Penobscot Investment Management Company Inc. Has $638,000 Holdings in Sysco Corporation $SYY

Penobscot Investment Management Company Inc. lessened its stake in Sysco Corporation (NYSE:SYY) by 23.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,420 shares of the company’s stock after selling 2,650 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Sysco were worth $638,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Golden State Wealth Management LLC raised its stake in Sysco by 48.4% in the first 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. N.E.W. Advisory Services LLC acquired a new position in Sysco during the first quarter worth about $33,000. 1248 Management LLC acquired a new position in Sysco during the first quarter worth about $35,000. Cheviot Value Management LLC acquired a new position in Sysco during the first quarter worth about $34,000. Finally, Banque Transatlantique SA acquired a new position in Sysco during the first quarter worth about $35,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on SYY shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Sysco in a research note on Saturday, September 27th. Guggenheim boosted their target price on Sysco from $85.00 to $87.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Bank of America boosted their target price on Sysco from $81.00 to $93.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Barclays boosted their target price on Sysco from $77.00 to $82.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Finally, Wells Fargo & Company set a $88.00 price objective on shares of Sysco and gave the company an “overweight” rating in a report on Tuesday, July 29th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $85.69.

Insider Activity at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 40,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president directly owned 56,304 shares in the company, valued at approximately $4,504,320. This represents a 41.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ronald L. Phillips sold 961 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $81.00, for a total value of $77,841.00. Following the transaction, the executive vice president owned 41,501 shares in the company, valued at $3,361,581. The trade was a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,338 shares of company stock worth $7,439,331 over the last quarter. 0.54% of the stock is currently owned by company insiders.

Sysco Stock Performance

Shares of SYY stock opened at $82.21 on Friday. The business’s 50 day simple moving average is $80.86 and its 200 day simple moving average is $76.12. Sysco Corporation has a one year low of $67.12 and a one year high of $83.47. The stock has a market capitalization of $39.85 billion, a PE ratio of 22.04, a PEG ratio of 2.54 and a beta of 0.82. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.39 by $0.09. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The business had revenue of $21.14 billion for the quarter, compared to analysts’ expectations of $21.01 billion. During the same period in the prior year, the business posted $1.39 earnings per share. 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. As a group, research analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be issued a $0.54 dividend. The ex-dividend date is Friday, October 3rd. This represents a $2.16 annualized dividend and a yield of 2.6%. Sysco’s dividend payout ratio 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.