Sysco Corporation $SYY Shares Bought by Private Trust Co. NA

Private Trust Co. NA boosted its stake in shares of Sysco Corporation (NYSE:SYY) by 3.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 6,316 shares of the company’s stock after purchasing an additional 209 shares during the quarter. Private Trust Co. NA’s holdings in Sysco were worth $478,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SYY. Boston Partners grew its position in Sysco by 24.8% during the first quarter. Boston Partners now owns 15,199,828 shares of the company’s stock worth $1,139,798,000 after buying an additional 3,015,714 shares during the period. Nuveen LLC acquired a new position in Sysco during the first quarter worth about $85,341,000. Amundi lifted its holdings in shares of Sysco by 36.5% in the first quarter. Amundi now owns 3,725,508 shares of the company’s stock valued at $280,941,000 after purchasing an additional 995,498 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Sysco by 1,940.1% in the first quarter. Mackenzie Financial Corp now owns 1,016,660 shares of the company’s stock valued at $76,290,000 after purchasing an additional 966,826 shares in the last quarter. Finally, Burgundy Asset Management Ltd. lifted its holdings in shares of Sysco by 38.8% in the first quarter. Burgundy Asset Management Ltd. now owns 2,015,994 shares of the company’s stock valued at $151,280,000 after purchasing an additional 563,921 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SYY. Bank of America upped their price target on shares of Sysco from $81.00 to $93.00 and gave the company a “buy” rating in a report on Friday, July 18th. Citigroup upped their price target on shares of Sysco from $84.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday. Truist Financial upped their price target on shares of Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. Wells Fargo & Company set a $88.00 price target on shares of Sysco and gave the company an “overweight” rating in a report on Tuesday, July 29th. Finally, Weiss Ratings downgraded shares of Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $86.46.

Insiders Place Their Bets

In other Sysco 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 transaction 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 $4,504,320. This trade represents a 41.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ronald L. Phillips sold 961 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $81.00, for a total transaction of $77,841.00. Following the transaction, the executive vice president directly owned 41,501 shares of the company’s stock, valued at approximately $3,361,581. This represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,338 shares of company stock valued at $7,439,331. Company insiders own 0.56% of the company’s stock.

Sysco Stock Performance

NYSE:SYY opened at $79.92 on Monday. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. The company has a market cap of $38.24 billion, a P/E ratio of 21.42, a P/E/G ratio of 2.47 and a beta of 0.82. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $83.47. The firm’s 50 day moving average is $80.73 and its two-hundred day moving average is $76.56.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) 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 analyst estimates of $21.01 billion. During the same quarter in the prior year, the business earned $1.39 earnings per share. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Analysts expect that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 3rd. Sysco’s dividend payout ratio (DPR) is presently 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.