BankPlus Trust Department Has $1.62 Million Stock Holdings in Sysco Corporation $SYY

BankPlus Trust Department lifted its position in Sysco Corporation (NYSE:SYY) by 14.1% during the second quarter, HoldingsChannel.com reports. The fund owned 21,333 shares of the company’s stock after purchasing an additional 2,635 shares during the period. BankPlus Trust Department’s holdings in Sysco were worth $1,616,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Boyd Watterson Asset Management LLC OH raised its position in shares of Sysco by 106.4% in the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company’s stock valued at $236,000 after acquiring an additional 1,622 shares during the period. Gradient Investments LLC raised its holdings in Sysco by 9.2% during the 2nd quarter. Gradient Investments LLC now owns 189,169 shares of the company’s stock worth $14,328,000 after buying an additional 15,906 shares during the period. Beacon Financial Group raised its holdings in Sysco by 55.5% during the 2nd quarter. Beacon Financial Group now owns 9,955 shares of the company’s stock worth $754,000 after buying an additional 3,554 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Sysco by 2.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 223,510 shares of the company’s stock worth $16,772,000 after buying an additional 4,932 shares during the period. Finally, Gallacher Capital Management LLC acquired a new stake in Sysco during the 2nd quarter worth approximately $730,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Sysco

In related news, EVP Ronald L. Phillips sold 37,606 shares of the firm’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 trade represents a 55.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Greg D. Bertrand sold 40,000 shares of the firm’s stock in a transaction on Tuesday, July 22nd. The shares were 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 $4,504,320. This represents a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,338 shares of company stock valued at $7,439,331 over the last three months. 0.54% of the stock is owned by company insiders.

Analyst Ratings Changes

SYY has been the topic of several research analyst reports. Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a report on Saturday, September 13th. Weiss Ratings restated a “buy (b-)” rating on shares of Sysco in a report on Saturday, September 27th. Bank of America raised their target price on shares of Sysco from $81.00 to $93.00 and gave the stock a “buy” rating in a report on Friday, July 18th. 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. Finally, Guggenheim raised their target price on shares of Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a report on Monday. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $85.85.

Sysco Price Performance

Shares of SYY opened at $79.83 on Wednesday. The stock has a market capitalization of $38.20 billion, a P/E ratio of 21.40, a P/E/G ratio of 2.50 and a beta of 0.82. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $83.47. The company has a 50 day moving average of $80.90 and a 200-day moving average of $76.25. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, topping 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 analysts’ expectations of $21.01 billion. During the same period last year, the business earned $1.39 EPS. The business’s quarterly 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, equities research analysts forecast that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be paid 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 2.7%. Sysco’s dividend payout ratio (DPR) is currently 57.91%.

Sysco Company Profile

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.