Azzad Asset Management Inc. ADV Sells 17,948 Shares of Sysco Corporation $SYY

Azzad Asset Management Inc. ADV lessened its position in shares of Sysco Corporation (NYSE:SYY) by 34.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,985 shares of the company’s stock after selling 17,948 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Sysco were worth $2,798,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in SYY. Norges Bank acquired a new stake in shares of Sysco during the second quarter worth $493,686,000. Vanguard Group Inc. boosted its holdings in Sysco by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 62,691,177 shares of the company’s stock valued at $4,748,230,000 after purchasing an additional 1,226,381 shares during the period. Marshall Wace LLP grew 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 in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Sysco by 143.2% during the second 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 period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in shares of Sysco by 163.1% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 710,900 shares of the company’s stock valued at $58,536,000 after buying an additional 440,700 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Insider Activity

In other news, EVP Ronald L. Phillips sold 5,601 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $81.00, for a total value of $453,681.00. Following the completion of the transaction, the executive vice president owned 35,965 shares of the company’s stock, valued at $2,913,165. This represents a 13.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Sheila Talton sold 2,801 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $82.99, for a total transaction of $232,454.99. Following the sale, the director directly owned 12,868 shares in the company, valued at $1,067,915.32. The trade was a 17.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Barclays lifted their price objective on Sysco from $88.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. JPMorgan Chase & Co. boosted their price target on Sysco from $85.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Piper Sandler increased their price objective on shares of Sysco from $80.00 to $83.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. Morgan Stanley decreased their target price on shares of Sysco from $88.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 20th. Finally, Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Nine analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and a consensus price target of $89.38.

Sysco Trading Up 2.2%

Shares of Sysco stock opened at $86.52 on Monday. The firm’s 50 day moving average is $76.50 and its 200 day moving average is $78.11. The firm has a market capitalization of $41.44 billion, a PE ratio of 23.26, a price-to-earnings-growth ratio of 2.69 and a beta of 0.61. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $86.72. The company has a current ratio of 1.30, a quick ratio of 0.75 and a debt-to-equity ratio of 5.45.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 27th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. The firm had revenue of $20.76 billion for the quarter, compared to analyst estimates of $20.80 billion. Sysco had a net margin of 2.17% and a return on equity of 109.21%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business posted $0.93 earnings per share. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. Equities research analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 23rd. Stockholders of record on Friday, January 2nd were paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, January 2nd. Sysco’s dividend payout ratio (DPR) is presently 58.06%.

Sysco 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.