Harbour Investments Inc. Cuts Holdings in Sysco Corporation $SYY

Harbour Investments Inc. reduced its position in Sysco Corporation (NYSE:SYY) by 6.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,372 shares of the company’s stock after selling 420 shares during the quarter. Harbour Investments Inc.’s holdings in Sysco were worth $483,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in SYY. Boston Partners lifted its holdings in shares of Sysco by 24.8% during the 1st quarter. Boston Partners now owns 15,199,828 shares of the company’s stock valued at $1,139,798,000 after acquiring an additional 3,015,714 shares in the last quarter. Nuveen LLC acquired a new position in shares of Sysco during the 1st quarter valued at $85,341,000. Amundi lifted its holdings in shares of Sysco by 36.5% during the 1st quarter. Amundi now owns 3,725,508 shares of the company’s stock valued at $280,941,000 after acquiring an additional 995,498 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Sysco by 1,940.1% during the 1st quarter. Mackenzie Financial Corp now owns 1,016,660 shares of the company’s stock valued at $76,290,000 after acquiring an additional 966,826 shares in the last quarter. Finally, Burgundy Asset Management Ltd. lifted its holdings in shares of Sysco by 38.8% during the 1st quarter. Burgundy Asset Management Ltd. now owns 2,015,994 shares of the company’s stock valued at $151,280,000 after acquiring an additional 563,921 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of Sysco stock opened at $79.92 on Monday. The firm has a market cap of $38.24 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 2.47 and a beta of 0.82. The firm’s 50-day simple moving average is $80.73 and its 200-day simple moving average is $76.56. 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 Corporation has a 1 year low of $67.12 and a 1 year high of $83.47.

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

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, October 3rd. Sysco’s dividend payout ratio is currently 57.91%.

Insider Transactions at Sysco

In related news, EVP Ronald L. Phillips sold 961 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $81.00, for a total transaction of $77,841.00. Following the completion of the sale, the executive vice president owned 41,501 shares of the company’s stock, valued at $3,361,581. This represents a 2.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the business’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the sale, the executive vice president directly owned 56,304 shares of the company’s stock, valued at approximately $4,504,320. This represents a 41.54% 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. Insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Truist Financial lifted their target price on shares of Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. Wall Street Zen upgraded shares of Sysco from a “hold” rating to a “buy” rating in a report on Saturday, October 11th. UBS Group set a $90.00 price objective on shares of Sysco in a report on Wednesday, July 30th. Barclays boosted their price objective on shares of Sysco from $77.00 to $82.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Finally, Citigroup boosted their price objective on shares of Sysco from $84.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $86.46.

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.