Voya Investment Management LLC Sells 175,832 Shares of Sysco Corporation $SYY

Key Points

• Voya Investment Management LLC reduced its stake in Sysco Corporation by 39.9%, selling 175,832 shares during the first quarter, leaving it with 264,996 shares valued at approximately $19.89 million.
• Sysco recently announced a quarterly dividend of $0.54 per share, resulting in an annualized yield of 2.7%, with shareholders of record on October 3rd eligible for payment.
• Analysts have mixed opinions on Sysco's stock, with price targets ranging from $72.00 to $90.00, and a consensus rating of "Moderate Buy" with an average target price of $85.69.

Voya Investment Management LLC decreased its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 39.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 264,996 shares of the company's stock after selling 175,832 shares during the quarter. Voya Investment Management LLC owned approximately 0.05% of Sysco worth $19,885,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. NorthCrest Asset Manangement LLC grew its holdings in shares of Sysco by 4.9% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 2,956 shares of the company's stock worth $226,000 after purchasing an additional 139 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Sysco by 48.4% during the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock worth $32,000 after buying an additional 140 shares during the period. Chicago Partners Investment Group LLC boosted its stake in shares of Sysco by 1.6% during the first quarter. Chicago Partners Investment Group LLC now owns 8,898 shares of the company's stock worth $627,000 after buying an additional 143 shares during the period. One Wealth Advisors LLC boosted its stake in shares of Sysco by 3.3% during the first quarter. One Wealth Advisors LLC now owns 4,698 shares of the company's stock worth $353,000 after buying an additional 151 shares during the period. Finally, Synovus Financial Corp boosted its stake in shares of Sysco by 4.5% during the first quarter. Synovus Financial Corp now owns 3,681 shares of the company's stock worth $276,000 after buying an additional 157 shares during the period. Hedge funds and other institutional investors own 83.41% of the company's stock.

Sysco Stock Up 0.6%

Sysco stock traded up $0.49 during midday trading on Friday, hitting $82.42. 7,527,001 shares of the stock were exchanged, compared to its average volume of 2,617,008. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $83.24. The firm has a market cap of $39.95 billion, a P/E ratio of 22.10, a P/E/G ratio of 2.54 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. The company has a 50 day moving average price of $80.19 and a two-hundred day moving average price of $75.58.

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

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, October 3rd. Sysco's dividend payout ratio is currently 57.91%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SYY. Wells Fargo & Company set a $88.00 target price on shares of Sysco and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Truist Financial increased their target price on shares of Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. UBS Group set a $90.00 target price on shares of Sysco in a report on Wednesday, July 30th. Wall Street Zen cut shares of Sysco from a "buy" rating to a "hold" rating in a research note on Saturday, September 13th. Finally, Barclays raised their price objective on shares of Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $85.69.

Insider Buying and Selling

In related news, EVP Ronald L. Phillips sold 961 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $81.00, for a total transaction of $77,841.00. Following the completion of the sale, the executive vice president directly owned 41,501 shares of the company's stock, valued at $3,361,581. This represents a 2.26% 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. Also, EVP Greg D. Bertrand sold 40,000 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The shares were 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 represents a 41.54% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,338 shares of company stock valued at $7,439,331. Company insiders own 0.54% of the company's stock.

Sysco Company Profile

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.