Sysco Corporation $SYY Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. cut its position in Sysco Corporation (NYSE:SYY) by 38.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,686 shares of the company’s stock after selling 3,515 shares during the quarter. Bessemer Group Inc.’s holdings in Sysco were worth $431,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Chung Wu Investment Group LLC acquired a new stake in Sysco during the 2nd quarter worth approximately $30,000. N.E.W. Advisory Services LLC acquired a new position in Sysco during the first quarter worth $33,000. Cheviot Value Management LLC acquired a new position in Sysco during the first quarter worth $34,000. 1248 Management LLC acquired a new position in Sysco during the first quarter worth $35,000. Finally, Banque Transatlantique SA purchased a new position in Sysco during the first quarter worth $35,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Citigroup raised their price target on Sysco from $84.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Barclays lifted their target price on Sysco from $82.00 to $86.00 and gave the company an “overweight” rating in a report on Wednesday. Truist Financial boosted their price objective on Sysco from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Morgan Stanley set a $88.00 price objective on Sysco in a research note on Tuesday, October 21st. Finally, UBS Group set a $90.00 price target on 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 company. According to MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and an average target price of $87.31.

Sysco Stock Down 0.5%

NYSE:SYY opened at $74.35 on Monday. The firm has a market capitalization of $35.60 billion, a PE ratio of 19.93, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82. The stock has a 50 day moving average of $80.08 and a 200-day moving average of $77.08. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $83.47. The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 5.54.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, October 28th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.12 by $0.03. Sysco had a return on equity of 112.04% and a net margin of 2.21%.The company had revenue of $21.15 billion during the quarter, compared to analyst estimates of $21.03 billion. During the same period in the prior year, the company earned $1.09 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Analysts predict that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 24th. Investors of record on Friday, October 3rd were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Friday, October 3rd. Sysco’s dividend payout ratio is 57.91%.

Insider Transactions at Sysco

In related news, EVP Ronald L. Phillips sold 7,351 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $81.00, for a total value of $595,431.00. Following the completion of the transaction, the executive vice president directly owned 41,837 shares of the company’s stock, valued at $3,388,797. This represents a 14.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders sold 14,732 shares of company stock valued at $1,193,245. Corporate insiders own 0.56% of the company’s stock.

Sysco 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.