Sysco Corporation $SYY Shares Sold by DoubleLine ETF Adviser LP

Key Points

• DoubleLine ETF Adviser LP reduced its shares in Sysco Corporation by 19.4%, bringing its total holdings to 22,484 shares valued at approximately $1.69 million after selling 5,410 shares.
• Sysco recently announced a quarterly dividend of $0.54 per share, representing an annualized dividend yield of 2.7%, with the ex-dividend date set for October 3rd.
• Analysts have a consensus rating of "Moderate Buy" for Sysco, with a target price of $85.69, following recent price upgrades from various research firms.

DoubleLine ETF Adviser LP lowered its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 19.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,484 shares of the company's stock after selling 5,410 shares during the quarter. DoubleLine ETF Adviser LP's holdings in Sysco were worth $1,687,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NorthCrest Asset Manangement LLC raised its holdings in shares of Sysco by 4.9% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 2,956 shares of the company's stock valued at $226,000 after buying an additional 139 shares during the period. Golden State Wealth Management LLC boosted its position in shares of Sysco by 48.4% during the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock worth $32,000 after acquiring an additional 140 shares in the last quarter. Chicago Partners Investment Group LLC boosted its position 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 in the last quarter. One Wealth Advisors LLC boosted its position in shares of Sysco by 3.3% during the 1st quarter. One Wealth Advisors LLC now owns 4,698 shares of the company's stock worth $353,000 after acquiring an additional 151 shares in the last quarter. Finally, Synovus Financial Corp boosted its position in shares of Sysco by 4.5% during the 1st quarter. Synovus Financial Corp now owns 3,681 shares of the company's stock worth $276,000 after acquiring an additional 157 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company's stock.

Insider Buying and Selling at Sysco

In other news, EVP Greg D. Bertrand sold 40,000 shares of the firm's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the sale, the executive vice president owned 56,304 shares in the company, valued at $4,504,320. This trade represents a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ronald L. Phillips sold 7,351 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $81.00, for a total value of $595,431.00. Following the sale, the executive vice president owned 41,837 shares in the company, valued at $3,388,797. This trade represents a 14.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 91,377 shares of company stock worth $7,361,490 in the last 90 days. Insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

SYY has been the subject of several analyst reports. Barclays upped their price objective on Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Wells Fargo & Company set a $88.00 price objective on Sysco and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Truist Financial upped their price objective on Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Citigroup initiated coverage on Sysco in a research report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Sysco currently has an average rating of "Moderate Buy" and an average target price of $85.69.

Sysco Price Performance

NYSE:SYY traded down $0.06 during trading hours on Friday, reaching $82.45. 2,675,007 shares of the company traded hands, compared to its average volume of 2,683,667. The firm's 50-day moving average is $79.29 and its 200-day moving average is $75.09. The stock has a market cap of $39.97 billion, a P/E ratio of 22.11, a P/E/G ratio of 2.55 and a beta of 0.80. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $83.17.

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

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.54 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.16 annualized dividend and a dividend yield of 2.6%. Sysco's dividend payout ratio (DPR) is 57.91%.

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.