Meyer Handelman Co. Has $36.12 Million Stake in Sysco Corporation $SYY

Meyer Handelman Co. trimmed its position in shares of Sysco Corporation (NYSE:SYY) by 3.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 476,924 shares of the company’s stock after selling 19,350 shares during the period. Sysco accounts for approximately 1.2% of Meyer Handelman Co.’s investment portfolio, making the stock its 26th biggest position. Meyer Handelman Co. owned approximately 0.10% of Sysco worth $36,122,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Rialto Wealth Management LLC increased its holdings in Sysco by 188.7% during the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company’s stock worth $25,000 after buying an additional 217 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in Sysco by 48.4% during the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock worth $32,000 after buying an additional 140 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in Sysco during the first quarter worth $33,000. 1248 Management LLC acquired a new position in Sysco during the first quarter worth $35,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Sysco in the fourth quarter valued at $35,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Greg D. Bertrand sold 40,000 shares of the company’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the completion of the sale, the executive vice president owned 56,304 shares of the company’s stock, valued at $4,504,320. This represents a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Ronald L. Phillips sold 961 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $81.00, for a total transaction of $77,841.00. Following the sale, the executive vice president directly owned 41,501 shares of the company’s stock, valued at $3,361,581. This represents a 2.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,338 shares of company stock valued at $7,439,331 in the last ninety days. 0.54% of the stock is currently owned by company insiders.

Sysco Trading Down 0.9%

Shares of Sysco stock opened at $81.08 on Friday. The firm has a 50-day moving average of $80.53 and a 200-day moving average of $75.74. The stock has a market cap of $39.30 billion, a PE ratio of 21.74, a PEG ratio of 2.53 and a beta of 0.80. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $83.24. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.09. The company had revenue of $21.14 billion during the quarter, compared to analysts’ expectations of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. Sysco’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.39 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, sell-side analysts forecast that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.16 annualized dividend and a yield of 2.7%. Sysco’s dividend payout ratio is currently 57.91%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. UBS Group set a $90.00 price objective on shares of Sysco in a report on Wednesday, July 30th. Morgan Stanley upped their price objective on shares of Sysco from $72.00 to $77.00 and gave the company an “equal weight” rating in a report on Monday, July 14th. Wells Fargo & Company set a $88.00 price objective on shares of Sysco and gave the company an “overweight” rating in a report on Tuesday, July 29th. Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a report on Saturday, September 13th. Finally, Guggenheim upped their price objective on shares of Sysco from $85.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and a consensus target price of $85.69.

Sysco Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.