Pitcairn Co. Sells 12,656 Shares of Sysco Corporation $SYY

Pitcairn Co. cut its holdings in shares of Sysco Corporation (NYSE:SYY) by 45.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,426 shares of the company’s stock after selling 12,656 shares during the period. Pitcairn Co.’s holdings in Sysco were worth $1,270,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SYY. Jackson Grant Investment Advisers Inc. bought a new stake in Sysco in the third quarter worth about $25,000. Harbor Capital Advisors Inc. increased its position in shares of Sysco by 75.0% in the third quarter. Harbor Capital Advisors Inc. now owns 315 shares of the company’s stock worth $26,000 after purchasing an additional 135 shares during the last quarter. Peterson Wealth Services lifted its holdings in shares of Sysco by 875.7% during the 3rd quarter. Peterson Wealth Services now owns 361 shares of the company’s stock worth $30,000 after acquiring an additional 324 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in Sysco during the second quarter worth about $31,000. Finally, Vermillion & White Wealth Management Group LLC boosted its stake in Sysco by 94.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 419 shares of the company’s stock worth $32,000 after buying an additional 204 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group raised their price target on shares of Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Wall Street Zen raised Sysco from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. BMO Capital Markets reiterated an “outperform” rating on shares of Sysco in a report on Wednesday, January 28th. Wells Fargo & Company upped their price objective on shares of Sysco from $92.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, February 19th. Finally, Truist Financial lifted their target price on shares of Sysco from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Sysco currently has an average rating of “Moderate Buy” and a consensus target price of $90.31.

Sysco Stock Down 0.6%

SYY opened at $85.30 on Friday. The stock has a market cap of $40.85 billion, a price-to-earnings ratio of 22.93, a price-to-earnings-growth ratio of 2.67 and a beta of 0.58. 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’s fifty day moving average is $82.35 and its 200 day moving average is $79.35. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $91.85.

Sysco (NYSE:SYY) last issued its quarterly earnings data 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. Sysco had a return on equity of 109.21% and a net margin of 2.17%.The firm had revenue of $20.76 billion during the quarter, compared to analyst estimates of $20.80 billion. During the same quarter last year, the business posted $0.93 earnings per share. The business’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. On average, sell-side analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 24th. Investors of record on Thursday, April 2nd will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Thursday, April 2nd. Sysco’s payout ratio is presently 58.06%.

Insider Activity at Sysco

In related news, Director Sheila Talton sold 2,801 shares of the company’s stock in a transaction 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 completion of the sale, the director directly owned 12,868 shares in the company, valued at $1,067,915.32. This represents a 17.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Ronald L. Phillips sold 5,601 shares of the business’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 transaction of $453,681.00. Following the transaction, the executive vice president owned 35,965 shares of the company’s stock, valued at approximately $2,913,165. This trade represents a 13.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.56% of the stock is currently owned by corporate insiders.

About Sysco

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.