Ethic Inc. Has $8.58 Million Stock Holdings in Sysco Corporation $SYY

Key Points

• Ethic Inc. reduced its holdings in Sysco Corporation by 4.7%, now owning 114,335 shares valued at approximately $8.58 million.
• Institutional investors currently hold 83.41% of Sysco's stock, indicating significant market interest and investment in the company.
• Sysco has declared a quarterly dividend of $0.54 per share, reflecting a 2.7% yield on an annualized basis, with the payment scheduled for October 24th.

Ethic Inc. lessened its position in Sysco Corporation (NYSE:SYY - Free Report) by 4.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 114,335 shares of the company's stock after selling 5,696 shares during the period. Ethic Inc.'s holdings in Sysco were worth $8,576,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in SYY. Boston Partners grew its holdings in Sysco by 24.8% during the 1st quarter. Boston Partners now owns 15,199,828 shares of the company's stock worth $1,139,798,000 after acquiring an additional 3,015,714 shares during the last quarter. Nuveen LLC acquired a new position in shares of Sysco during the first quarter worth approximately $85,341,000. Amundi grew its stake in shares of Sysco by 36.5% during the first quarter. Amundi now owns 3,725,508 shares of the company's stock valued at $280,941,000 after purchasing an additional 995,498 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of Sysco by 1,940.1% in the first quarter. Mackenzie Financial Corp now owns 1,016,660 shares of the company's stock valued at $76,290,000 after purchasing an additional 966,826 shares in the last quarter. Finally, Burgundy Asset Management Ltd. raised its position in Sysco by 38.8% in the 1st quarter. Burgundy Asset Management Ltd. now owns 2,015,994 shares of the company's stock worth $151,280,000 after purchasing an additional 563,921 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SYY shares. Sanford C. Bernstein started coverage on shares of Sysco in a research report on Wednesday. They issued a "market perform" rating and a $83.00 price objective for the company. Guggenheim boosted their price objective on shares of Sysco from $87.00 to $89.00 and gave the stock a "buy" rating in a research report on Monday, October 6th. Citigroup upped their target price on shares of Sysco from $84.00 to $86.00 and gave the company a "neutral" rating in a research report on Wednesday, October 15th. Weiss Ratings downgraded shares of Sysco from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, October 8th. Finally, Truist Financial upped their target price on shares of Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Nine equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $87.00.

Insider Buying and Selling at Sysco

In other news, EVP Ronald L. Phillips sold 7,351 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $81.00, for a total transaction of $595,431.00. Following the completion of the transaction, the executive vice president directly owned 41,837 shares of the company's stock, valued at $3,388,797. This trade represents a 14.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 14,732 shares of company stock worth $1,193,245. 0.56% of the stock is owned by company insiders.

Sysco Price Performance

NYSE SYY opened at $78.55 on Thursday. The business has a 50 day simple moving average of $80.63 and a 200 day simple moving average of $76.65. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $83.47. 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 $37.59 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 2.44 and a beta of 0.82.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.09. The company had revenue of $21.14 billion during the quarter, compared to analysts' expectations 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 period last year, the business earned $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

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

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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