Sysco Corporation $SYY Stock Sold by Investment House LLC

Key Points

• Investment House LLC cut its Sysco stake by 48.4% in the third quarter, selling 17,460 shares and retaining 18,645 shares valued at approximately $1.45 million. Institutional investors collectively own 83.41% of Sysco.
• Sysco reported quarterly EPS of $1.53, exceeding estimates by $0.02, while revenue rose 4.7% year over year to $22.12 billion. Shares opened at $83.88, up 2.2%.
• Sysco declared a quarterly dividend of $0.55 per share, equivalent to $2.20 annually and a 2.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $90.42.

Investment House LLC reduced its stake in Sysco Corporation (NYSE:SYY - Free Report) by 48.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,645 shares of the company's stock after selling 17,460 shares during the period. Investment House LLC's holdings in Sysco were worth $1,454,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Parkside Financial Bank & Trust lifted its holdings in shares of Sysco by 7.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,241 shares of the company's stock worth $187,000 after purchasing an additional 147 shares during the last quarter. Plimoth Trust Co. LLC boosted its position in Sysco by 4.2% during the 1st quarter. Plimoth Trust Co. LLC now owns 3,744 shares of the company's stock valued at $267,000 after purchasing an additional 150 shares during the period. Pinnacle Associates Ltd. increased its position in Sysco by 2.1% in the third quarter. Pinnacle Associates Ltd. now owns 7,399 shares of the company's stock worth $577,000 after buying an additional 150 shares during the period. Sunbelt Securities Inc. increased its position in Sysco by 87.6% in the first quarter. Sunbelt Securities Inc. now owns 364 shares of the company's stock worth $26,000 after buying an additional 170 shares during the period. Finally, Cornerstone Wealth Group LLC increased its position in Sysco by 5.5% in the first quarter. Cornerstone Wealth Group LLC now owns 3,341 shares of the company's stock worth $250,000 after buying an additional 173 shares during the period. 83.41% of the stock is owned by institutional investors.

Sysco Stock Up 2.2%

Shares of Sysco stock opened at $83.88 on Friday. The business's fifty day moving average price is $80.53 and its two-hundred day moving average price is $79.27. The company has a debt-to-equity ratio of 4.62, a current ratio of 1.28 and a quick ratio of 0.77. The company has a market capitalization of $41.26 billion, a P/E ratio of 22.92, a PEG ratio of 2.81 and a beta of 0.64. Sysco Corporation has a 1-year low of $68.19 and a 1-year high of $91.85.

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

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 2nd will be issued a $0.55 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.20 annualized dividend and a yield of 2.6%. Sysco's dividend payout ratio is presently 60.11%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SYY shares. Melius Research downgraded shares of Sysco from a "hold" rating to a "sell" rating in a report on Tuesday, July 7th. Morgan Stanley increased their price objective on shares of Sysco from $88.00 to $91.00 and gave the stock an "equal weight" rating in a report on Thursday, October 15th. Weiss Ratings upgraded shares of Sysco from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 15th. Citigroup lifted their price objective on shares of Sysco from $82.00 to $86.00 and gave the company a "neutral" rating in a research report on Wednesday, August 5th. Finally, Wall Street Zen raised shares of Sysco from a "hold" rating to a "buy" rating in a research note on Saturday, October 3rd. Nine research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Sysco currently has an average rating of "Moderate Buy" and a consensus target price of $90.42.

Insider Transactions at Sysco

In related news, EVP Ronald Phillips sold 7,350 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $83.61, for a total value of $614,533.50. Following the completion of the transaction, the executive vice president owned 38,650 shares in the company, valued at $3,231,526.50. This represents a 15.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 three months, insiders have sold 15,525 shares of company stock valued at $1,299,736. Corporate 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.

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