Legal & General Group Plc Trims Position in Sysco Corporation $SYY

Key Points

• Legal & General Group Plc trimmed its stake in Sysco by 2.3% in the third quarter, selling 60,903 shares and now owning 2,583,174 shares (0.54% of the company) valued at about $212.7 million.
• Insiders reduced holdings as well: Director Sheila Talton sold 2,801 shares at $82.99 (a 17.9% decrease) and EVP Ronald L. Phillips sold 5,601 shares at $81.00 (a 13.5% decrease); insiders now own 0.56% of Sysco.
• Several analysts raised price targets leaving a MarketBeat consensus rating of Moderate Buy with a consensus price target of $90.31, after Sysco slightly beat quarterly EPS ($0.99 vs. $0.98), set FY2026 guidance of 4.60 EPS, and announced a $0.54 quarterly dividend (2.5% yield).

Legal & General Group Plc cut its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,583,174 shares of the company's stock after selling 60,903 shares during the period. Legal & General Group Plc owned 0.54% of Sysco worth $212,699,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Jackson Grant Investment Advisers Inc. bought a new position in shares of Sysco in the third quarter valued at approximately $25,000. Harbor Capital Advisors Inc. increased its holdings in Sysco by 75.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 315 shares of the company's stock worth $26,000 after acquiring an additional 135 shares during the period. Peterson Wealth Services lifted its stake in Sysco by 875.7% in the 3rd quarter. Peterson Wealth Services now owns 361 shares of the company's stock worth $30,000 after purchasing an additional 324 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in Sysco in the 2nd quarter worth approximately $31,000. Finally, Vermillion & White Wealth Management Group LLC boosted its holdings in Sysco by 94.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 419 shares of the company's stock valued at $32,000 after purchasing an additional 204 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Sheila Talton sold 2,801 shares of the firm's stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $82.99, for a total value of $232,454.99. Following the completion of the sale, the director owned 12,868 shares of the company's stock, valued at $1,067,915.32. This trade represents a 17.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ronald L. Phillips sold 5,601 shares of the business's stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $81.00, for a total transaction of $453,681.00. Following the transaction, the executive vice president directly owned 35,965 shares in the company, valued at approximately $2,913,165. The trade was a 13.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.56% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SYY. Citigroup upped their price target on shares of Sysco from $81.00 to $88.00 and gave the stock a "neutral" rating in a report on Wednesday, January 28th. JPMorgan Chase & Co. boosted their target price on Sysco from $85.00 to $87.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 28th. Jefferies Financial Group upped their target price on Sysco from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, January 28th. Guggenheim reaffirmed a "buy" rating on shares of Sysco in a report on Thursday, March 5th. Finally, Wall Street Zen downgraded Sysco from a "buy" rating to a "hold" rating in a research report on Sunday, March 8th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Sysco has a consensus rating of "Moderate Buy" and a consensus price target of $90.31.

Sysco Stock Up 0.3%

NYSE SYY opened at $84.85 on Friday. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.30 and a quick ratio of 0.75. The stock has a market capitalization of $40.64 billion, a PE ratio of 22.81, a PEG ratio of 2.63 and a beta of 0.58. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $91.85. The business's 50-day moving average is $83.19 and its 200 day moving average is $79.48.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings results on Tuesday, January 27th. The company reported $0.99 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.01. Sysco had a return on equity of 109.21% and a net margin of 2.17%.The business had revenue of $20.76 billion during the quarter, compared to analyst estimates of $20.80 billion. During the same quarter in the prior year, the company posted $0.93 EPS. Sysco's quarterly revenue was up 3.0% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. Sell-side analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Investors of record on Thursday, April 2nd will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Thursday, April 2nd. Sysco's dividend payout ratio is currently 58.06%.

About Sysco

Sysco Corporation NYSE: SYY is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.

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