Formidable Asset Management LLC Sells 7,499 Shares of Sysco Corporation $SYY

Formidable Asset Management LLC reduced its stake in shares of Sysco Corporation (NYSE:SYY) by 62.5% during the first quarter, Holdings Channel reports. The firm owned 4,500 shares of the company’s stock after selling 7,499 shares during the quarter. Formidable Asset Management LLC’s holdings in Sysco were worth $332,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Patton Fund Management Inc. raised its holdings in Sysco by 8.9% in the 1st quarter. Patton Fund Management Inc. now owns 3,382 shares of the company’s stock worth $241,000 after purchasing an additional 277 shares in the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Sysco during the first quarter valued at about $1,396,000. Janney Montgomery Scott LLC increased its position in shares of Sysco by 6.4% during the first quarter. Janney Montgomery Scott LLC now owns 210,161 shares of the company’s stock valued at $14,991,000 after buying an additional 12,574 shares during the period. Cornerstone Wealth Group LLC raised its stake in Sysco by 5.5% in the first quarter. Cornerstone Wealth Group LLC now owns 3,341 shares of the company’s stock worth $250,000 after buying an additional 173 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its holdings in Sysco by 22.2% in the first quarter. Pictet Asset Management Holding SA now owns 1,402,676 shares of the company’s stock worth $100,049,000 after buying an additional 254,651 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Sysco Stock Up 0.7%

Shares of Sysco stock opened at $83.40 on Tuesday. The company has a debt-to-equity ratio of 5.58, a quick ratio of 0.80 and a current ratio of 1.33. The stock has a market capitalization of $39.88 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 3.38 and a beta of 0.65. Sysco Corporation has a 52-week low of $68.19 and a 52-week high of $91.85. The company has a 50-day simple moving average of $76.20 and a two-hundred day simple moving average of $78.63.

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

Sysco Increases Dividend

The firm also recently announced 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 represents a $2.20 annualized dividend and a yield of 2.6%. This is a positive change from Sysco’s previous quarterly dividend of $0.54. Sysco’s dividend payout ratio (DPR) is 59.83%.

Insider Buying and Selling

In other Sysco news, Director John M. Hinshaw bought 13,304 shares of Sysco stock in a transaction on Tuesday, May 26th. The stock was acquired at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the acquisition, the director owned 40,200 shares in the company, valued at approximately $3,021,834. This trade represents a 49.46% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Sanford C. Bernstein cut their price objective on Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 29th. Citigroup increased their target price on Sysco from $78.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. UBS Group lowered their target price on Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Barclays reduced 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 investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.15.

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.