Rockefeller Capital Management L.P. Sells 9,580 Shares of Sysco Corporation $SYY

Rockefeller Capital Management L.P. lowered its holdings in Sysco Corporation (NYSE:SYY) by 14.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,105 shares of the company’s stock after selling 9,580 shares during the period. Rockefeller Capital Management L.P.’s holdings in Sysco were worth $4,134,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of SYY. Montag A & Associates Inc. increased its position in shares of Sysco by 1.4% in the fourth quarter. Montag A & Associates Inc. now owns 8,743 shares of the company’s stock worth $644,000 after purchasing an additional 123 shares during the last quarter. United Community Bank grew its stake in Sysco by 11.4% in the 4th quarter. United Community Bank now owns 1,224 shares of the company’s stock worth $90,000 after buying an additional 125 shares in the last quarter. First Citizens Bank & Trust Co. grew its stake in Sysco by 1.2% in the 4th quarter. First Citizens Bank & Trust Co. now owns 11,224 shares of the company’s stock worth $827,000 after buying an additional 138 shares in the last quarter. Octavia Wealth Advisors LLC increased its holdings in shares of Sysco by 4.6% in the 4th quarter. Octavia Wealth Advisors LLC now owns 3,231 shares of the company’s stock worth $237,000 after buying an additional 141 shares during the last quarter. Finally, Diversify Wealth Management LLC raised its position in shares of Sysco by 1.6% during the 4th quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company’s stock valued at $698,000 after buying an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling

In other news, Director John M. Hinshaw bought 13,304 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the transaction, the director owned 40,200 shares of the company’s stock, valued at approximately $3,021,834. The trade was a 49.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is owned by company insiders.

Analysts Set New Price Targets

SYY has been the subject of several research reports. Citigroup upped their target price on shares of Sysco from $78.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Guggenheim dropped their price target on Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. Sanford C. Bernstein cut their target price on Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a research note on Wednesday, April 29th. Weiss Ratings lowered shares of Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 30th. Finally, Piper Sandler cut their price objective on shares of Sysco from $83.00 to $77.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Nine equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.15.

Sysco Price Performance

Shares of Sysco stock opened at $82.83 on Friday. The firm has a market cap of $39.61 billion, a PE ratio of 22.95, a price-to-earnings-growth ratio of 3.38 and a beta of 0.65. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 5.58. The company’s fifty day simple moving average is $76.01 and its two-hundred day simple moving average is $78.52.

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 business also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Thursday, July 2nd will be paid a $0.55 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This is an increase from Sysco’s previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a yield of 2.7%. Sysco’s payout ratio is currently 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.