DekaBank Deutsche Girozentrale Trims Stock Position in Sysco Corporation $SYY

DekaBank Deutsche Girozentrale cut its position in shares of Sysco Corporation (NYSE:SYY) by 29.4% in the second quarter, HoldingsChannel reports. The firm owned 853,417 shares of the company’s stock after selling 355,822 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Sysco were worth $64,207,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SYY. Ellis Investment Partners LLC grew its holdings in Sysco by 4.9% during the 2nd quarter. Ellis Investment Partners LLC now owns 2,820 shares of the company’s stock worth $214,000 after acquiring an additional 133 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Sysco by 48.4% in the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock valued at $32,000 after purchasing an additional 140 shares in the last quarter. Stephens Inc. AR lifted its position in shares of Sysco by 0.6% in the 2nd quarter. Stephens Inc. AR now owns 25,040 shares of the company’s stock worth $1,897,000 after purchasing an additional 140 shares during the period. Trust Co of the South boosted its stake in shares of Sysco by 3.0% during the second quarter. Trust Co of the South now owns 4,849 shares of the company’s stock valued at $367,000 after purchasing an additional 142 shares in the last quarter. Finally, NorthRock Partners LLC increased its holdings in Sysco by 2.2% during the second quarter. NorthRock Partners LLC now owns 6,514 shares of the company’s stock valued at $493,000 after buying an additional 142 shares during the period. Institutional investors own 83.41% of the company’s stock.

Insider Activity

In other news, EVP Ronald L. Phillips sold 7,351 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $81.00, for a total value of $595,431.00. Following the sale, the executive vice president owned 41,837 shares in the company, valued at $3,388,797. This represents a 14.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 14,732 shares of company stock valued at $1,193,245. 0.56% of the stock is owned by corporate insiders.

Sysco Price Performance

Shares of NYSE SYY opened at $79.14 on Wednesday. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $83.47. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. The company has a market cap of $37.87 billion, a PE ratio of 21.22, a P/E/G ratio of 2.47 and a beta of 0.82. The business has a 50-day simple moving average of $80.70 and a two-hundred day simple moving average of $76.64.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates 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. Sysco’s revenue for the quarter 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 analysts expect that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have weighed in on SYY. UBS Group set a $90.00 target price on Sysco in a report on Wednesday, July 30th. Citigroup boosted their price target on Sysco from $84.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Wall Street Zen upgraded Sysco from a “hold” rating to a “buy” rating in a research note on Saturday, October 11th. Weiss Ratings downgraded Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company set a $88.00 target price on shares of Sysco and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $87.31.

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.