Kovitz Investment Group Partners LLC Reduces Position in Sysco Corporation $SYY

Kovitz Investment Group Partners LLC trimmed its position in Sysco Corporation (NYSE:SYY) by 32.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,194 shares of the company’s stock after selling 30,065 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Sysco were worth $4,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SYY. Van Diest Capital LLC acquired a new position in shares of Sysco in the fourth quarter valued at about $293,000. Evansbrook LLC purchased a new position in shares of Sysco in the fourth quarter worth about $557,000. Corient Private Wealth LLC lifted its holdings in shares of Sysco by 1.7% during the fourth quarter. Corient Private Wealth LLC now owns 193,688 shares of the company’s stock worth $13,847,000 after purchasing an additional 3,170 shares during the period. Alberta Investment Management Corp acquired a new stake in shares of Sysco during the fourth quarter worth about $5,151,000. Finally, Mercer Global Advisors Inc. ADV boosted its position in Sysco by 93.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 108,393 shares of the company’s stock valued at $7,725,000 after buying an additional 52,319 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. UBS Group cut their price target on shares of Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. Citigroup lifted their price objective on shares of Sysco from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Sanford C. Bernstein dropped their price objective on shares of Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a report on Wednesday, April 29th. Guggenheim cut their price objective on shares of Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Finally, Weiss Ratings cut shares of Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 30th. Nine research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.15.

Insider Activity

In other news, Director John M. Hinshaw purchased 13,304 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were purchased at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the acquisition, the director owned 40,200 shares of the company’s stock, valued at approximately $3,021,834. This represents a 49.46% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.56% of the stock is currently owned by corporate insiders.

Sysco Stock Down 0.1%

Sysco stock opened at $78.64 on Friday. The firm has a market cap of $37.60 billion, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 3.21 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 business’s 50-day moving average price is $75.37 and its 200 day moving average price is $78.30. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 5.58.

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

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Thursday, July 2nd will be issued a dividend of $0.55 per share. This is a positive change from Sysco’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.20 annualized dividend and a dividend yield of 2.8%. Sysco’s payout ratio is presently 59.83%.

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.