17,460 Sysco Corporation $SYY Shares Sold by Investment House LLC

Investment House LLC decreased its position in Sysco Corporation (NYSE:SYY) by 48.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,645 shares of the company’s stock after selling 17,460 shares during the quarter. Investment House LLC’s holdings in Sysco were worth $1,454,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SYY. N.E.W. Advisory Services LLC acquired a new position in Sysco during the second quarter worth about $29,000. Sunbelt Securities Inc. lifted its holdings in Sysco by 87.6% in the 1st quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock valued at $26,000 after acquiring an additional 170 shares during the last quarter. Markowski Investments bought a new position in shares of Sysco during the 2nd quarter valued at about $31,000. Parvin Asset Management LLC bought a new position in shares of Sysco during the 2nd quarter valued at about $32,000. Finally, Tacita Capital Inc bought a new position in shares of Sysco during the 2nd quarter valued at about $35,000. Institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on SYY shares. Piper Sandler boosted their target price on shares of Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. UBS Group raised their target price on shares of Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Wall Street Zen raised Sysco from a “hold” rating to a “buy” rating in a report on Saturday, October 3rd. JPMorgan Chase & Co. dropped their price target on Sysco from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, September 29th. Finally, Guggenheim reiterated a “buy” rating and set a $90.00 price objective on shares of Sysco in a research report on Wednesday, September 16th. Nine equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and an average target price of $90.42.

Insider Activity at Sysco

In related news, EVP Ronald Phillips sold 960 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $83.00, for a total value of $79,680.00. Following the completion of the sale, the executive vice president owned 49,852 shares in the company, valued at approximately $4,137,716. This represents a 1.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 15,525 shares of company stock valued at $1,299,736. 0.55% of the stock is currently owned by corporate insiders.

Sysco Trading Up 2.2%

Shares of SYY opened at $83.88 on Friday. The business’s 50-day moving average price is $80.53 and its 200 day moving average price is $79.27. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62. The stock has a market capitalization of $41.26 billion, a P/E ratio of 22.92, a P/E/G ratio of 2.81 and a beta of 0.64. Sysco Corporation has a 1-year low of $68.19 and a 1-year high of $91.85.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The company had revenue of $22.12 billion during the quarter, compared to analyst estimates of $21.95 billion. During the same period in the prior year, the firm earned $1.48 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. Analysts expect that Sysco Corporation will post 5.10 earnings per share for the current year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd will be issued a dividend of $0.55 per share. The ex-dividend date is Friday, October 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.6%. Sysco’s payout ratio is currently 60.11%.

Sysco Company Profile

Sysco Corporation is a global foodservice distribution company headquartered in Houston, Texas. It supplies food and related products to restaurants, healthcare and educational institutions, hotels, government facilities, and other foodservice operators.

The company distributes a broad range of products, including fresh and frozen foods, meat and seafood, produce, dairy products, canned and packaged goods, beverages, and specialty food items. Sysco also provides nonfood products such as kitchen and dining supplies, equipment, and cleaning products, along with services intended to help customers manage menus, procurement, and operations.

Founded in 1969, Sysco serves customers primarily across the United States and Canada, as well as in parts of Europe and other international markets.