Sysco Corporation $SYY Shares Sold by TD Asset Management Inc

TD Asset Management Inc lowered its stake in Sysco Corporation (NYSE:SYY) by 15.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 187,175 shares of the company’s stock after selling 33,226 shares during the quarter. TD Asset Management Inc’s holdings in Sysco were worth $13,793,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of SYY. Norges Bank acquired a new stake in shares of Sysco in the fourth quarter valued at about $542,780,000. Wellington Management Group LLP grew its stake in shares of Sysco by 3,977.1% in the third quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company’s stock valued at $387,935,000 after buying an additional 4,595,819 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Sysco by 45.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,651,682 shares of the company’s stock valued at $416,472,000 after buying an additional 1,754,306 shares in the last quarter. Mondrian Investment Partners LTD acquired a new stake in shares of Sysco in the third quarter valued at about $142,237,000. Finally, Marshall Wace LLP grew its stake in shares of Sysco by 102.6% in the third quarter. Marshall Wace LLP now owns 2,359,471 shares of the company’s stock valued at $194,279,000 after buying an additional 1,194,815 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Piper Sandler lowered their target price on Sysco from $83.00 to $77.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Sanford C. Bernstein lowered their price objective on Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a research note on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft lowered Sysco from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a research note on Tuesday, April 28th. Guggenheim lowered their price objective on Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. Finally, Wells Fargo & Company raised their price objective on Sysco from $92.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, February 19th. Nine investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.15.

Insider Activity

In related news, Director John M. Hinshaw purchased 13,304 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the acquisition, the director owned 40,200 shares in the company, valued at approximately $3,021,834. This trade represents a 49.46% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.56% of the company’s stock.

Sysco Trading Up 0.2%

NYSE:SYY opened at $76.48 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 5.58. The business’s 50 day moving average is $74.33 and its two-hundred day moving average is $78.12. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85. The company has a market cap of $36.57 billion, a PE ratio of 21.18, a P/E/G ratio of 3.12 and a beta of 0.65.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, April 28th. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Sysco had a return on equity of 103.57% and a net margin of 2.08%.The firm had revenue of $20.52 billion for the quarter, compared to the consensus estimate of $20.56 billion. During the same period in the prior year, the business earned $0.96 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. On average, analysts predict that Sysco Corporation will post 4.59 EPS for the current year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Thursday, July 2nd will be issued a $0.55 dividend. This is a positive change from Sysco’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.20 annualized dividend and a dividend yield of 2.9%. Sysco’s dividend payout ratio (DPR) is 59.83%.

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.