Sysco Corporation $SYY Holdings Trimmed by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings reduced its Sysco stake by 6.4% in the third quarter, selling 12,988 shares and retaining 190,956 shares valued at approximately $14.9 million. Institutional investors collectively own 83.41% of Sysco.
• Analysts maintain a generally favorable outlook, with a consensus rating of “Moderate Buy” and an average price target of $90.42. Recent earnings exceeded estimates, with quarterly revenue rising 4.7% year over year to $22.12 billion.
• Sysco declared a quarterly dividend of $0.55 per share, equivalent to $2.20 annually and a 2.7% yield. The stock opened at $82.00, compared with a 12-month range of $68.19 to $91.85.

Crossmark Global Holdings Inc. lessened its stake in Sysco Corporation (NYSE:SYY - Free Report) by 6.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 190,956 shares of the company's stock after selling 12,988 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Sysco were worth $14,887,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Sysco during the second quarter valued at approximately $3,596,356,000. Bank of America Corp DE acquired a new stake in shares of Sysco in the second quarter valued at approximately $482,589,000. Primecap Management Co. CA acquired a new stake in shares of Sysco in the second quarter valued at approximately $313,503,000. Bank of New York Mellon Corp bought a new position in Sysco in the 2nd quarter worth approximately $273,323,000. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of Sysco during the second quarter valued at $203,861,000. 83.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SYY. Morgan Stanley lifted their price target on shares of Sysco from $88.00 to $91.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 15th. Piper Sandler boosted their price target on shares of Sysco from $77.00 to $84.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. Citigroup increased their price objective on shares of Sysco from $82.00 to $86.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. Wall Street Zen raised shares of Sysco from a "hold" rating to a "buy" rating in a research note on Saturday, October 3rd. Finally, Weiss Ratings raised shares of Sysco from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 15th. Nine research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $90.42.

Sysco Trading Down 1.1%

NYSE SYY opened at $82.00 on Thursday. The stock has a 50-day simple moving average of $80.52 and a 200 day simple moving average of $79.18. The company has a market capitalization of $40.34 billion, a PE ratio of 22.41, a P/E/G ratio of 2.84 and a beta of 0.64. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85.

Sysco (NYSE:SYY - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. Sysco had a return on equity of 95.05% and a net margin of 2.08%. The firm had revenue of $22.12 billion for the quarter, compared to analyst estimates of $21.95 billion. During the same quarter in the prior year, the firm posted $1.48 earnings per share. The company's quarterly revenue was up 4.7% on a year-over-year basis. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. Research analysts forecast that Sysco Corporation will post 5.10 EPS for the current year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 2nd will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Friday, October 2nd. Sysco's dividend payout ratio (DPR) is currently 60.11%.

Insider Buying and Selling at Sysco

In related news, EVP Ronald Phillips sold 960 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $83.00, for a total value of $79,680.00. Following the sale, the executive vice president directly owned 49,852 shares in the company, valued at $4,137,716. This trade represents a 1.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 15,525 shares of company stock valued at $1,299,736. Company insiders own 0.55% of the company's stock.

Sysco Company Profile

Sysco Corporation is a global foodservice distribution company headquartered in Houston, Texas. It supplies food and related products to restaurants, healthcare and educational institutions, hotels, government facilities, and other foodservice operators.

The company distributes a broad range of products, including fresh and frozen foods, meat and seafood, produce, dairy products, canned and packaged goods, beverages, and specialty food items. Sysco also provides nonfood products such as kitchen and dining supplies, equipment, and cleaning products, along with services intended to help customers manage menus, procurement, and operations.

Founded in 1969, Sysco serves customers primarily across the United States and Canada, as well as in parts of Europe and other international markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.