Sysco Corporation $SYY Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. decreased its holdings in Sysco Corporation (NYSE:SYY) by 2.0% in the third quarter, Holdings Channel reports. The fund owned 467,346 shares of the company’s stock after selling 9,578 shares during the period. Sysco accounts for approximately 1.2% of Meyer Handelman Co.’s investment portfolio, making the stock its 26th largest holding. Meyer Handelman Co.’s holdings in Sysco were worth $38,481,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. 1620 Investment Advisors Inc. increased its holdings in shares of Sysco by 2.6% in the third quarter. 1620 Investment Advisors Inc. now owns 4,904 shares of the company’s stock valued at $404,000 after purchasing an additional 126 shares during the last quarter. Facet Wealth Inc. increased its stake in shares of Sysco by 1.2% in the 2nd quarter. Facet Wealth Inc. now owns 10,671 shares of the company’s stock worth $849,000 after acquiring an additional 131 shares during the last quarter. Ellis Investment Partners LLC raised its holdings in shares of Sysco by 4.9% during the 2nd quarter. Ellis Investment Partners LLC now owns 2,820 shares of the company’s stock worth $214,000 after acquiring an additional 133 shares during the period. Harbor Capital Advisors Inc. raised its holdings in shares of Sysco by 75.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 315 shares of the company’s stock worth $26,000 after acquiring an additional 135 shares during the period. Finally, Stephens Inc. AR boosted its position in shares of Sysco by 0.6% during the 2nd quarter. Stephens Inc. AR now owns 25,040 shares of the company’s stock valued at $1,897,000 after acquiring an additional 140 shares during the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Sanford C. Bernstein began coverage on shares of Sysco in a research note on Wednesday, October 22nd. They set a “market perform” rating and a $83.00 target price on the stock. Morgan Stanley set a $88.00 price target on shares of Sysco in a research report on Tuesday, October 21st. Piper Sandler decreased their price objective on Sysco from $81.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, December 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of Sysco in a research note on Monday. Finally, Citigroup decreased their price target on Sysco from $86.00 to $82.00 and set a “neutral” rating on the stock in a research note on Monday, November 3rd. Eight analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $85.92.

Sysco Stock Down 0.1%

Shares of NYSE SYY opened at $74.21 on Friday. The company has a quick ratio of 0.65, a current ratio of 1.15 and a debt-to-equity ratio of 5.54. The business’s 50 day moving average is $75.11 and its two-hundred day moving average is $77.75. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $83.47. The firm has a market cap of $35.53 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 2.44 and a beta of 0.61.

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

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Shareholders of record on Friday, January 2nd will be paid a dividend of $0.54 per share. The ex-dividend date is Friday, January 2nd. This represents a $2.16 dividend on an annualized basis and a yield of 2.9%. Sysco’s dividend payout ratio is 57.91%.

Sysco Company Profile

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.