Glenview Trust Co Invests $4.43 Million in Sysco Corporation $SYY

Glenview Trust Co bought a new stake in shares of Sysco Corporation (NYSE:SYY) during the 2nd quarter, Holdings Channel reports. The fund bought 52,985 shares of the company’s stock, valued at approximately $4,428,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. North Star Asset Management Inc. bought a new stake in Sysco in the second quarter valued at $3,547,000. Empowered Funds LLC bought a new position in Sysco in the 2nd quarter worth $9,370,000. United Capital Financial Advisors LLC purchased a new stake in shares of Sysco in the 2nd quarter worth about $2,633,000. Brooks Moore & Associates Inc. purchased a new stake in shares of Sysco in the 2nd quarter worth about $364,000. Finally, Old North State Trust LLC bought a new stake in shares of Sysco during the 2nd quarter valued at about $248,000. Institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SYY shares. Morgan Stanley boosted their price target on shares of Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. UBS Group lifted their price objective on Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Melius Research downgraded Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings upgraded Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 19th. Nine investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

Insider Transactions at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 7,350 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $83.61, for a total value of $614,533.50. Following the sale, the executive vice president directly owned 38,650 shares of the company’s stock, valued at approximately $3,231,526.50. The trade was a 15.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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. Insiders sold a total of 14,508 shares of company stock worth $1,215,250 in the last three months. 0.56% of the stock is currently owned by insiders.

Sysco Trading Down 1.1%

Shares of NYSE SYY opened at $82.35 on Friday. Sysco Corporation has a 1 year low of $68.19 and a 1 year high of $91.85. The stock has a market cap of $39.46 billion, a P/E ratio of 22.50, a price-to-earnings-growth ratio of 2.84 and a beta of 0.64. The firm has a 50-day moving average of $82.98 and a 200 day moving average of $80.58. The company has a debt-to-equity ratio of 4.62, a current ratio of 1.28 and a quick ratio of 0.77.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The business had revenue of $22.12 billion for the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter in the prior year, the company earned $1.48 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. 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, sell-side analysts expect that Sysco Corporation will post 5.12 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 2nd will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 2nd. Sysco’s dividend payout ratio (DPR) is 60.11%.

Sysco Company Profile

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.