Sysco Corporation $SYY Shares Sold by Coho Partners Ltd.

Key Points

• Coho Partners Ltd. reduced its stake in Sysco Corporation by 15.4% in the second quarter, owning 763,876 shares after selling 138,954 shares.
• Sysco reported a $1.48 EPS for the last quarter, exceeding estimates and showing a 2.8% increase in revenue compared to the previous year.
• The company plans to pay a quarterly dividend of $0.54 per share on October 24th, representing an annual yield of 2.7%.

Coho Partners Ltd. lowered its position in Sysco Corporation (NYSE:SYY - Free Report) by 15.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 763,876 shares of the company's stock after selling 138,954 shares during the period. Sysco comprises approximately 4.3% of Coho Partners Ltd.'s holdings, making the stock its 5th largest position. Coho Partners Ltd. owned about 0.16% of Sysco worth $57,856,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Mattson Financial Services LLC lifted its holdings in shares of Sysco by 21.0% in the 2nd quarter. Mattson Financial Services LLC now owns 15,747 shares of the company's stock valued at $1,193,000 after buying an additional 2,731 shares during the period. First National Bank of Mount Dora Trust Investment Services lifted its holdings in shares of Sysco by 3.0% in the 2nd quarter. First National Bank of Mount Dora Trust Investment Services now owns 5,077 shares of the company's stock valued at $385,000 after buying an additional 150 shares during the period. Latitude Advisors LLC lifted its holdings in Sysco by 12.8% in the second quarter. Latitude Advisors LLC now owns 3,447 shares of the company's stock valued at $261,000 after acquiring an additional 392 shares during the period. WealthPlan Investment Management LLC lifted its holdings in Sysco by 15.0% in the second quarter. WealthPlan Investment Management LLC now owns 3,163 shares of the company's stock valued at $240,000 after acquiring an additional 412 shares during the period. Finally, Bridges Investment Management Inc. lifted its holdings in Sysco by 14.5% in the second quarter. Bridges Investment Management Inc. now owns 26,852 shares of the company's stock valued at $2,034,000 after acquiring an additional 3,404 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Performance

Sysco stock opened at $78.78 on Friday. The firm has a market capitalization of $37.70 billion, a P/E ratio of 21.12, a PEG ratio of 2.47 and a beta of 0.82. The stock has a fifty day moving average price of $80.75 and a 200 day moving average price of $76.51. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $83.47. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75.

Sysco (NYSE:SYY - Get Free Report) last issued 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 firm 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%. Sysco's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.39 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Equities research analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently announced 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 of this dividend is Friday, October 3rd. Sysco's dividend payout ratio is 57.91%.

Insider Buying and Selling

In other news, EVP Greg D. Bertrand sold 40,000 shares of the stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total value 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ronald L. Phillips sold 961 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $81.00, for a total value of $77,841.00. Following the completion of the sale, the executive vice president owned 41,501 shares of the company's stock, valued at approximately $3,361,581. This represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,338 shares of company stock valued at $7,439,331. Corporate insiders own 0.56% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on SYY. Weiss Ratings cut shares of Sysco from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Sysco from a "hold" rating to a "buy" rating in a research report on Saturday, October 11th. Truist Financial lifted their price target on shares of Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Bank of America lifted their price objective on Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Barclays lifted their price objective on Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $86.46.

About Sysco

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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