Agate Pass Investment Management LLC Has $1.17 Million Stock Holdings in Sysco Corporation $SYY

Agate Pass Investment Management LLC trimmed its position in Sysco Corporation (NYSE:SYY) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,493 shares of the company’s stock after selling 214 shares during the period. Agate Pass Investment Management LLC’s holdings in Sysco were worth $1,173,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. JB Capital LLC raised its position in shares of Sysco by 12.3% in the 2nd quarter. JB Capital LLC now owns 3,028 shares of the company’s stock valued at $229,000 after acquiring an additional 332 shares during the period. Commerzbank Aktiengesellschaft FI raised its holdings in Sysco by 49.6% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 7,975 shares of the company’s stock worth $605,000 after buying an additional 2,643 shares during the period. IFP Advisors Inc raised its holdings in Sysco by 0.7% during the 2nd quarter. IFP Advisors Inc now owns 33,948 shares of the company’s stock worth $2,680,000 after buying an additional 237 shares during the period. Callan Family Office LLC raised its holdings in Sysco by 195.5% during the 2nd quarter. Callan Family Office LLC now owns 67,132 shares of the company’s stock worth $5,085,000 after buying an additional 44,416 shares during the period. Finally, Blair William & Co. IL raised its holdings in Sysco by 4.4% during the 2nd quarter. Blair William & Co. IL now owns 196,995 shares of the company’s stock worth $14,920,000 after buying an additional 8,372 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Sysco

In related news, EVP Greg D. Bertrand sold 40,000 shares of the firm’s stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total value of $3,200,000.00. Following the completion of the transaction, the executive vice president directly owned 56,304 shares of the company’s stock, valued at approximately $4,504,320. This trade represents a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ronald L. Phillips sold 37,606 shares of the firm’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the completion of the transaction, the executive vice president directly owned 30,235 shares of the company’s stock, valued at $2,449,035. This represents a 55.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,338 shares of company stock valued at $7,439,331 over the last three months. 0.54% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on SYY shares. Weiss Ratings downgraded shares of Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Barclays raised their target price on shares of Sysco from $77.00 to $82.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Bank of America raised their target price on shares of Sysco from $81.00 to $93.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Wells Fargo & Company set a $88.00 price target on shares of Sysco and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Finally, Wall Street Zen raised shares of Sysco from a “hold” rating to a “buy” rating in a research note on Saturday. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.85.

Sysco Price Performance

Shares of SYY opened at $78.44 on Friday. The stock has a market capitalization of $37.53 billion, a P/E ratio of 21.03, a P/E/G ratio of 2.42 and a beta of 0.82. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $83.47. The company has a 50 day moving average of $80.81 and a 200-day moving average of $76.37. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.09. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The company had revenue of $21.14 billion during the quarter, compared to analysts’ expectations of $21.01 billion. During the same period last year, the business earned $1.39 EPS. The business’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. As a group, equities research analysts forecast that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be paid a $0.54 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.16 annualized dividend and a dividend yield of 2.8%. Sysco’s dividend payout ratio (DPR) is currently 57.91%.

About Sysco

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.