Allspring Global Investments Holdings LLC Sells 380,834 Shares of Sysco Corporation $SYY

Allspring Global Investments Holdings LLC lessened its position in Sysco Corporation (NYSE:SYY) by 93.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,531 shares of the company’s stock after selling 380,834 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Sysco were worth $1,781,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Jackson Grant Investment Advisers Inc. bought a new stake in Sysco during the 3rd quarter valued at about $25,000. Harbor Capital Advisors Inc. lifted its holdings in Sysco by 75.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 315 shares of the company’s stock valued at $26,000 after buying an additional 135 shares in the last quarter. Peterson Wealth Services lifted its holdings in Sysco by 875.7% during the 3rd quarter. Peterson Wealth Services now owns 361 shares of the company’s stock valued at $30,000 after buying an additional 324 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in Sysco during the 2nd quarter valued at about $31,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in Sysco during the 3rd quarter valued at about $34,000. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Up 2.6%

NYSE:SYY opened at $75.17 on Thursday. Sysco Corporation has a one year low of $67.12 and a one year high of $91.85. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.75 and a current ratio of 1.30. The firm has a market cap of $36.00 billion, a P/E ratio of 20.21, a P/E/G ratio of 2.57 and a beta of 0.69. The firm has a 50-day simple moving average of $83.88 and a 200-day simple moving average of $79.11.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, January 27th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.98 by $0.01. Sysco had a net margin of 2.17% and a return on equity of 109.21%. The business had revenue of $20.76 billion during the quarter, compared to analyst estimates of $20.80 billion. During the same quarter in the previous year, the business posted $0.93 EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. Equities analysts anticipate 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, April 24th. Stockholders of record on Thursday, April 2nd will be issued a $0.54 dividend. The ex-dividend date is Thursday, April 2nd. This represents a $2.16 annualized dividend and a dividend yield of 2.9%. Sysco’s payout ratio is currently 58.06%.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SYY. Morgan Stanley decreased their price objective on shares of Sysco from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, January 20th. Piper Sandler decreased their price objective on shares of Sysco from $83.00 to $77.00 and set a “neutral” rating for the company in a report on Tuesday. BMO Capital Markets reiterated an “outperform” rating on shares of Sysco in a report on Wednesday, January 28th. Wall Street Zen lowered shares of Sysco from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Sysco from $85.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. Nine analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $87.85.

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.