Cherry Creek Investment Advisors Inc. Reduces Holdings in Sysco Corporation $SYY

Cherry Creek Investment Advisors Inc. lowered its position in shares of Sysco Corporation (NYSE:SYY) by 7.1% during the second quarter, HoldingsChannel reports. The firm owned 9,681 shares of the company’s stock after selling 741 shares during the period. Cherry Creek Investment Advisors Inc.’s holdings in Sysco were worth $733,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Chung Wu Investment Group LLC purchased a new stake in shares of Sysco during the second quarter valued at approximately $30,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Sysco during the first quarter worth approximately $33,000. Cheviot Value Management LLC acquired a new stake in shares of Sysco during the first quarter worth approximately $34,000. 1248 Management LLC acquired a new stake in shares of Sysco during the first quarter worth approximately $35,000. Finally, Banque Transatlantique SA acquired a new stake in shares of Sysco during the first quarter worth approximately $35,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Activity

In other news, EVP Ronald L. Phillips sold 7,351 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $81.00, for a total transaction of $595,431.00. Following the completion of the transaction, the executive vice president owned 41,837 shares of the company’s stock, valued at approximately $3,388,797. The trade was a 14.94% 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. Insiders have sold a total of 14,732 shares of company stock worth $1,193,245 over the last three months. Insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SYY shares. Wells Fargo & Company set a $88.00 price target on shares of Sysco and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Truist Financial increased their target price on Sysco from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. Wall Street Zen downgraded Sysco from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Sanford C. Bernstein started coverage on Sysco in a report on Wednesday, October 22nd. They set a “market perform” rating and a $83.00 target price on the stock. Finally, Barclays lifted their price objective on shares of Sysco from $82.00 to $86.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and an average target price of $87.00.

Sysco Stock Performance

Sysco stock opened at $73.04 on Wednesday. The company has a market cap of $34.98 billion, a PE ratio of 19.58, a P/E/G ratio of 2.19 and a beta of 0.79. The company has a fifty day moving average price of $79.82 and a two-hundred day moving average price of $77.10. The company has a debt-to-equity ratio of 5.54, a current ratio of 1.15 and a quick ratio of 0.70. Sysco Corporation has a 12 month low of $67.12 and a 12 month high of $83.47.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, October 28th. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. The firm had revenue of $21.15 billion during the quarter, compared to the consensus estimate of $21.03 billion. Sysco had a net margin of 2.21% and a return on equity of 112.04%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.09 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Research analysts expect that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 24th. Stockholders of record on Friday, October 3rd were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.16 annualized dividend and a dividend yield of 3.0%. Sysco’s payout ratio is 57.91%.

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.