Sysco Corporation $SYY Stock: Mather Group LLC. Trims Stake

Mather Group LLC. reduced its stake in shares of Sysco Corporation (NYSE:SYY) by 38.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 13,881 shares of the company’s stock after selling 8,628 shares during the quarter. Mather Group LLC.’s holdings in Sysco were worth $1,082,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Alliance Wealth Advisors LLC grew its stake in Sysco by 12.7% in the third quarter. Alliance Wealth Advisors LLC now owns 4,026 shares of the company’s stock worth $314,000 after purchasing an additional 453 shares in the last quarter. Columbus Macro LLC increased its holdings in Sysco by 5.8% in the third quarter. Columbus Macro LLC now owns 3,579 shares of the company’s stock valued at $279,000 after buying an additional 197 shares during the last quarter. Mitchell & Pahl Private Wealth LLC raised its stake in Sysco by 4.3% during the third quarter. Mitchell & Pahl Private Wealth LLC now owns 28,298 shares of the company’s stock valued at $2,206,000 after buying an additional 1,165 shares in the last quarter. First Citizens Bank & Trust Co. raised its stake in Sysco by 89.0% during the third quarter. First Citizens Bank & Trust Co. now owns 21,857 shares of the company’s stock valued at $1,704,000 after buying an additional 10,294 shares in the last quarter. Finally, Focus Financial Network Inc. lifted its holdings in Sysco by 13.6% during the 3rd quarter. Focus Financial Network Inc. now owns 3,306 shares of the company’s stock worth $258,000 after buying an additional 396 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

SYY has been the subject of several research reports. Melius Research lowered Sysco from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. lowered their price target on Sysco from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, September 29th. Weiss Ratings raised Sysco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday. Piper Sandler upped their price target on Sysco from $77.00 to $84.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Finally, UBS Group raised their price objective on Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Nine analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $90.42.

Insider Buying and Selling

In other Sysco news, EVP Ronald Phillips sold 7,350 shares of Sysco stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $83.61, for a total value of $614,533.50. Following the completion of the transaction, the executive vice president directly owned 38,650 shares in the company, valued at $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 is available at this link. 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. Insiders sold 15,525 shares of company stock valued at $1,299,736 in the last three months. Insiders own 0.55% of the company’s stock.

Sysco Stock Performance

Shares of Sysco stock traded up $0.08 during trading hours on Friday, reaching $82.23. The company’s stock had a trading volume of 2,536,147 shares, compared to its average volume of 4,100,611. Sysco Corporation has a one year low of $68.19 and a one year high of $91.85. The company’s 50 day simple moving average is $80.64 and its 200 day simple moving average is $78.89. The company has a debt-to-equity ratio of 4.62, a quick ratio of 0.77 and a current ratio of 1.28. The stock has a market cap of $40.45 billion, a P/E ratio of 22.47, a price-to-earnings-growth ratio of 2.87 and a beta of 0.64.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 earnings per share 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 business had revenue of $22.12 billion during the quarter, compared to the consensus estimate of $21.95 billion. During the same quarter in the prior year, the firm earned $1.48 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. 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, analysts expect that Sysco Corporation will post 5.10 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd will be issued a $0.55 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 2.7%. Sysco’s dividend payout ratio (DPR) is currently 60.11%.

Sysco Profile

Sysco Corporation is a global foodservice distributor headquartered in Houston, Texas. The company supplies restaurants, hotels, healthcare facilities, educational institutions, government organizations and other foodservice customers with a broad range of products and related services.

Sysco’s offerings include fresh and frozen foods, meat and seafood, dairy products, produce, canned and dry goods, beverages, specialty and international foods, and prepared and ready-to-use items. The company also distributes nonfood products such as kitchen equipment, tableware, cleaning supplies and other operating supplies.