Janney Montgomery Scott LLC Sells 28,357 Shares of Sysco Corporation $SYY

Janney Montgomery Scott LLC lowered its position in Sysco Corporation (NYSE:SYY) by 11.2% during the 2nd quarter, Holdings Channel reports. The fund owned 224,328 shares of the company’s stock after selling 28,357 shares during the period. Janney Montgomery Scott LLC’s holdings in Sysco were worth $16,991,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its holdings in shares of Sysco by 48.4% in the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock valued at $32,000 after purchasing an additional 140 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in shares of Sysco during the first quarter valued at approximately $33,000. Cheviot Value Management LLC purchased a new stake in shares of Sysco during the first quarter valued at approximately $34,000. 1248 Management LLC purchased a new stake in shares of Sysco during the first quarter valued at approximately $35,000. Finally, Banque Transatlantique SA purchased a new stake in shares of Sysco during the first quarter valued at approximately $35,000. Institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. UBS Group set a $90.00 price target on Sysco in a research report on Wednesday, July 30th. Truist Financial raised their target price on Sysco from $81.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Wall Street Zen downgraded Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, September 13th. Wells Fargo & Company set a $88.00 price target on Sysco and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Finally, Guggenheim raised their price target on Sysco from $85.00 to $87.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Sysco has a consensus rating of “Moderate Buy” and an average target price of $85.69.

Sysco Price Performance

NYSE:SYY opened at $83.38 on Friday. The firm has a market capitalization of $40.42 billion, a price-to-earnings ratio of 22.35, a P/E/G ratio of 2.57 and a beta of 0.82. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $83.47. The stock has a fifty day moving average of $80.82 and a 200 day moving average of $76.04. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.09. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The company had revenue of $21.14 billion during the quarter, compared to analyst estimates of $21.01 billion. During the same quarter last year, the company earned $1.39 earnings per share. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, research analysts expect that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.16 annualized dividend and a yield of 2.6%. Sysco’s payout ratio is 57.91%.

Insider Activity

In other Sysco news, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the completion of the sale, the executive vice president owned 56,304 shares of the company’s stock, valued at $4,504,320. The trade was a 41.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ronald L. Phillips sold 961 shares of Sysco stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $81.00, for a total value of $77,841.00. Following the sale, the executive vice president directly owned 41,501 shares of the company’s stock, valued at approximately $3,361,581. This trade represents a 2.26% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 92,338 shares of company stock valued at $7,439,331. Corporate insiders own 0.54% of the company’s stock.

Sysco Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.