GEM Asset Management LLC Sells 39,843 Shares of Sysco Corporation $SYY

GEM Asset Management LLC lessened its holdings in shares of Sysco Corporation (NYSE:SYY) by 9.7% in the third quarter, Holdings Channel.com reports. The firm owned 370,623 shares of the company’s stock after selling 39,843 shares during the period. Sysco comprises about 11.9% of GEM Asset Management LLC’s investment portfolio, making the stock its biggest position. GEM Asset Management LLC’s holdings in Sysco were worth $28,894,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. grew its stake in Sysco by 12.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 3,876 shares of the company’s stock valued at $302,000 after buying an additional 444 shares in the last quarter. Sax Wealth Advisors LLC raised its holdings in Sysco by 30.4% during the 3rd quarter. Sax Wealth Advisors LLC now owns 7,643 shares of the company’s stock valued at $596,000 after acquiring an additional 1,784 shares during the period. NorthCrest Asset Manangement LLC lifted its position in shares of Sysco by 11.9% during the third quarter. NorthCrest Asset Manangement LLC now owns 8,787 shares of the company’s stock worth $687,000 after acquiring an additional 935 shares in the last quarter. Woodstock Corp lifted its position in shares of Sysco by 0.8% during the third quarter. Woodstock Corp now owns 84,300 shares of the company’s stock worth $6,572,000 after acquiring an additional 665 shares in the last quarter. Finally, Wedmont Private Capital lifted its position in shares of Sysco by 26.2% during the third quarter. Wedmont Private Capital now owns 9,933 shares of the company’s stock worth $777,000 after acquiring an additional 2,065 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling at Sysco

In other news, EVP Ronald Phillips sold 7,350 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $83.61, for a total value of $614,533.50. Following the transaction, the executive vice president owned 38,650 shares of the company’s stock, valued at approximately $3,231,526.50. This represents a 15.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 have sold a total of 15,525 shares of company stock valued at $1,299,736 over the last quarter. Corporate insiders own 0.55% of the company’s stock.

Sysco Price Performance

Shares of NYSE:SYY opened at $78.98 on Wednesday. The company has a 50 day moving average of $80.79 and a 200 day moving average of $78.88. The stock has a market cap of $38.85 billion, a P/E ratio of 17.07, a P/E/G ratio of 2.74 and a beta of 0.64. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85. 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 (NYSE:SYY) last posted its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share 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 business had revenue of $22.12 billion for the quarter, compared to analyst estimates of $21.95 billion. During the same quarter in the prior year, the firm posted $1.48 EPS. Sysco’s 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. As a group, sell-side analysts forecast that Sysco Corporation will post 5.10 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, October 2nd. Sysco’s payout ratio is 60.11%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SYY shares. Weiss Ratings lowered Sysco from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, September 28th. Wall Street Zen upgraded Sysco from a “hold” rating to a “buy” rating in a research note on Saturday, October 3rd. Citigroup boosted their price objective on Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Melius Research cut Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Finally, Morgan Stanley raised their target price on Sysco from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. Nine equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.17.

Sysco Profile

Sysco Corporation is a global foodservice distributor headquartered in Houston, Texas. The company supplies restaurants, hotels, healthcare facilities, educational institutions, government organizations and other foodservice customers with a broad range of products and related services.

Sysco’s offerings include fresh and frozen foods, meat and seafood, dairy products, produce, canned and dry goods, beverages, specialty and international foods, and prepared and ready-to-use items. The company also distributes nonfood products such as kitchen equipment, tableware, cleaning supplies and other operating supplies.