Stanley Laman Group Ltd. trimmed its stake in shares of Sysco Corporation (NYSE:SYY – Free Report) by 1.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,852 shares of the company’s stock after selling 607 shares during the period. Stanley Laman Group Ltd.’s holdings in Sysco were worth $3,473,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently bought and sold shares of the stock. Boyd Watterson Asset Management LLC OH increased its holdings in shares of Sysco by 106.4% during the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company’s stock valued at $236,000 after purchasing an additional 1,622 shares in the last quarter. Gradient Investments LLC grew its position in Sysco by 9.2% during the second quarter. Gradient Investments LLC now owns 189,169 shares of the company’s stock valued at $14,328,000 after buying an additional 15,906 shares during the period. Beacon Financial Group increased its holdings in Sysco by 55.5% in the second quarter. Beacon Financial Group now owns 9,955 shares of the company’s stock valued at $754,000 after buying an additional 3,554 shares in the last quarter. Shell Asset Management Co. raised its position in shares of Sysco by 31.6% in the second quarter. Shell Asset Management Co. now owns 19,218 shares of the company’s stock worth $1,456,000 after acquiring an additional 4,620 shares during the period. Finally, KLP Kapitalforvaltning AS boosted its stake in shares of Sysco by 5.8% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 448,600 shares of the company’s stock worth $33,977,000 after acquiring an additional 24,500 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on SYY shares. Bank of America lifted their price target on Sysco from $81.00 to $93.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Morgan Stanley boosted their price objective on Sysco from $72.00 to $77.00 and gave the company an “equal weight” rating in a research report on Monday, July 14th. Barclays increased their target price on Sysco from $77.00 to $82.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Wall Street Zen raised shares of Sysco from a “hold” rating to a “buy” rating in a report on Saturday, October 11th. Finally, Guggenheim upped their price objective on shares of Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Sysco has a consensus rating of “Moderate Buy” and a consensus target price of $86.46.
Insider Transactions at Sysco
In related news, EVP Greg D. Bertrand sold 40,000 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president directly owned 56,304 shares in the company, valued at approximately $4,504,320. This trade represents a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ronald L. Phillips sold 961 shares of Sysco stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $81.00, for a total transaction of $77,841.00. Following the transaction, the executive vice president directly owned 41,501 shares in the company, valued at $3,361,581. This trade represents 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 valued at $7,439,331 in the last three months. 0.56% of the stock is currently owned by insiders.
Sysco Trading Up 1.4%
SYY opened at $79.92 on Friday. The firm has a market capitalization of $38.24 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 2.43 and a beta of 0.82. The company’s 50 day simple moving average is $80.73 and its two-hundred day simple moving average is $76.54. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $83.47. 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 – Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $21.01 billion. During the same period in the prior year, the business earned $1.39 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Analysts expect that Sysco Corporation will post 4.58 EPS for the current fiscal year.
Sysco Dividend Announcement
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 given a dividend of $0.54 per share. 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 payout ratio is presently 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.
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