Massachusetts Financial Services Co. MA Decreases Stock Holdings in Sysco Corporation $SYY

Massachusetts Financial Services Co. MA trimmed its position in shares of Sysco Corporation (NYSE:SYY) by 4.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,040,100 shares of the company’s stock after selling 89,649 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Sysco were worth $150,335,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Jackson Grant Investment Advisers Inc. purchased a new stake in shares of Sysco during the third quarter valued at about $25,000. Harbor Capital Advisors Inc. lifted its position in shares of 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 buying an additional 135 shares during the last quarter. Peterson Wealth Services lifted its position in shares of Sysco by 875.7% during the third quarter. Peterson Wealth Services now owns 361 shares of the company’s stock valued at $30,000 after buying an additional 324 shares during the last quarter. Marquette Asset Management LLC lifted its position in shares of Sysco by 367.4% during the fourth quarter. Marquette Asset Management LLC now owns 402 shares of the company’s stock valued at $30,000 after buying an additional 316 shares during the last quarter. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Sysco during the second quarter valued at about $31,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on SYY. Wells Fargo & Company increased their price target on shares of Sysco from $92.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, February 19th. Morgan Stanley decreased their price target on shares of Sysco from $88.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 20th. BMO Capital Markets reissued an “outperform” rating on shares of Sysco in a research report on Wednesday, January 28th. UBS Group decreased their price target on shares of Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Finally, Wall Street Zen upgraded shares of Sysco from a “hold” rating to a “buy” rating in a report on Saturday. Nine equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $87.85.

Insider Activity at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 5,601 shares of Sysco stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $81.00, for a total transaction of $453,681.00. Following the completion of the sale, the executive vice president directly owned 35,965 shares in the company, valued at approximately $2,913,165. The trade was a 13.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Sheila Talton sold 2,801 shares of Sysco stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $82.99, for a total transaction of $232,454.99. Following the sale, the director owned 12,868 shares of the company’s stock, valued at approximately $1,067,915.32. The trade was a 17.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.56% of the company’s stock.

Sysco Stock Performance

SYY opened at $72.86 on Monday. Sysco Corporation has a 52-week low of $68.00 and a 52-week high of $91.85. The company has a quick ratio of 0.75, a current ratio of 1.30 and a debt-to-equity ratio of 5.45. The company has a market cap of $34.89 billion, a P/E ratio of 19.58, a price-to-earnings-growth ratio of 2.63 and a beta of 0.69. The firm’s 50-day moving average price is $83.48 and its 200-day moving average price is $78.98.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 27th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.01. Sysco had a net margin of 2.17% and a return on equity of 109.21%. The firm had revenue of $20.76 billion for the quarter, compared to the consensus estimate of $20.80 billion. During the same quarter in the prior year, the company posted $0.93 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. As a group, equities analysts anticipate that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 24th. Shareholders of record on Thursday, April 2nd will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.0%. The ex-dividend date is Thursday, April 2nd. Sysco’s payout ratio is presently 58.06%.

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.