Integrated Wealth Concepts LLC Trims Stake in Sysco Corporation $SYY

Key Points

• Integrated Wealth Concepts LLC has reduced its stake in Sysco Corporation by 22.0%, now holding 16,741 shares valued at approximately $1.26 million.
• Several institutional investors have made significant adjustments to their Sysco positions, including Rialto Wealth Management, which increased its stake by 188.7%.
• Sysco recently announced a quarterly dividend of $0.54 per share, reflecting an annual yield of 2.7%, with payment scheduled for October 24th.

Integrated Wealth Concepts LLC lessened its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 22.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,741 shares of the company's stock after selling 4,716 shares during the period. Integrated Wealth Concepts LLC's holdings in Sysco were worth $1,256,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of SYY. Boston Partners boosted its holdings in shares of Sysco by 24.8% during the 1st quarter. Boston Partners now owns 15,199,828 shares of the company's stock valued at $1,139,798,000 after buying an additional 3,015,714 shares in the last quarter. Canoe Financial LP boosted its holdings in shares of Sysco by 29,610.4% during the 1st quarter. Canoe Financial LP now owns 1,431,149 shares of the company's stock valued at $107,393,000 after buying an additional 1,426,332 shares in the last quarter. Nuveen LLC bought a new stake in shares of Sysco during the 1st quarter valued at $85,341,000. Burgundy Asset Management Ltd. boosted its holdings in shares of Sysco by 251.6% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,452,073 shares of the company's stock valued at $111,026,000 after buying an additional 1,039,088 shares in the last quarter. Finally, Amundi boosted its holdings in shares of Sysco by 36.5% during the 1st quarter. Amundi now owns 3,725,508 shares of the company's stock valued at $280,941,000 after buying an additional 995,498 shares in the last quarter. Institutional investors own 83.41% of the company's stock.

Insider Transactions at Sysco

In related news, EVP Ronald L. Phillips sold 37,606 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total value of $3,046,086.00. Following the transaction, the executive vice president owned 30,235 shares of the company's stock, valued at approximately $2,449,035. This trade represents a 55.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Greg D. Bertrand sold 40,000 shares of the company's stock in a transaction that occurred on 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 sale, the executive vice president directly owned 56,304 shares of the company's stock, valued at approximately $4,504,320. This represents a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 92,338 shares of company stock worth $7,439,331. 0.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Citigroup assumed coverage on shares of Sysco in a report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 target price on the stock. Truist Financial upped their price target on shares of Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Morgan Stanley upped their price target on shares of Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Barclays upped their price target on shares of Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Finally, Wall Street Zen cut shares of Sysco from a "buy" rating to a "hold" rating in a research note on Saturday. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $85.69.

Sysco Stock Performance

Shares of SYY traded up $0.33 during mid-day trading on Friday, hitting $81.37. 2,415,722 shares of the company traded hands, compared to its average volume of 2,483,940. The stock has a market cap of $39.44 billion, a price-to-earnings ratio of 21.81, a P/E/G ratio of 2.51 and a beta of 0.80. The stock has a 50-day moving average price of $79.70 and a two-hundred day moving average price of $75.35. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $83.17. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21.

Sysco (NYSE:SYY - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.09. The business had revenue of $21.14 billion during the quarter, compared to the consensus estimate of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The firm's revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Equities analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, October 3rd. Sysco's dividend payout ratio is 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.