Riverview Trust Co Grows Holdings in Sysco Corporation $SYY

Riverview Trust Co grew its stake in Sysco Corporation (NYSE:SYY) by 169.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,543 shares of the company’s stock after acquiring an additional 1,600 shares during the period. Riverview Trust Co’s holdings in Sysco were worth $193,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Boyd Watterson Asset Management LLC OH raised its stake in shares of Sysco by 106.4% in the 1st 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 period. Gradient Investments LLC raised its stake in shares of Sysco by 9.2% in the 2nd 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 period. Beacon Financial Group raised its stake in shares of Sysco by 55.5% in the 2nd 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 period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Sysco by 2.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 223,510 shares of the company’s stock valued at $16,772,000 after acquiring an additional 4,932 shares during the period. Finally, Gallacher Capital Management LLC purchased a new stake in shares of Sysco in the 2nd quarter valued at approximately $730,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Sysco

In other news, EVP Greg D. Bertrand sold 40,000 shares of the company’s 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 transaction, the executive vice president owned 56,304 shares in the company, valued at approximately $4,504,320. This represents a 41.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ronald L. Phillips sold 37,606 shares of the company’s stock in a transaction on Wednesday, July 23rd. The shares were 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 approximately $2,449,035. The trade was a 55.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,338 shares of company stock valued at $7,439,331 in the last quarter. 0.54% of the stock is currently owned by company insiders.

Sysco Trading Up 0.6%

NYSE SYY opened at $82.85 on Thursday. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $83.24. The stock has a market capitalization of $40.16 billion, a PE ratio of 22.21, a price-to-earnings-growth ratio of 2.55 and a beta of 0.82. The firm has a 50 day moving average of $80.75 and a two-hundred day moving average of $75.98.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping 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 company had revenue of $21.14 billion during the quarter, compared to analysts’ expectations of $21.01 billion. During the same quarter in the previous year, the business posted $1.39 EPS. The firm’s revenue was up 2.8% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, research analysts expect that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, October 3rd. Sysco’s payout ratio is 57.91%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SYY shares. Guggenheim boosted their price target on shares of Sysco from $85.00 to $87.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Barclays upped 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. 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. Truist Financial upped 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. Finally, Morgan Stanley upped their target price on shares of Sysco from $72.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Monday, July 14th. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Sysco has an average rating of “Moderate Buy” and a consensus target price of $85.69.

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.