Sysco Corporation $SYY Stock Holdings Decreased by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC decreased its position in Sysco Corporation by 81.8% during the first quarter, selling over 112,800 shares, and now holds 25,119 shares valued at approximately $1.88 million.
• Insider sales have been significant, with EVP Ronald L. Phillips selling 37,606 shares and EVP Greg D. Bertrand selling 40,000 shares, indicating a 55.43% and 41.54% decrease in their respective holdings.
• Sysco has declared a quarterly dividend of $0.54 per share, with an annualized yield of 2.6%, payable on October 24th, indicating ongoing shareholder returns.

Acadian Asset Management LLC cut its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 81.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,119 shares of the company's stock after selling 112,800 shares during the quarter. Acadian Asset Management LLC's holdings in Sysco were worth $1,884,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Rialto Wealth Management LLC grew its position in shares of Sysco by 188.7% in the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock valued at $25,000 after purchasing an additional 217 shares during the last quarter. Golden State Wealth Management LLC grew its stake in Sysco by 48.4% in the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock worth $32,000 after acquiring an additional 140 shares during the period. N.E.W. Advisory Services LLC purchased a new stake in Sysco in the 1st quarter worth approximately $33,000. Capital A Wealth Management LLC purchased a new stake in Sysco in the 4th quarter worth approximately $34,000. Finally, Cheviot Value Management LLC purchased a new stake in Sysco in the 1st quarter worth approximately $34,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on SYY. Wall Street Zen cut shares of Sysco from a "buy" rating to a "hold" rating in a research note on Saturday. Truist Financial lifted their target price on shares of Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Citigroup began coverage on shares of Sysco in a research note on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 target price for the company. UBS Group set a $90.00 target price on shares of Sysco in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $85.69.

Insider Buying and Selling at Sysco

In related news, EVP Ronald L. Phillips sold 961 shares of Sysco stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $81.00, for a total transaction of $77,841.00. Following the sale, the executive vice president owned 41,501 shares of the company's stock, valued at $3,361,581. The trade was a 2.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the sale, the executive vice president directly owned 56,304 shares in the company, valued at $4,504,320. This trade represents a 41.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,338 shares of company stock worth $7,439,331 in the last ninety days. 0.54% of the stock is currently owned by insiders.

Sysco Stock Up 1.0%

Shares of NYSE:SYY traded up $0.84 during midday trading on Wednesday, hitting $82.37. 3,524,739 shares of the company's stock traded hands, compared to its average volume of 2,499,420. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. The company has a market cap of $39.93 billion, a PE ratio of 22.08, a P/E/G ratio of 2.53 and a beta of 0.80. The firm's fifty day moving average price is $79.98 and its two-hundred day moving average price is $75.48. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $83.17.

Sysco (NYSE:SYY - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.09. The business had revenue of $21.14 billion for the quarter, compared to analyst estimates of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The business's quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, equities research analysts anticipate that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.16 annualized dividend and a yield of 2.6%. Sysco's payout ratio is 57.91%.

Sysco Company Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.