Glenview Trust Co trimmed its position in shares of Sysco Corporation (NYSE:SYY – Free Report) by 16.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,229 shares of the company’s stock after selling 8,756 shares during the period. Glenview Trust Co’s holdings in Sysco were worth $3,448,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Soltis Investment Advisors LLC grew its stake in shares of Sysco by 12.3% in the third quarter. Soltis Investment Advisors LLC now owns 4,343 shares of the company’s stock valued at $339,000 after buying an additional 475 shares in the last quarter. United Asset Strategies Inc. raised its holdings in shares of Sysco by 2.1% in the 3rd quarter. United Asset Strategies Inc. now owns 22,675 shares of the company’s stock valued at $1,768,000 after buying an additional 460 shares during the period. Choreo LLC raised its holdings in shares of Sysco by 3.5% in the 3rd quarter. Choreo LLC now owns 18,192 shares of the company’s stock valued at $1,418,000 after buying an additional 612 shares during the period. Interchange Capital Partners LLC acquired a new position in Sysco during the 3rd quarter worth about $212,000. Finally, Motley Fool Asset Management LLC lifted its stake in Sysco by 7.1% during the 3rd quarter. Motley Fool Asset Management LLC now owns 43,880 shares of the company’s stock worth $3,421,000 after acquiring an additional 2,901 shares in the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Sysco
In other news, EVP Ronald Phillips sold 960 shares of Sysco stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $83.00, for a total value of $79,680.00. Following the completion of the transaction, the executive vice president owned 49,852 shares in the company, valued at approximately $4,137,716. This trade represents a 1.89% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 15,525 shares of company stock valued at $1,299,736. 0.55% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on SYY. Piper Sandler raised their target price on Sysco from $77.00 to $84.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Citigroup reiterated a “neutral” rating on shares of Sysco in a research note on Monday, October 26th. Wall Street Zen cut shares of Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, October 24th. UBS Group raised their price objective on shares of Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Sysco from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 15th. Nine research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Sysco has a consensus rating of “Moderate Buy” and an average price target of $90.42.
Read Our Latest Analysis on SYY
Sysco Stock Up 0.4%
Sysco stock opened at $82.85 on Friday. The firm has a market capitalization of $40.76 billion, a P/E ratio of 22.64, a P/E/G ratio of 2.33 and a beta of 0.64. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62. Sysco Corporation has a twelve month low of $68.19 and a twelve month high of $91.85. The stock’s fifty day simple moving average is $80.54 and its 200-day simple moving average is $80.51.
Sysco (NYSE:SYY – Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The firm had revenue of $22.12 billion during the quarter, compared to analyst estimates of $21.95 billion. Sysco had a return on equity of 95.05% and a net margin of 2.08%. Sysco’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business posted $1.48 earnings per share. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. As a group, equities analysts expect that Sysco Corporation will post 5.09 earnings per share for the current fiscal year.
Sysco Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd were given a $0.55 dividend. The ex-dividend date of this dividend was Friday, October 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 2.7%. Sysco’s dividend payout ratio (DPR) is currently 60.11%.
Sysco Profile
Sysco Corporation is a global foodservice distribution company headquartered in Houston, Texas. It supplies food and related products to restaurants, healthcare and educational institutions, hotels, government facilities, and other foodservice operators.
The company distributes a broad range of products, including fresh and frozen foods, meat and seafood, produce, dairy products, canned and packaged goods, beverages, and specialty food items. Sysco also provides nonfood products such as kitchen and dining supplies, equipment, and cleaning products, along with services intended to help customers manage menus, procurement, and operations.
Founded in 1969, Sysco serves customers primarily across the United States and Canada, as well as in parts of Europe and other international markets.
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