Sysco Corporation $SYY Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. trimmed its holdings in shares of Sysco Corporation (NYSE:SYY) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 467,346 shares of the company’s stock after selling 9,578 shares during the period. Sysco makes up about 1.2% of Meyer Handelman Co.’s portfolio, making the stock its 26th biggest position. Meyer Handelman Co. owned about 0.10% of Sysco worth $38,481,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SYY. Harbor Capital Advisors Inc. lifted its position in Sysco by 75.0% during the third quarter. Harbor Capital Advisors Inc. now owns 315 shares of the company’s stock valued at $26,000 after purchasing an additional 135 shares during the period. Chung Wu Investment Group LLC acquired a new stake in Sysco during the 2nd quarter worth about $30,000. Darwin Wealth Management LLC purchased a new position in shares of Sysco during the 2nd quarter valued at about $31,000. Vermillion & White Wealth Management Group LLC lifted its holdings in shares of Sysco by 94.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 419 shares of the company’s stock valued at $32,000 after buying an additional 204 shares during the period. Finally, 1248 Management LLC purchased a new stake in shares of Sysco in the first quarter worth about $35,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

SYY has been the subject of a number of analyst reports. Sanford C. Bernstein began coverage on Sysco in a report on Wednesday, October 22nd. They issued a “market perform” rating and a $83.00 price target for the company. Piper Sandler decreased their target price on shares of Sysco from $81.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday, December 12th. Guggenheim raised their price target on shares of Sysco from $87.00 to $89.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Morgan Stanley set a $88.00 price objective on shares of Sysco in a report on Tuesday, October 21st. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Sysco in a research note on Monday. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.92.

Sysco Stock Performance

NYSE:SYY opened at $74.21 on Friday. The company has a debt-to-equity ratio of 5.54, a quick ratio of 0.65 and a current ratio of 1.15. The stock has a market capitalization of $35.53 billion, a PE ratio of 19.89, a P/E/G ratio of 2.44 and a beta of 0.61. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $83.47. The company has a fifty day moving average of $75.11 and a two-hundred day moving average of $77.75.

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

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 2nd will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, January 2nd. Sysco’s dividend payout ratio is currently 57.91%.

Sysco Profile

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.