Sysco Corporation $SYY Stake Cut by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. lessened its holdings in Sysco Corporation (NYSE:SYY) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 178,684 shares of the company’s stock after selling 8,551 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Sysco were worth $14,713,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Sysco during the 2nd quarter valued at about $493,686,000. Vanguard Group Inc. boosted its stake in Sysco by 2.0% in the second quarter. Vanguard Group Inc. now owns 62,691,177 shares of the company’s stock valued at $4,748,230,000 after acquiring an additional 1,226,381 shares during the period. Amundi grew its holdings in shares of Sysco by 36.5% during the first 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 raised its position 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 worth $88,211,000 after purchasing an additional 785,995 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Sysco by 143.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,215,260 shares of the company’s stock worth $92,044,000 after purchasing an additional 715,663 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Performance

SYY opened at $74.45 on Tuesday. The business has a 50 day moving average price of $75.00 and a two-hundred day moving average price of $77.78. The company has a debt-to-equity ratio of 5.54, a current ratio of 1.15 and a quick ratio of 0.65. The company has a market capitalization of $35.65 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 2.44 and a beta of 0.61. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $83.47.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.03. The company had revenue of $21.15 billion for 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%.The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period last year, the firm earned $1.09 EPS. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Shareholders of record on Friday, January 2nd will be 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 is Friday, January 2nd. Sysco’s dividend payout ratio is presently 57.91%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SYY. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sysco in a research note on Monday, December 22nd. Sanford C. Bernstein assumed coverage on shares of Sysco in a research note on Wednesday, October 22nd. They issued a “market perform” rating and a $83.00 price target on the stock. Morgan Stanley set a $88.00 price objective on Sysco in a report on Tuesday, October 21st. Citigroup cut their target price on Sysco from $86.00 to $82.00 and set a “neutral” rating on the stock in a research note on Monday, November 3rd. Finally, Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.92.

Sysco Company Profile

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.