Curbstone Financial Management Corp Decreases Stake in Sysco Corporation $SYY

Curbstone Financial Management Corp lowered its position in Sysco Corporation (NYSE:SYY) by 3.8% during the second quarter, HoldingsChannel reports. The firm owned 29,044 shares of the company’s stock after selling 1,150 shares during the period. Curbstone Financial Management Corp’s holdings in Sysco were worth $2,200,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ellis Investment Partners LLC increased its position in shares of Sysco by 4.9% during the 2nd quarter. Ellis Investment Partners LLC now owns 2,820 shares of the company’s stock worth $214,000 after purchasing an additional 133 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Sysco by 48.4% in the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock valued at $32,000 after buying an additional 140 shares during the period. Trust Co of the South boosted its stake in shares of Sysco by 3.0% in the 2nd quarter. Trust Co of the South now owns 4,849 shares of the company’s stock valued at $367,000 after buying an additional 142 shares during the period. NorthRock Partners LLC lifted its stake in Sysco by 2.2% during the second quarter. NorthRock Partners LLC now owns 6,514 shares of the company’s stock worth $493,000 after purchasing an additional 142 shares during the last quarter. Finally, Chicago Partners Investment Group LLC lifted its stake in Sysco by 1.6% during the first quarter. Chicago Partners Investment Group LLC now owns 8,898 shares of the company’s stock worth $627,000 after purchasing an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Trading Up 1.4%

Shares of SYY stock opened at $79.92 on Friday. The business’s fifty day moving average price is $80.73 and its 200 day moving average price is $76.54. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70. The firm has a market capitalization of $38.24 billion, a PE ratio of 21.42, a P/E/G ratio of 2.43 and a beta of 0.82. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $83.47.

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

Sysco Announces Dividend

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

Insider Activity

In related news, EVP Greg D. Bertrand sold 40,000 shares of the stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the transaction, the executive vice president directly owned 56,304 shares in the company, valued at approximately $4,504,320. This represents a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ronald L. Phillips sold 37,606 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total value of $3,046,086.00. Following the transaction, the executive vice president owned 30,235 shares in the company, valued at $2,449,035. This trade represents a 55.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,338 shares of company stock worth $7,439,331 over the last quarter. 0.56% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Weiss Ratings cut Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Wells Fargo & Company set a $88.00 price objective on Sysco and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Guggenheim boosted their price objective on Sysco from $87.00 to $89.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Citigroup boosted their price objective on Sysco from $84.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Truist Financial boosted their target price on Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and an average price target of $86.46.

About Sysco

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.