Obermeyer Wealth Partners Sells 20,376 Shares of Sysco Corporation $SYY

Obermeyer Wealth Partners trimmed its position in Sysco Corporation (NYSE:SYY) by 78.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,598 shares of the company’s stock after selling 20,376 shares during the period. Obermeyer Wealth Partners’ holdings in Sysco were worth $424,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SYY. Boston Partners increased its position in Sysco by 24.8% in the 1st quarter. Boston Partners now owns 15,199,828 shares of the company’s stock valued at $1,139,798,000 after buying an additional 3,015,714 shares in the last quarter. Nuveen LLC bought a new stake in Sysco during the 1st quarter worth approximately $85,341,000. Amundi increased its holdings in Sysco by 36.5% during the 1st quarter. Amundi now owns 3,725,508 shares of the company’s stock worth $280,941,000 after purchasing an additional 995,498 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Sysco by 1,940.1% during the 1st quarter. Mackenzie Financial Corp now owns 1,016,660 shares of the company’s stock worth $76,290,000 after purchasing an additional 966,826 shares in the last quarter. Finally, Burgundy Asset Management Ltd. increased its holdings in Sysco by 38.8% during the 1st quarter. Burgundy Asset Management Ltd. now owns 2,015,994 shares of the company’s stock worth $151,280,000 after purchasing an additional 563,921 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Sysco news, EVP Ronald L. Phillips sold 7,351 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $81.00, for a total transaction of $595,431.00. Following the completion of the transaction, the executive vice president directly owned 41,837 shares of the company’s stock, valued at approximately $3,388,797. This represents a 14.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 14,732 shares of company stock worth $1,193,245 over the last three months. 0.56% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on SYY. Truist Financial boosted their price objective on Sysco from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. Citigroup decreased their price objective on Sysco from $86.00 to $82.00 and set a “neutral” rating for the company in a report on Monday. Weiss Ratings raised Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 24th. Wells Fargo & Company set a $88.00 price objective on Sysco and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Finally, Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $87.00.

Sysco Stock Performance

SYY stock opened at $72.84 on Tuesday. The firm has a market cap of $34.88 billion, a PE ratio of 19.53, a P/E/G ratio of 2.19 and a beta of 0.82. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 5.54. The business has a 50 day moving average of $79.95 and a 200-day moving average of $77.09. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $83.47.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, October 28th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.03. The company had revenue of $21.15 billion during the quarter, compared to analyst estimates of $21.03 billion. Sysco had a return on equity of 112.04% and a net margin of 2.21%.Sysco’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.09 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, sell-side analysts expect that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 24th. Shareholders of record on Friday, October 3rd were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, October 3rd. Sysco’s dividend payout ratio is 57.91%.

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.