Manning & Napier Advisors LLC Has $5.77 Million Stock Position in Sysco Corporation $SYY

Manning & Napier Advisors LLC reduced its holdings in shares of Sysco Corporation (NYSE:SYY) by 46.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,079 shares of the company’s stock after selling 60,740 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Sysco were worth $5,770,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SYY. Norges Bank bought a new position in Sysco in the second quarter valued at $493,686,000. Vanguard Group Inc. increased its position in shares of Sysco by 2.0% in the second quarter. Vanguard Group Inc. now owns 62,691,177 shares of the company’s stock valued at $4,748,230,000 after acquiring an additional 1,226,381 shares during the last quarter. Marshall Wace LLP raised its holdings in Sysco by 207.6% during the second quarter. Marshall Wace LLP now owns 1,164,656 shares of the company’s stock worth $88,211,000 after acquiring an additional 785,995 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Sysco by 143.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,215,260 shares of the company’s stock valued at $92,044,000 after purchasing an additional 715,663 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in Sysco by 163.1% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 710,900 shares of the company’s stock valued at $58,536,000 after purchasing an additional 440,700 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

SYY has been the topic of a number of analyst reports. Piper Sandler dropped their price objective on Sysco from $81.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday, December 12th. Morgan Stanley set a $88.00 target price on shares of Sysco in a report on Tuesday, October 21st. Sanford C. Bernstein assumed coverage on shares of Sysco in a research note on Wednesday, October 22nd. They issued a “market perform” rating and a $83.00 price target for the company. Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Finally, Citigroup dropped their target price on shares of Sysco from $82.00 to $81.00 and set a “neutral” rating on the stock in a report on Wednesday, January 7th. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Sysco presently has an average rating of “Moderate Buy” and a consensus target price of $86.00.

Sysco Price Performance

NYSE:SYY opened at $77.03 on Thursday. The company has a market cap of $36.89 billion, a P/E ratio of 20.65, a P/E/G ratio of 2.50 and a beta of 0.61. The firm’s fifty day moving average price is $74.57 and its two-hundred day moving average price is $77.69. Sysco Corporation has a one year low of $67.12 and a one year high of $83.47. The company has a debt-to-equity ratio of 5.54, a current ratio of 1.15 and a quick ratio of 0.65.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, October 28th. The company reported $1.15 EPS for the quarter, topping the consensus estimate of $1.12 by $0.03. Sysco had a net margin of 2.21% and a return on equity of 112.04%. The business had revenue of $21.15 billion during the quarter, compared to the consensus estimate of $21.03 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. Sysco’s revenue was up 3.2% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Equities analysts expect that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Friday, January 2nd will be given a $0.54 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.16 annualized dividend and a dividend yield of 2.8%. Sysco’s dividend payout ratio is presently 57.91%.

Sysco Company 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.