Kornitzer Capital Management Inc. KS Sells 8,227 Shares of Sysco Corporation $SYY

Kornitzer Capital Management Inc. KS trimmed its stake in Sysco Corporation (NYSE:SYY) by 5.0% during the 4th quarter, Holdings Channel reports. The firm owned 154,909 shares of the company’s stock after selling 8,227 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Sysco were worth $11,415,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. PFA Pension Forsikringsaktieselskab bought a new position in Sysco during the fourth quarter valued at approximately $52,672,000. Horizon Investments LLC grew its position in Sysco by 6.1% during the fourth quarter. Horizon Investments LLC now owns 16,126 shares of the company’s stock valued at $1,180,000 after acquiring an additional 933 shares during the last quarter. Fifth Third Bancorp grew its position in Sysco by 1.3% during the fourth quarter. Fifth Third Bancorp now owns 192,598 shares of the company’s stock valued at $14,193,000 after acquiring an additional 2,542 shares during the last quarter. Danske Bank A S grew its position in Sysco by 33.8% during the fourth quarter. Danske Bank A S now owns 643,774 shares of the company’s stock valued at $47,440,000 after acquiring an additional 162,765 shares during the last quarter. Finally, Mutual Advisors LLC grew its position in Sysco by 2.1% during the fourth quarter. Mutual Advisors LLC now owns 9,277 shares of the company’s stock valued at $684,000 after acquiring an additional 190 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.

Sysco Trading Down 0.8%

Shares of NYSE:SYY opened at $74.08 on Friday. Sysco Corporation has a 52-week low of $68.19 and a 52-week high of $91.85. The company has a debt-to-equity ratio of 5.58, a quick ratio of 0.75 and a current ratio of 1.33. The stock has a market capitalization of $35.42 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 3.62 and a beta of 0.66. The stock’s 50-day simple moving average is $79.95 and its two-hundred day simple moving average is $78.41.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). Sysco had a return on equity of 103.57% and a net margin of 2.08%.The firm had revenue of $20.52 billion during the quarter, compared to the consensus estimate of $20.56 billion. During the same period in the prior year, the company posted $0.96 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. Analysts expect that Sysco Corporation will post 4.59 EPS for the current year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Thursday, July 2nd will be issued a dividend of $0.55 per share. This is a positive change from Sysco’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.20 annualized dividend and a dividend yield of 3.0%. Sysco’s payout ratio is currently 59.83%.

Analyst Ratings Changes

A number of research analysts have commented on SYY shares. Argus upgraded shares of Sysco to a “hold” rating in a research report on Thursday, January 29th. Truist Financial raised their price target on Sysco from $90.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Sanford C. Bernstein dropped their price target on Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a research note on Wednesday. Barclays decreased their price objective on Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. increased their price objective on Sysco from $85.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, January 28th. Nine equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.15.

Insider Activity

In other news, Director Sheila Talton sold 2,801 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $82.99, for a total transaction of $232,454.99. Following the transaction, the director owned 12,868 shares of the company’s stock, valued at approximately $1,067,915.32. The trade was a 17.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.56% of the stock is owned by company insiders.

About Sysco

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.