Wedbush Securities Inc. Reduces Position in Sysco Corporation $SYY

Wedbush Securities Inc. decreased its holdings in Sysco Corporation (NYSE:SYY) by 26.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,984 shares of the company’s stock after selling 2,206 shares during the period. Wedbush Securities Inc.’s holdings in Sysco were worth $453,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Chung Wu Investment Group LLC bought a new position in Sysco in the 2nd quarter worth approximately $30,000. N.E.W. Advisory Services LLC bought a new stake in Sysco during the 1st quarter valued at $33,000. Cheviot Value Management LLC purchased a new stake in shares of Sysco during the first quarter worth $34,000. 1248 Management LLC bought a new position in shares of Sysco in the first quarter worth $35,000. Finally, Banque Transatlantique SA purchased a new position in shares of Sysco in the first quarter valued at $35,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SYY. UBS Group set a $90.00 price objective on Sysco in a research note on Wednesday, July 30th. Truist Financial upped their price target on Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. Morgan Stanley set a $88.00 price target on shares of Sysco in a report on Tuesday, October 21st. Guggenheim boosted their price objective on shares of Sysco from $87.00 to $89.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Finally, Wells Fargo & Company set a $88.00 target price on shares of Sysco and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Nine analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $87.00.

Sysco Trading Up 1.2%

Shares of Sysco stock opened at $75.48 on Wednesday. The company has a debt-to-equity ratio of 5.54, a current ratio of 1.15 and a quick ratio of 0.70. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $83.47. The firm has a market cap of $36.14 billion, a PE ratio of 20.24, a PEG ratio of 2.19 and a beta of 0.79. The company has a 50 day simple moving average of $79.22 and a two-hundred day simple moving average of $77.17.

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

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 24th. Shareholders of record on Friday, October 3rd were given a dividend of $0.54 per share. The ex-dividend date was Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 2.9%. Sysco’s dividend payout ratio (DPR) is presently 57.91%.

Insider Transactions at Sysco

In other news, 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 value of $77,841.00. Following the completion of the transaction, the executive vice president directly owned 41,501 shares in the company, valued at approximately $3,361,581. This represents a 2.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.56% of the stock is currently owned by company insiders.

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.