Sysco Corporation $SYY Shares Sold by MV Capital Management Inc.

MV Capital Management Inc. lessened its stake in shares of Sysco Corporation (NYSE:SYY) by 2.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,913 shares of the company’s stock after selling 873 shares during the quarter. MV Capital Management Inc.’s holdings in Sysco were worth $2,796,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SYY. New York State Common Retirement Fund increased its holdings in shares of Sysco by 7.1% in the 1st quarter. New York State Common Retirement Fund now owns 323,691 shares of the company’s stock valued at $24,290,000 after purchasing an additional 21,500 shares in the last quarter. CWM LLC increased its holdings in Sysco by 5.5% in the first quarter. CWM LLC now owns 48,588 shares of the company’s stock valued at $3,646,000 after buying an additional 2,540 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Sysco during the 1st quarter valued at approximately $1,644,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Sysco by 48.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 5,902 shares of the company’s stock worth $443,000 after acquiring an additional 1,921 shares in the last quarter. Finally, Wealthfront Advisers LLC grew its holdings in shares of Sysco by 6.0% in the 1st quarter. Wealthfront Advisers LLC now owns 66,913 shares of the company’s stock worth $5,021,000 after acquiring an additional 3,780 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Sysco news, EVP Ronald L. Phillips sold 961 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $81.00, for a total transaction of $77,841.00. Following the sale, the executive vice president owned 41,501 shares in the company, valued at $3,361,581. This represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.56% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on SYY. Weiss Ratings downgraded Sysco from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, November 7th. Wells Fargo & Company set a $88.00 price target on shares of Sysco and gave the company an “overweight” rating in a report on Tuesday, July 29th. UBS Group set a $90.00 price objective on shares of Sysco in a research note on Wednesday, July 30th. Bank of America upped their target price on Sysco from $81.00 to $93.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Finally, Truist Financial increased their target price on Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. Nine research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $87.00.

Sysco Stock Down 0.1%

Shares of NYSE:SYY opened at $75.39 on Thursday. The stock has a 50-day simple moving average of $79.11 and a 200-day simple moving average of $77.16. The stock has a market capitalization of $36.10 billion, a P/E ratio of 20.21, a PEG ratio of 2.19 and a beta of 0.79. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $83.47. The company has a debt-to-equity ratio of 5.54, a quick ratio of 0.70 and a current ratio of 1.15.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. Sysco had a return on equity of 112.04% and a net margin of 2.21%.The company had revenue of $21.15 billion for the quarter, compared to analysts’ expectations of $21.03 billion. During the same quarter in the previous year, the firm posted $1.09 earnings per share. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Equities analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 2nd will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, January 2nd. 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.