Professional Advisory Services Inc. Reduces Stake in Sysco Corporation $SYY

Key Points

• Professional Advisory Services Inc. has reduced its position in Sysco Corporation by 2.3%, owning 279,820 shares, which represent about 2.9% of its portfolio and are valued at approximately $21.2 million.
• In its latest earnings report, Sysco Corporation beat analyst expectations with $1.48 EPS on revenue of $21.14 billion, showing a 2.8% increase compared to the previous year.
• The company declared a quarterly dividend of $0.54, expected to be paid on October 24, representing an annual yield of 2.6% and a payout ratio of 57.91%.

Professional Advisory Services Inc. lowered its stake in Sysco Corporation (NYSE:SYY - Free Report) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 279,820 shares of the company's stock after selling 6,454 shares during the quarter. Sysco comprises approximately 2.9% of Professional Advisory Services Inc.'s holdings, making the stock its 15th largest holding. Professional Advisory Services Inc. owned 0.06% of Sysco worth $21,194,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. NorthCrest Asset Manangement LLC increased its stake in Sysco by 4.9% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 2,956 shares of the company's stock valued at $226,000 after purchasing an additional 139 shares in the last quarter. Golden State Wealth Management LLC raised its position in Sysco by 48.4% in 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. Trust Co of the South grew its stake in shares of Sysco by 3.0% during the 2nd quarter. Trust Co of the South now owns 4,849 shares of the company's stock worth $367,000 after purchasing an additional 142 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in shares of Sysco by 1.6% during the 1st quarter. Chicago Partners Investment Group LLC now owns 8,898 shares of the company's stock worth $627,000 after acquiring an additional 143 shares during the period. Finally, One Wealth Advisors LLC grew its position in Sysco by 3.3% in the first quarter. One Wealth Advisors LLC now owns 4,698 shares of the company's stock valued at $353,000 after acquiring an additional 151 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Sysco Stock Performance

NYSE SYY traded up $0.49 on Friday, hitting $82.42. 7,527,001 shares of the company's stock were exchanged, compared to its average volume of 2,871,928. 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's 50-day moving average price is $80.19 and its two-hundred day moving average price is $75.59. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $83.24. The firm has a market cap of $39.95 billion, a price-to-earnings ratio of 22.10, a P/E/G ratio of 2.55 and a beta of 0.80.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.09. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The company had revenue of $21.14 billion during the quarter, compared to analysts' expectations of $21.01 billion. During the same period in the prior year, the company posted $1.39 EPS. The firm's revenue for the quarter was up 2.8% on a year-over-year basis. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 3rd will be paid a $0.54 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 2.6%. Sysco's payout ratio is presently 57.91%.

Analyst Upgrades and Downgrades

SYY has been the subject of a number of analyst reports. UBS Group set a $90.00 target price on shares of Sysco in a research note on Wednesday, July 30th. Wells Fargo & Company set a $88.00 price target on Sysco and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Barclays boosted their price target on Sysco from $77.00 to $82.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Truist Financial increased 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. Finally, Wall Street Zen lowered Sysco from a "buy" rating to a "hold" rating in a research report on Saturday, September 13th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, Sysco presently has a consensus rating of "Moderate Buy" and an average price target of $85.69.

Insider Buying and Selling at Sysco

In related news, EVP Greg D. Bertrand sold 40,000 shares of the company's stock in a transaction dated 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 completion of the sale, the executive vice president owned 56,304 shares of the company's stock, valued at $4,504,320. This represents a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Ronald L. Phillips sold 961 shares of Sysco stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $81.00, for a total transaction of $77,841.00. Following the completion of the sale, the executive vice president directly owned 41,501 shares of the company's stock, valued at approximately $3,361,581. The trade was a 2.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,338 shares of company stock worth $7,439,331 over the last ninety days. Insiders own 0.54% of the company's stock.

Sysco 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.