Sysco Corporation $SYY Shares Sold by WASHINGTON TRUST Co

WASHINGTON TRUST Co cut its holdings in Sysco Corporation (NYSE:SYY) by 30.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 19,066 shares of the company’s stock after selling 8,343 shares during the period. WASHINGTON TRUST Co’s holdings in Sysco were worth $1,405,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Montag A & Associates Inc. boosted its holdings in shares of Sysco by 1.4% in the 4th quarter. Montag A & Associates Inc. now owns 8,743 shares of the company’s stock valued at $644,000 after buying an additional 123 shares during the period. United Community Bank boosted its holdings in shares of Sysco by 11.4% in the 4th quarter. United Community Bank now owns 1,224 shares of the company’s stock valued at $90,000 after buying an additional 125 shares during the period. Octavia Wealth Advisors LLC boosted its holdings in shares of Sysco by 4.6% in the 4th quarter. Octavia Wealth Advisors LLC now owns 3,231 shares of the company’s stock valued at $237,000 after buying an additional 141 shares during the period. Diversify Wealth Management LLC boosted its holdings in shares of Sysco by 1.6% in the 4th quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company’s stock valued at $698,000 after buying an additional 143 shares during the period. Finally, Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Sysco by 11.1% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 1,469 shares of the company’s stock valued at $108,000 after buying an additional 147 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Sysco

In related news, Director John M. Hinshaw purchased 13,304 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were bought at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the transaction, the director owned 40,200 shares of the company’s stock, valued at $3,021,834. This represents a 49.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SYY shares. Weiss Ratings lowered shares of Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 30th. Wall Street Zen lowered shares of Sysco from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Piper Sandler cut their price objective on shares of Sysco from $83.00 to $77.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft downgraded shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 price objective on the stock. in a research report on Tuesday, April 28th. Finally, Citigroup lifted their price objective on shares of Sysco from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $88.15.

Sysco Trading Up 0.1%

Shares of NYSE:SYY opened at $75.98 on Friday. The company has a market cap of $36.33 billion, a PE ratio of 21.05, a P/E/G ratio of 3.10 and a beta of 0.66. The company’s 50-day moving average price is $75.17 and its 200 day moving average price is $78.10. Sysco Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 5.58.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). The firm had revenue of $20.52 billion during the quarter, compared to the consensus estimate of $20.56 billion. Sysco had a net margin of 2.08% and a return on equity of 103.57%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.96 earnings per share. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. Sell-side analysts anticipate that Sysco Corporation will post 4.59 earnings per share for the current year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Thursday, July 2nd will be given a $0.55 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $2.20 annualized dividend and a yield of 2.9%. This is a boost from Sysco’s previous quarterly dividend of $0.54. Sysco’s payout ratio is 59.83%.

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.