Gradient Investments LLC Cuts Position in Sysco Corporation $SYY

Gradient Investments LLC trimmed its holdings in shares of Sysco Corporation (NYSE:SYY) by 91.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 15,465 shares of the company’s stock after selling 173,704 shares during the period. Gradient Investments LLC’s holdings in Sysco were worth $1,273,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank bought a new stake in Sysco in the second quarter worth $493,686,000. Vanguard Group Inc. boosted its stake in Sysco by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 62,691,177 shares of the company’s stock worth $4,748,230,000 after purchasing an additional 1,226,381 shares in the last quarter. Amundi grew its position in Sysco by 36.5% during the 1st quarter. Amundi now owns 3,725,508 shares of the company’s stock valued at $280,941,000 after purchasing an additional 995,498 shares during the last quarter. Marshall Wace LLP increased its stake in 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, Arrowstreet Capital Limited Partnership raised its holdings in Sysco by 143.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,215,260 shares of the company’s stock worth $92,044,000 after buying an additional 715,663 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SYY shares. Piper Sandler cut their price target on shares of Sysco from $81.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, December 12th. Sanford C. Bernstein began coverage on Sysco in a report on Wednesday, October 22nd. They issued a “market perform” rating and a $83.00 target price for the company. Guggenheim boosted their price target on Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Morgan Stanley set a $88.00 price target on Sysco in a report on Tuesday, October 21st. Finally, Wall Street Zen downgraded Sysco from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $85.92.

Sysco Stock Performance

SYY stock opened at $75.69 on Thursday. The company has a debt-to-equity ratio of 5.54, a current ratio of 1.15 and a quick ratio of 0.65. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $83.47. The company has a market cap of $36.25 billion, a P/E ratio of 20.29, a price-to-earnings-growth ratio of 2.47 and a beta of 0.61. The stock’s fifty day moving average price is $75.76 and its 200-day moving average price is $77.75.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.03. The company 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 revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, equities analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 2nd will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, January 2nd. Sysco’s payout ratio is 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.