Sysco Corporation $SYY Position Lessened by Baker Avenue Asset Management LP

Baker Avenue Asset Management LP lowered its position in Sysco Corporation (NYSE:SYY) by 92.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,250 shares of the company’s stock after selling 90,174 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Sysco were worth $549,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cary Street Partners Financial LLC grew its stake in shares of Sysco by 5.5% in the 2nd quarter. Cary Street Partners Financial LLC now owns 119,140 shares of the company’s stock valued at $9,024,000 after buying an additional 6,209 shares in the last quarter. Morton Community Bank grew its position in Sysco by 6.4% in the second quarter. Morton Community Bank now owns 44,375 shares of the company’s stock worth $3,361,000 after acquiring an additional 2,650 shares in the last quarter. Cresset Asset Management LLC increased its stake in shares of Sysco by 1.8% during the 2nd quarter. Cresset Asset Management LLC now owns 88,017 shares of the company’s stock worth $6,666,000 after purchasing an additional 1,594 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Sysco by 207.6% during the 2nd quarter. Marshall Wace LLP now owns 1,164,656 shares of the company’s stock valued at $88,211,000 after purchasing an additional 785,995 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Sysco by 12.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,401 shares of the company’s stock valued at $258,000 after purchasing an additional 369 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Sysco news, EVP Ronald L. Phillips sold 961 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $81.00, for a total transaction of $77,841.00. Following the completion of the transaction, the executive vice president owned 41,501 shares in the company, valued at $3,361,581. This trade represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.56% of the stock is currently owned by corporate insiders.

Sysco Price Performance

Shares of SYY stock opened at $72.61 on Wednesday. The company has a market capitalization of $34.77 billion, a P/E ratio of 19.47, a P/E/G ratio of 2.38 and a beta of 0.61. The company has a current ratio of 1.15, a quick ratio of 0.65 and a debt-to-equity ratio of 5.54. Sysco Corporation has a 12 month low of $67.12 and a 12 month high of $83.47. The stock has a 50 day moving average of $76.55 and a two-hundred day moving average of $77.67.

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

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 2nd will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, January 2nd. Sysco’s dividend payout ratio is 57.91%.

Analysts Set New Price Targets

Several equities analysts have commented on SYY shares. Guggenheim increased their target price on shares of Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Morgan Stanley set a $88.00 target price on Sysco in a report on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Sysco in a report on Monday, December 1st. Finally, Citigroup dropped their price target on shares of Sysco from $86.00 to $82.00 and set a “neutral” rating on the stock in a research report on Monday, November 3rd. Nine equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.00.

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.