Cigna Investments Inc. New Cuts Stock Position in Sysco Corporation $SYY

Cigna Investments Inc. New trimmed its holdings in Sysco Corporation (NYSE:SYY) by 4.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,646 shares of the company’s stock after selling 202 shares during the period. Cigna Investments Inc. New’s holdings in Sysco were worth $352,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SYY. Rialto Wealth Management LLC boosted its stake in Sysco by 188.7% in the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company’s stock worth $25,000 after purchasing an additional 217 shares during the period. Golden State Wealth Management LLC lifted its holdings in shares of Sysco by 48.4% in 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 in the last quarter. N.E.W. Advisory Services LLC bought a new position in shares of Sysco during the first quarter worth $33,000. Cheviot Value Management LLC purchased a new position in Sysco during the first quarter valued at $34,000. Finally, Ameriflex Group Inc. bought a new stake in Sysco in the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Activity at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 961 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $81.00, for a total value of $77,841.00. Following the transaction, the executive vice president owned 41,501 shares of the company’s stock, valued at $3,361,581. This represents a 2.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total value of $3,200,000.00. Following the sale, the executive vice president owned 56,304 shares of the company’s stock, valued at approximately $4,504,320. This trade represents a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,338 shares of company stock worth $7,439,331. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Barclays increased their price objective on shares of Sysco from $77.00 to $82.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Truist Financial boosted their target price on Sysco from $81.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Bank of America raised their price target on Sysco from $81.00 to $93.00 and gave the company a “buy” rating in a report on Friday, July 18th. Wells Fargo & Company set a $88.00 price objective on Sysco and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Finally, Morgan Stanley raised their target price on shares of Sysco from $72.00 to $77.00 and gave the company an “equal weight” rating in a report on Monday, July 14th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.69.

Sysco Stock Down 0.9%

Shares of SYY opened at $81.08 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. The business has a fifty day moving average of $80.53 and a 200 day moving average of $75.74. The company has a market cap of $39.30 billion, a PE ratio of 21.74, a P/E/G ratio of 2.53 and a beta of 0.80. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $83.24.

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

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.7%. Sysco’s dividend payout ratio is currently 57.91%.

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.