Hartford Financial Management Inc. Reduces Stock Position in Sysco Corporation $SYY

Key Points

• Hartford Financial Management Inc. drastically reduced its stake in Sysco Corporation by 98.1%, leaving it with only 353 shares worth approximately $27,000.
• Several hedge funds increased their positions in Sysco, with Boston Partners expanding its holdings by 24.8%, now owning over 15 million shares valued at approximately $1.14 billion.
• Sysco recently declared a quarterly dividend of $0.54 per share, translating to an annualized dividend of $2.16 and a yield of 2.8%.

Hartford Financial Management Inc. reduced its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 98.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 353 shares of the company's stock after selling 18,214 shares during the quarter. Hartford Financial Management Inc.'s holdings in Sysco were worth $27,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SYY. Invesco Ltd. raised its holdings in Sysco by 1.0% in the first quarter. Invesco Ltd. now owns 17,070,502 shares of the company's stock valued at $1,280,970,000 after acquiring an additional 162,961 shares in the last quarter. 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 in the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of Sysco by 2.0% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 7,353,551 shares of the company's stock worth $551,810,000 after purchasing an additional 146,573 shares during the last quarter. Northern Trust Corp raised its stake in shares of Sysco by 2.6% in the 1st quarter. Northern Trust Corp now owns 5,828,930 shares of the company's stock valued at $437,403,000 after purchasing an additional 145,477 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Sysco by 8.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,087,250 shares of the company's stock worth $381,747,000 after purchasing an additional 391,614 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.

Insider Activity

In other Sysco news, EVP Ronald L. Phillips sold 7,351 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was 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 owned 41,837 shares in the company, valued at approximately $3,388,797. The trade was a 14.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 14,732 shares of company stock worth $1,193,245 in the last three months. Insiders own 0.56% of the company's stock.

Sysco Price Performance

Shares of NYSE SYY opened at $77.30 on Friday. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70. The firm has a market capitalization of $36.99 billion, a PE ratio of 20.72, a P/E/G ratio of 2.39 and a beta of 0.82. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $83.47. The business's fifty day moving average price is $80.53 and its two-hundred day moving average price is $76.84.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.39 by $0.09. The business had revenue of $21.14 billion during 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 company's quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.39 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, research analysts expect that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 24th. Stockholders of record on Friday, October 3rd were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, October 3rd. Sysco's payout ratio is 57.91%.

Analysts Set New Price Targets

Several brokerages recently weighed in on SYY. Bank of America boosted their price objective on Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a report on Friday, July 18th. Guggenheim lifted their target price on Sysco from $87.00 to $89.00 and gave the stock a "buy" rating in a research report on Monday, October 6th. UBS Group set a $90.00 price target on Sysco in a research report on Wednesday, July 30th. Weiss Ratings raised shares of Sysco from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday. Finally, Sanford C. Bernstein initiated coverage on shares of Sysco in a report on Wednesday. They set a "market perform" rating and a $83.00 target price on the stock. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $87.00.

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.

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