Appleton Partners Inc. MA Has $2.23 Million Holdings in Sysco Corporation $SYY

Appleton Partners Inc. MA lessened its stake in Sysco Corporation (NYSE:SYY) by 4.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,476 shares of the company’s stock after selling 1,532 shares during the period. Appleton Partners Inc. MA’s holdings in Sysco were worth $2,232,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SYY. Boston Partners raised its position in Sysco by 24.8% in the 1st quarter. Boston Partners now owns 15,199,828 shares of the company’s stock worth $1,139,798,000 after purchasing an additional 3,015,714 shares during the last quarter. Canoe Financial LP raised its position in Sysco by 29,610.4% in the 1st quarter. Canoe Financial LP now owns 1,431,149 shares of the company’s stock worth $107,393,000 after purchasing an additional 1,426,332 shares during the last quarter. Nuveen LLC bought a new position in Sysco in the 1st quarter worth approximately $85,341,000. Amundi raised its position in Sysco by 36.5% in the 1st quarter. Amundi now owns 3,725,508 shares of the company’s stock worth $280,941,000 after purchasing an additional 995,498 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in Sysco by 1,940.1% in the 1st quarter. Mackenzie Financial Corp now owns 1,016,660 shares of the company’s stock worth $76,290,000 after purchasing an additional 966,826 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

SYY has been the subject of several recent research reports. Guggenheim upped their target price on shares of Sysco from $85.00 to $87.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Truist Financial upped their target price on shares of Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. Wells Fargo & Company set a $88.00 target price on shares of Sysco and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Sysco in a research report on Saturday, September 27th. Finally, UBS Group set a $90.00 target price on shares of Sysco in a research report on Wednesday, July 30th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $85.69.

Sysco Price Performance

Shares of SYY stock opened at $82.21 on Monday. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $83.47. The firm has a market capitalization of $39.85 billion, a price-to-earnings ratio of 22.04, a price-to-earnings-growth ratio of 2.54 and a beta of 0.82. 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 firm has a fifty day moving average of $80.86 and a 200-day moving average of $76.15.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating 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 previous year, the business earned $1.39 EPS. The firm’s revenue was up 2.8% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, equities research analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be issued 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 2.6%. Sysco’s payout ratio is 57.91%.

Insiders Place Their Bets

In related news, EVP Ronald L. Phillips sold 37,606 shares of the company’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total value 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 approximately $2,449,035. This represents a 55.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Greg D. Bertrand sold 40,000 shares of the company’s stock in a transaction on Tuesday, July 22nd. The stock was 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 approximately $4,504,320. The trade was a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,338 shares of company stock valued at $7,439,331. Company insiders own 0.54% of the company’s stock.

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.