Welch & Forbes LLC Decreases Position in Sysco Corporation $SYY

Welch & Forbes LLC decreased its stake in Sysco Corporation (NYSE:SYY) by 13.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,287 shares of the company’s stock after selling 8,823 shares during the period. Welch & Forbes LLC’s holdings in Sysco were worth $4,221,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Sysco by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company’s stock worth $4,591,281,000 after buying an additional 814,270 shares during the period. State Street Corp boosted its position in shares of Sysco by 0.9% in the third quarter. State Street Corp now owns 26,669,576 shares of the company’s stock worth $2,195,973,000 after buying an additional 246,542 shares during the period. Capital Research Global Investors boosted its position in shares of Sysco by 0.3% in the third quarter. Capital Research Global Investors now owns 18,360,707 shares of the company’s stock worth $1,511,821,000 after buying an additional 46,040 shares during the period. Geode Capital Management LLC boosted its position in shares of Sysco by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company’s stock worth $934,391,000 after buying an additional 131,659 shares during the period. Finally, Norges Bank purchased a new stake in shares of Sysco in the fourth quarter worth about $542,780,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Transactions at Sysco

In other news, Director John M. Hinshaw acquired 13,304 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were purchased at an average price of $75.17 per share, for a total transaction of $1,000,061.68. Following the completion of the purchase, the director directly owned 40,200 shares of the company’s stock, valued at $3,021,834. This represents a 49.46% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Sanford C. Bernstein decreased their target price on Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a research report on Wednesday, April 29th. Citigroup boosted their price target on Sysco from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Piper Sandler cut their price target on Sysco from $83.00 to $77.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Finally, Barclays cut their price target on Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Nine equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and an average target price of $88.15.

Sysco Trading Up 0.2%

NYSE:SYY opened at $75.98 on Monday. The company has a debt-to-equity ratio of 5.58, a quick ratio of 0.80 and a current ratio of 1.33. Sysco Corporation has a one year low of $68.19 and a one year high of $91.85. The business’s 50-day simple moving average is $75.17 and its 200 day simple moving average is $78.13. The stock has a market cap of $36.33 billion, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 3.10 and a beta of 0.65.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.01). Sysco had a return on equity of 103.57% and a net margin of 2.08%.The business had revenue of $20.52 billion during the quarter, compared to analyst estimates of $20.56 billion. During the same quarter last year, the firm posted $0.96 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. As a group, sell-side analysts predict that Sysco Corporation will post 4.59 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Thursday, July 2nd will be paid a dividend of $0.55 per share. The ex-dividend date is Thursday, July 2nd. This is an increase from Sysco’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a yield of 2.9%. Sysco’s payout ratio is currently 59.83%.

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.