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

Formidable Asset Management LLC reduced its position in Sysco Corporation (NYSE:SYY) by 62.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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.

A number of other large investors also recently modified their holdings of SYY. Lloyd Advisory Services LLC. bought a new stake in Sysco in the 4th quarter worth approximately $25,000. Motiv8 Investments LLC purchased a new stake in Sysco in the fourth quarter worth approximately $25,000. Torren Management LLC bought a new position in Sysco during the fourth quarter valued at approximately $27,000. Bard Associates Inc. bought a new position in Sysco during the fourth quarter valued at approximately $27,000. Finally, Elyxium Wealth LLC purchased a new position in shares of Sysco during the fourth quarter worth approximately $28,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Price Performance

Shares of Sysco stock opened at $83.40 on Tuesday. The company’s fifty day simple moving average is $76.20 and its two-hundred day simple moving average is $78.63. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85. The firm has a market cap 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. 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 issued its quarterly earnings data on Tuesday, April 28th. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.01). The firm had revenue of $20.52 billion for the quarter, compared to the consensus estimate of $20.56 billion. Sysco had a net margin of 2.08% and a return on equity of 103.57%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the company posted $0.96 earnings per share. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. As a group, equities analysts expect that Sysco Corporation will post 4.59 EPS for the current year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Thursday, July 2nd will be issued a dividend of $0.55 per share. The ex-dividend date is Thursday, July 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 2.6%. This is a boost from Sysco’s previous quarterly dividend of $0.54. Sysco’s dividend payout ratio (DPR) is presently 59.83%.

Insider Buying and Selling

In other Sysco news, Director John M. Hinshaw purchased 13,304 shares of the 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 transaction, the director directly owned 40,200 shares of the company’s stock, valued at approximately $3,021,834. This trade represents a 49.46% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.56% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SYY. Guggenheim lowered their price objective on shares of Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Citigroup increased their target price on shares of Sysco from $78.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft cut shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 target price on the stock. in a research report on Tuesday, April 28th. Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Barclays cut their price target on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Nine research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.