Sysco Corporation $SYY Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its holdings in Sysco Corporation (NYSE:SYY) by 43.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,497,163 shares of the company’s stock after selling 1,918,348 shares during the quarter. Wellington Management Group LLP owned approximately 0.52% of Sysco worth $208,713,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SYY. Intech Investment Management LLC boosted its stake in shares of Sysco by 53.1% during the 1st quarter. Intech Investment Management LLC now owns 22,310 shares of the company’s stock valued at $1,674,000 after buying an additional 7,742 shares during the last quarter. Schnieders Capital Management LLC. raised its holdings in Sysco by 24.1% in the second quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company’s stock valued at $781,000 after acquiring an additional 2,000 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Sysco by 62.4% during the 2nd quarter. NewEdge Advisors LLC now owns 35,447 shares of the company’s stock valued at $2,685,000 after acquiring an additional 13,616 shares during the last quarter. Sei Investments Co. grew its holdings in Sysco by 14.2% during the 2nd quarter. Sei Investments Co. now owns 344,504 shares of the company’s stock worth $26,092,000 after acquiring an additional 42,903 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its position in shares of Sysco by 0.8% in the 2nd quarter. Treasurer of the State of North Carolina now owns 226,648 shares of the company’s stock worth $17,166,000 after purchasing an additional 1,710 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

SYY opened at $81.14 on Tuesday. The firm has a market cap of $38.87 billion, a price-to-earnings ratio of 22.17, a price-to-earnings-growth ratio of 2.80 and a beta of 0.64. Sysco Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85. The company’s 50-day moving average price is $83.11 and its 200 day moving average price is $80.50. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The firm had revenue of $22.12 billion for the quarter, compared to analysts’ expectations of $21.95 billion. Sysco had a net margin of 2.08% and a return on equity of 95.05%. Sysco’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $1.48 earnings per share. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. As a group, sell-side analysts expect that Sysco Corporation will post 5.12 earnings per share for the current year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 2nd will be given 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 yield of 2.7%. Sysco’s payout ratio is currently 60.11%.

Analyst Ratings Changes

SYY has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 19th. UBS Group boosted their price objective on Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Melius Research cut Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Piper Sandler increased their target price on Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Finally, Citigroup lifted their target price on Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Nine equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $89.50.

Insider Buying and Selling

In other news, EVP Ronald L. Phillips sold 7,350 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $83.61, for a total transaction of $614,533.50. Following the completion of the transaction, the executive vice president owned 38,650 shares of the company’s stock, valued at approximately $3,231,526.50. The trade was a 15.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 ninety days, insiders sold 14,508 shares of company stock worth $1,215,250. 0.56% of the stock is owned by corporate insiders.

Sysco 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.