Valmark Advisers Inc. increased its position in shares of Sysco Corporation (NYSE:SYY – Free Report) by 15.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 3,384 shares of the company’s stock after acquiring an additional 445 shares during the quarter. Valmark Advisers Inc.’s holdings in Sysco were worth $256,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of SYY. Boston Partners increased its position in Sysco by 24.8% during the first quarter. Boston Partners now owns 15,199,828 shares of the company’s stock worth $1,139,798,000 after purchasing an additional 3,015,714 shares during the last quarter. Canoe Financial LP boosted its stake in Sysco by 29,610.4% during the first quarter. Canoe Financial LP now owns 1,431,149 shares of the company’s stock worth $107,393,000 after buying an additional 1,426,332 shares during the period. Nuveen LLC purchased a new position in Sysco during the first quarter worth about $85,341,000. Amundi boosted its stake in Sysco by 36.5% during the first quarter. Amundi now owns 3,725,508 shares of the company’s stock worth $280,941,000 after buying an additional 995,498 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in Sysco by 1,940.1% during the first quarter. Mackenzie Financial Corp now owns 1,016,660 shares of the company’s stock worth $76,290,000 after buying an additional 966,826 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction that occurred 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 transaction, the executive vice president owned 56,304 shares in the company, valued at $4,504,320. The trade was a 41.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ronald L. Phillips sold 37,606 shares of Sysco stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the completion of the transaction, the executive vice president owned 30,235 shares of the company’s stock, valued at $2,449,035. This represents a 55.43% decrease in their position. 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 quarter. 0.54% of the stock is owned by insiders.
Sysco Trading Up 0.5%
Sysco (NYSE:SYY – Get Free Report) last posted its quarterly earnings data 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 net margin of 2.25% and a return on equity of 109.52%. The business had revenue of $21.14 billion during the quarter, compared to analyst estimates of $21.01 billion. During the same quarter last year, the firm posted $1.39 earnings per share. The business’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. Equities research analysts anticipate 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. Investors of record on Friday, October 3rd will be paid a $0.54 dividend. The ex-dividend date is Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 2.8%. Sysco’s payout ratio is currently 57.91%.
Analysts Set New Price Targets
SYY has been the subject of several research analyst reports. Wall Street Zen raised shares of Sysco from a “hold” rating to a “buy” rating in a research note on Saturday. Truist Financial increased their target price on shares of Sysco from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Wells Fargo & Company set a $88.00 target price on shares of Sysco and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Barclays increased their target price on shares of Sysco from $77.00 to $82.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Finally, UBS Group set a $90.00 price objective on shares of Sysco in a research note on Wednesday, July 30th. Ten research analysts have rated the stock with a Buy rating and five 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 $85.85.
Get Our Latest Research Report on SYY
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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