Sysco Corporation $SYY Stock: Curated Wealth Partners LLC Decreases Stake

Key Points

• Curated Wealth Partners cut its Sysco stake by 79.8% in the third quarter, selling 24,250 shares and retaining 6,151 shares valued at approximately $480,000. Institutional investors collectively own 83.41% of the company.
• Analyst sentiment remains broadly positive, with nine Buy, six Hold, and one Sell rating; Sysco has a consensus rating of “Moderate Buy” and an average price target of $90.42.
• Sysco reported quarterly EPS of $1.53 and revenue of $22.12 billion, both ahead of estimates, while maintaining a quarterly dividend of $0.55 per share, equivalent to a 2.7% yield.

Curated Wealth Partners LLC cut its position in Sysco Corporation (NYSE:SYY - Free Report) by 79.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,151 shares of the company's stock after selling 24,250 shares during the period. Curated Wealth Partners LLC's holdings in Sysco were worth $480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC bought a new stake in Sysco in the second quarter worth about $29,000. Sunbelt Securities Inc. grew its holdings in Sysco by 87.6% in the first quarter. Sunbelt Securities Inc. now owns 364 shares of the company's stock valued at $26,000 after purchasing an additional 170 shares during the period. Markowski Investments purchased a new stake in shares of Sysco during the second quarter worth approximately $31,000. Parvin Asset Management LLC acquired a new position in Sysco during the second quarter worth $32,000. Finally, Tacita Capital Inc acquired a new stake in Sysco during the second quarter worth about $35,000. 83.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SYY. UBS Group lifted their price objective on Sysco from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Weiss Ratings raised Sysco from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday. JPMorgan Chase & Co. cut their price target on Sysco from $100.00 to $95.00 and set an "overweight" rating for the company in a research note on Tuesday, September 29th. Piper Sandler upped their price target on Sysco from $77.00 to $84.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen raised Sysco from a "hold" rating to a "buy" rating in a report on Saturday, October 3rd. Nine analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $90.42.

Insider Buying and Selling

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 transaction of $79,680.00. Following the completion of the sale, the executive vice president directly owned 49,852 shares of the company's stock, valued at $4,137,716. This represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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. Insiders have sold 15,525 shares of company stock valued at $1,299,736 in the last quarter. 0.55% of the stock is currently owned by insiders.

Sysco Price Performance

SYY opened at $82.23 on Friday. Sysco Corporation has a 1-year low of $68.19 and a 1-year high of $91.85. The company has a debt-to-equity ratio of 4.62, a quick ratio of 0.77 and a current ratio of 1.28. The company has a market capitalization of $40.45 billion, a P/E ratio of 22.47, a PEG ratio of 2.87 and a beta of 0.64. The company has a 50-day moving average of $80.64 and a 200-day moving average of $78.89.

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

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 2nd will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.20 annualized dividend and a yield of 2.7%. Sysco's payout ratio is presently 60.11%.

Sysco Company Profile

Sysco Corporation is a global foodservice distributor headquartered in Houston, Texas. The company supplies restaurants, hotels, healthcare facilities, educational institutions, government organizations and other foodservice customers with a broad range of products and related services.

Sysco's offerings include fresh and frozen foods, meat and seafood, dairy products, produce, canned and dry goods, beverages, specialty and international foods, and prepared and ready-to-use items. The company also distributes nonfood products such as kitchen equipment, tableware, cleaning supplies and other operating supplies.

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