Baxter Bros Inc. Sells 2,610 Shares of Sysco Corporation $SYY

Baxter Bros Inc. lessened its holdings in shares of Sysco Corporation (NYSE:SYY) by 8.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 28,430 shares of the company’s stock after selling 2,610 shares during the period. Baxter Bros Inc.’s holdings in Sysco were worth $2,153,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Boston Partners raised its holdings in shares of Sysco by 24.8% in the 1st quarter. Boston Partners now owns 15,199,828 shares of the company’s stock worth $1,139,798,000 after buying an additional 3,015,714 shares in the last quarter. Canoe Financial LP increased its holdings in Sysco by 29,610.4% during the 1st quarter. Canoe Financial LP now owns 1,431,149 shares of the company’s stock valued at $107,393,000 after purchasing an additional 1,426,332 shares in the last quarter. Nuveen LLC bought a new position in Sysco in the 1st quarter valued at $85,341,000. Amundi boosted its position in Sysco by 36.5% in the 1st quarter. Amundi now owns 3,725,508 shares of the company’s stock valued at $280,941,000 after buying an additional 995,498 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in Sysco by 1,940.1% in the 1st quarter. Mackenzie Financial Corp now owns 1,016,660 shares of the company’s stock valued at $76,290,000 after buying an additional 966,826 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Trading Down 1.5%

Shares of SYY stock opened at $78.76 on Thursday. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75. The stock has a market cap of $37.69 billion, a P/E ratio of 21.12, a price-to-earnings-growth ratio of 2.48 and a beta of 0.82. The stock has a 50 day simple moving average of $80.87 and a 200 day simple moving average of $76.26. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $83.47.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (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 during the quarter, compared to analysts’ expectations of $21.01 billion. During the same period in the previous year, the company posted $1.39 earnings per share. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, research analysts predict that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 3rd will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, October 3rd. Sysco’s payout ratio is currently 57.91%.

Analyst Ratings Changes

SYY has been the topic of several recent research reports. Guggenheim raised their price target on Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a research report on Monday. Truist Financial lifted their price target on Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, July 30th. Morgan Stanley lifted their price target on Sysco from $72.00 to $77.00 and gave the company an “equal weight” rating in a research note on Monday, July 14th. Wall Street Zen downgraded Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, UBS Group set a $90.00 price target on Sysco in a report on Wednesday, July 30th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Sysco presently has an average rating of “Moderate Buy” and a consensus price target of $85.85.

Insiders Place Their Bets

In related news, EVP Ronald L. Phillips sold 961 shares of the stock in a transaction 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 completion of the sale, the executive vice president directly owned 41,501 shares in the company, valued at $3,361,581. This represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total value of $3,200,000.00. Following the completion of the sale, the executive vice president owned 56,304 shares of the company’s stock, valued at $4,504,320. The trade was 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 90 days. 0.54% of the stock is currently owned by company insiders.

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.