D.A. Davidson & CO. Decreases Stock Holdings in Sysco Corporation $SYY

D.A. Davidson & CO. reduced its holdings in Sysco Corporation (NYSE:SYY) by 6.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 191,208 shares of the company’s stock after selling 12,621 shares during the period. D.A. Davidson & CO.’s holdings in Sysco were worth $15,744,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Salvus Wealth Management LLC purchased a new position in Sysco during the 2nd quarter valued at about $329,000. Norges Bank bought a new position in shares of Sysco during the second quarter valued at approximately $493,686,000. Brighton Jones LLC increased its holdings in Sysco by 4.3% during the second quarter. Brighton Jones LLC now owns 90,338 shares of the company’s stock valued at $6,842,000 after buying an additional 3,760 shares during the period. Gradient Investments LLC raised its stake in Sysco by 9.2% in the second quarter. Gradient Investments LLC now owns 189,169 shares of the company’s stock worth $14,328,000 after buying an additional 15,906 shares in the last quarter. Finally, Accurate Wealth Management LLC purchased a new stake in Sysco during the third quarter worth $2,497,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Price Performance

Shares of SYY stock opened at $72.78 on Tuesday. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $83.47. 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 firm has a market capitalization of $34.85 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 2.39 and a beta of 0.61. The stock’s 50-day simple moving average is $74.52 and its 200-day simple moving average is $77.75.

Sysco (NYSE:SYY) last released its 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. Sysco had a net margin of 2.21% and a return on equity of 112.04%. The company had revenue of $21.15 billion during the quarter, compared to analysts’ expectations of $21.03 billion. During the same period last year, the business earned $1.09 EPS. Sysco’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, equities analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 2nd will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, January 2nd. Sysco’s dividend payout ratio is presently 57.91%.

Analysts Set New Price Targets

SYY has been the topic of a number of analyst reports. Sanford C. Bernstein initiated coverage on Sysco in a report on Wednesday, October 22nd. They issued a “market perform” rating and a $83.00 price target on the stock. Guggenheim lifted their target price on Sysco from $87.00 to $89.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Wall Street Zen lowered shares of Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Barclays raised their price target on shares of Sysco from $82.00 to $86.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Finally, Citigroup reduced their price objective on shares of Sysco from $86.00 to $82.00 and set a “neutral” rating for the company in a research note on Monday, November 3rd. Eight investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $85.92.

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.