Sysco Corporation $SYY Stock Holdings Trimmed by Schmidt P J Investment Management Inc.

Schmidt P J Investment Management Inc. lowered its holdings in shares of Sysco Corporation (NYSE:SYY) by 16.3% during the 2nd quarter, Holdings Channel reports. The fund owned 10,300 shares of the company’s stock after selling 2,000 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Sysco were worth $780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. raised its stake in Sysco by 8.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,517,244 shares of the company’s stock valued at $114,916,000 after acquiring an additional 118,379 shares in the last quarter. Wealthfront Advisers LLC raised its stake in Sysco by 22.2% during the 2nd quarter. Wealthfront Advisers LLC now owns 81,747 shares of the company’s stock valued at $6,192,000 after acquiring an additional 14,834 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in Sysco by 4.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 100,620 shares of the company’s stock valued at $7,621,000 after acquiring an additional 4,375 shares in the last quarter. Prudent Man Advisors LLC raised its stake in Sysco by 30.3% during the 2nd quarter. Prudent Man Advisors LLC now owns 8,485 shares of the company’s stock valued at $643,000 after acquiring an additional 1,974 shares in the last quarter. Finally, Cabot Wealth Management Inc. raised its stake in Sysco by 3.0% during the 2nd quarter. Cabot Wealth Management Inc. now owns 153,870 shares of the company’s stock valued at $11,654,000 after acquiring an additional 4,436 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SYY shares. Barclays lifted their price target on Sysco from $77.00 to $82.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Bank of America lifted their target price on Sysco from $81.00 to $93.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a report on Saturday. Truist Financial lifted 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. Finally, UBS Group set a $90.00 target price on Sysco in a report on Wednesday, July 30th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $87.00.

Insider Buying and Selling at Sysco

In other news, EVP Ronald L. Phillips sold 7,351 shares of Sysco stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $81.00, for a total transaction of $595,431.00. Following the transaction, the executive vice president owned 41,837 shares in the company, 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 filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 14,732 shares of company stock worth $1,193,245 in the last quarter. Insiders own 0.56% of the company’s stock.

Sysco Stock Performance

Shares of SYY stock opened at $77.30 on Monday. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $83.47. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75. The company has a market capitalization of $36.99 billion, a price-to-earnings ratio of 20.72, a P/E/G ratio of 2.39 and a beta of 0.82. The stock’s fifty day simple moving average is $80.53 and its 200-day simple moving average is $76.88.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $21.01 billion. During the same quarter in the previous year, the company posted $1.39 earnings per share. Sysco’s revenue for the quarter was up 2.8% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, sell-side analysts predict that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm 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 was Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.8%. Sysco’s payout ratio is currently 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.