Sysco Corporation $SYY Stock Holdings Lowered by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lowered its position in Sysco Corporation (NYSE:SYY) by 6.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 190,956 shares of the company’s stock after selling 12,988 shares during the period. Crossmark Global Holdings Inc.’s holdings in Sysco were worth $14,887,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SYY. Sawyer & Company Inc bought a new stake in shares of Sysco in the third quarter worth about $2,811,000. Pinnacle Associates Ltd. lifted its holdings in shares of Sysco by 2.1% during the 3rd quarter. Pinnacle Associates Ltd. now owns 7,399 shares of the company’s stock valued at $577,000 after purchasing an additional 150 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Sysco by 6.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 271,500 shares of the company’s stock valued at $21,166,000 after purchasing an additional 16,710 shares in the last quarter. Islay Capital Management LLC acquired a new position in shares of Sysco in the 3rd quarter valued at approximately $761,000. Finally, Tred Avon Family Wealth LLC grew its position in shares of Sysco by 14.5% in the 3rd quarter. Tred Avon Family Wealth LLC now owns 10,149 shares of the company’s stock valued at $791,000 after purchasing an additional 1,286 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Down 1.1%

Shares of SYY stock opened at $82.00 on Thursday. The firm’s fifty day moving average price is $80.52 and its two-hundred day moving average price is $79.18. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62. Sysco Corporation has a 1 year low of $68.19 and a 1 year high of $91.85. The firm has a market capitalization of $40.34 billion, a P/E ratio of 22.41, a PEG ratio of 2.84 and a beta of 0.64.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, topping 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 the consensus estimate of $21.95 billion. During the same period in the prior year, the business posted $1.48 EPS. The company’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. On average, equities analysts predict that Sysco Corporation will post 5.10 EPS for the current fiscal year.

Sysco Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Weiss Ratings raised Sysco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 15th. Piper Sandler lifted their price target on shares of Sysco from $77.00 to $84.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Wall Street Zen raised shares of Sysco from a “hold” rating to a “buy” rating in a research note on Saturday, October 3rd. UBS Group upped their price target on shares of Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Morgan Stanley upped their price target on shares of Sysco from $88.00 to $91.00 and gave the company an “equal weight” rating in a report on Thursday, October 15th. Nine investment 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.42.

Insider Transactions at Sysco

In related news, EVP Ronald Phillips sold 960 shares of the company’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $83.00, for a total transaction of $79,680.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 a total of 15,525 shares of company stock worth $1,299,736 in the last 90 days. Corporate insiders own 0.55% of the company’s stock.

About Sysco

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.