Sysco Corporation $SYY Shares Sold by Gateway Investment Advisers LLC

Key Points

• Gateway Investment Advisers LLC has reduced its stake in Sysco Corporation by 40.7%, selling 8,441 shares and now holding 12,324 shares worth approximately $933,000.
• Sysco reported $1.48 earnings per share for the last quarter, surpassing estimates, and has set its FY 2026 guidance at 4.500-4.600 EPS.
• The company will pay a quarterly dividend of $0.54 on October 24th, reflecting a 2.6% yield and a payout ratio of 57.91%.

Gateway Investment Advisers LLC decreased its position in Sysco Corporation (NYSE:SYY - Free Report) by 40.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,324 shares of the company's stock after selling 8,441 shares during the period. Gateway Investment Advisers LLC's holdings in Sysco were worth $933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SYY. Rialto Wealth Management LLC boosted its position in 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 buying an additional 217 shares during the last quarter. Golden State Wealth Management LLC raised its position in Sysco by 48.4% during the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock worth $32,000 after buying an additional 140 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in Sysco during the 1st quarter valued at approximately $33,000. Capital A Wealth Management LLC purchased a new stake in shares of Sysco in the 4th quarter valued at $34,000. Finally, Cheviot Value Management LLC acquired a new stake in shares of Sysco in the first quarter worth $34,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Wall Street Analyst Weigh In

SYY has been the subject of a number of research reports. Bank of America boosted their target price on shares of Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a research report on Friday, July 18th. UBS Group set a $90.00 price objective on Sysco in a research note on Wednesday, July 30th. Morgan Stanley boosted their price objective on Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Wall Street Zen lowered Sysco from a "buy" rating to a "hold" rating in a report on Saturday, September 13th. Finally, Guggenheim lifted their price target on Sysco from $85.00 to $87.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $85.69.

Insiders Place Their Bets

In other Sysco news, EVP Ronald L. Phillips sold 37,606 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the transaction, the executive vice president directly owned 30,235 shares of the company's stock, valued at $2,449,035. This trade represents a 55.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $4,504,320. This represents a 41.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,338 shares of company stock valued at $7,439,331 over the last 90 days. 0.54% of the stock is currently owned by company insiders.

Sysco Price Performance

Shares of Sysco stock traded down $0.94 on Monday, hitting $81.45. The company's stock had a trading volume of 2,391,772 shares, compared to its average volume of 2,871,928. The company has a market capitalization of $39.48 billion, a price-to-earnings ratio of 21.84, a price-to-earnings-growth ratio of 2.55 and a beta of 0.80. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $83.24. 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 firm has a fifty day moving average price of $80.26 and a 200-day moving average price of $75.62.

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

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 3rd. Sysco's payout ratio is presently 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.