Earnest Partners LLC Lowers Holdings in Sysco Corporation $SYY

Key Points

• Earnest Partners LLC decreased its holdings in Sysco Corporation by 2.4%, owning approximately 912,493 shares valued at $68.47 million following the sale of 22,872 shares.
• Sysco's latest quarterly earnings results showed $1.48 EPS, surpassing analysts' expectations and reflecting a 2.8% increase in revenue year-over-year to $21.14 billion.
• The company announced a quarterly dividend of $0.54 per share, set to be paid on October 24th, with an annualized yield of 2.7%.

Earnest Partners LLC trimmed its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 912,493 shares of the company's stock after selling 22,872 shares during the period. Earnest Partners LLC owned approximately 0.19% of Sysco worth $68,473,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Rialto Wealth Management LLC boosted its stake in Sysco by 188.7% during the 1st 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. Parvin Asset Management LLC purchased a new stake in Sysco during the 4th quarter valued at $29,000. Golden State Wealth Management LLC boosted its stake in Sysco by 48.4% during the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after purchasing an additional 140 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new stake in Sysco during the 1st quarter valued at $33,000. Finally, Capital A Wealth Management LLC purchased a new stake in Sysco during the 4th quarter valued at $34,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Price Performance

Shares of Sysco stock opened at $80.28 on Thursday. The stock's fifty day moving average is $78.46 and its 200 day moving average is $74.56. Sysco Corporation has a one year low of $67.12 and a one year high of $82.64. 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 stock has a market cap of $38.92 billion, a P/E ratio of 21.52, a P/E/G ratio of 2.47 and a beta of 0.83.

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

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.54 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 2.7%. Sysco's dividend payout ratio (DPR) is presently 57.91%.

Analyst Ratings Changes

Several analysts have commented on the company. JPMorgan Chase & Co. increased their target price on Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, May 20th. Morgan Stanley raised their price target on Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Truist Financial raised their price target on Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. BMO Capital Markets dropped their price target on Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Finally, Citigroup started coverage on Sysco in a research note on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 price target on the stock. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $85.69.

Insider Activity at Sysco

In related news, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the transaction, the executive vice president owned 56,304 shares in the company, valued at approximately $4,504,320. The trade was a 41.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ronald L. Phillips sold 37,606 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the completion of the transaction, the executive vice president directly owned 30,235 shares of the company's stock, valued at $2,449,035. This represents a 55.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 84,026 shares of company stock worth $6,766,059 in the last ninety days. Insiders own 0.54% of the company's stock.

About Sysco

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.

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