Burney Co. Cuts Stock Position in Sysco Corporation $SYY

Burney Co. cut its holdings in shares of Sysco Corporation (NYSE:SYY) by 2.8% during the second quarter, Holdings Channel reports. The firm owned 26,353 shares of the company’s stock after selling 763 shares during the quarter. Burney Co.’s holdings in Sysco were worth $1,996,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Facet Wealth Inc. increased its stake in Sysco by 1.2% during the second quarter. Facet Wealth Inc. now owns 10,671 shares of the company’s stock worth $849,000 after purchasing an additional 131 shares during the period. Ellis Investment Partners LLC increased its stake in shares of Sysco by 4.9% during the second quarter. Ellis Investment Partners LLC now owns 2,820 shares of the company’s stock worth $214,000 after buying an additional 133 shares during the period. Stephens Inc. AR increased its stake in shares of Sysco by 0.6% during the second quarter. Stephens Inc. AR now owns 25,040 shares of the company’s stock worth $1,897,000 after buying an additional 140 shares during the period. Trust Co of the South increased its stake in shares of Sysco by 3.0% during the second quarter. Trust Co of the South now owns 4,849 shares of the company’s stock worth $367,000 after buying an additional 142 shares during the period. Finally, NorthRock Partners LLC increased its stake in shares of 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 buying an additional 142 shares during the period. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Stock Performance

Shares of SYY opened at $73.04 on Wednesday. The stock has a 50 day moving average price of $79.82 and a 200 day moving average price of $77.10. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 5.54. The company has a market capitalization of $34.98 billion, a price-to-earnings ratio of 19.58, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $83.47.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $1.15 earnings per share (EPS) for the quarter, beating 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 return on equity of 112.04% and a net margin of 2.21%.The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.09 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Research analysts predict that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wells Fargo & Company set a $88.00 target price on shares of Sysco and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Weiss Ratings upgraded shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 24th. Bank of America upped their target price on shares of Sysco from $81.00 to $93.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Guggenheim upped their target price on shares of Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Finally, UBS Group set a $90.00 target price on shares of Sysco in a research note on Wednesday, July 30th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.00.

Insider Activity

In other news, EVP Ronald L. Phillips sold 7,351 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 41,837 shares in the company, valued at approximately $3,388,797. This trade represents a 14.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 14,732 shares of company stock worth $1,193,245 in the last 90 days. Company insiders own 0.56% of the company’s stock.

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.