Wendell David Associates Inc. Has $4.60 Million Holdings in Sysco Corporation $SYY

Wendell David Associates Inc. cut its stake in Sysco Corporation (NYSE:SYY) by 0.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 60,700 shares of the company’s stock after selling 225 shares during the quarter. Wendell David Associates Inc.’s holdings in Sysco were worth $4,597,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Ellis Investment Partners LLC increased its holdings in Sysco by 4.9% during the 2nd quarter. Ellis Investment Partners LLC now owns 2,820 shares of the company’s stock valued at $214,000 after purchasing an additional 133 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in Sysco by 48.4% during the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock valued at $32,000 after purchasing an additional 140 shares in the last quarter. Trust Co of the South increased its holdings in Sysco by 3.0% during the 2nd quarter. Trust Co of the South now owns 4,849 shares of the company’s stock valued at $367,000 after purchasing an additional 142 shares in the last quarter. NorthRock Partners LLC increased its holdings in Sysco by 2.2% during the 2nd quarter. NorthRock Partners LLC now owns 6,514 shares of the company’s stock valued at $493,000 after purchasing an additional 142 shares in the last quarter. Finally, Chicago Partners Investment Group LLC increased its holdings in Sysco by 1.6% during the 1st quarter. Chicago Partners Investment Group LLC now owns 8,898 shares of the company’s stock valued at $627,000 after purchasing an additional 143 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Up 1.4%

NYSE:SYY opened at $79.92 on Friday. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $83.47. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. The firm has a market capitalization of $38.24 billion, a P/E ratio of 21.42, a P/E/G ratio of 2.47 and a beta of 0.82. The stock’s fifty day simple moving average is $80.73 and its 200-day simple moving average is $76.55.

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

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, October 3rd. Sysco’s dividend payout ratio (DPR) is currently 57.91%.

Wall Street Analyst Weigh In

SYY has been the subject of a number of recent analyst reports. Bank of America raised their price target on Sysco from $81.00 to $93.00 and gave the company a “buy” rating in a report on Friday, July 18th. Wells Fargo & Company set a $88.00 price target on Sysco and gave the company an “overweight” rating in a report on Tuesday, July 29th. Truist Financial increased their price objective on Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. Guggenheim increased their price objective on Sysco from $87.00 to $89.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Finally, UBS Group set a $90.00 price objective on Sysco in a research report on Wednesday, July 30th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Sysco has a consensus rating of “Moderate Buy” and a consensus target price of $86.46.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 37,606 shares of Sysco stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the transaction, the executive vice president directly owned 30,235 shares in the company, valued at approximately $2,449,035. The trade was a 55.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total value of $3,200,000.00. Following the transaction, the executive vice president 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 disclosure for this sale can be found here. Insiders sold a total of 92,338 shares of company stock worth $7,439,331 over the last 90 days. 0.56% of the stock is owned by corporate insiders.

Sysco Company Profile

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.