Equitable Trust Co. Lowers Stock Holdings in Sysco Corporation $SYY

Equitable Trust Co. lowered its holdings in Sysco Corporation (NYSE:SYY) by 2.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,138 shares of the company’s stock after selling 1,171 shares during the period. Equitable Trust Co.’s holdings in Sysco were worth $3,419,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Boyd Watterson Asset Management LLC OH boosted its holdings in Sysco by 106.4% in the first 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 last quarter. Gradient Investments LLC boosted its holdings in Sysco by 9.2% in the second quarter. Gradient Investments LLC now owns 189,169 shares of the company’s stock valued at $14,328,000 after acquiring an additional 15,906 shares during the last quarter. Beacon Financial Group boosted 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 acquiring an additional 3,554 shares during the last quarter. Shell Asset Management Co. boosted its holdings in Sysco by 31.6% in the second quarter. Shell Asset Management Co. now owns 19,218 shares of the company’s stock valued at $1,456,000 after acquiring an additional 4,620 shares during the last quarter. Finally, KLP Kapitalforvaltning AS lifted its stake in shares of Sysco by 5.8% during the second quarter. KLP Kapitalforvaltning AS now owns 448,600 shares of the company’s stock worth $33,977,000 after purchasing an additional 24,500 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

Shares of NYSE:SYY opened at $78.21 on Tuesday. Sysco Corporation has a one year low of $67.12 and a one year high of $83.47. The stock has a fifty day moving average of $80.79 and a 200-day moving average of $76.44. The company has a market capitalization of $37.42 billion, a PE ratio of 20.97, a price-to-earnings-growth ratio of 2.43 and a beta of 0.82. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21.

Sysco (NYSE:SYY) last released its 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. The company had revenue of $21.14 billion during the quarter, compared to analyst estimates of $21.01 billion. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.39 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, equities analysts anticipate that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

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 given a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 2.8%. Sysco’s dividend payout ratio (DPR) is 57.91%.

Insider Transactions at Sysco

In related news, EVP Greg D. Bertrand sold 40,000 shares of the firm’s 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 sale, the executive vice president owned 56,304 shares of the company’s stock, valued at $4,504,320. This trade represents a 41.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Ronald L. Phillips sold 961 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $81.00, for a total transaction of $77,841.00. Following the completion of the sale, the executive vice president directly owned 41,501 shares of the company’s stock, valued at approximately $3,361,581. This represents a 2.26% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,338 shares of company stock worth $7,439,331. 0.56% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Weiss Ratings cut Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Guggenheim boosted their price target on Sysco from $87.00 to $89.00 and gave the company a “buy” rating in a report on Monday, October 6th. Barclays boosted their price target on Sysco from $77.00 to $82.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. UBS Group set a $90.00 price target on Sysco in a report on Wednesday, July 30th. Finally, Wall Street Zen raised Sysco from a “hold” rating to a “buy” rating in a report on Saturday. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $85.85.

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.