TD Waterhouse Canada Inc. Sells 34,136 Shares of Sysco Corporation $SYY

TD Waterhouse Canada Inc. cut its stake in shares of Sysco Corporation (NYSE:SYY) by 90.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,756 shares of the company’s stock after selling 34,136 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Sysco were worth $292,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cyndeo Wealth Partners LLC increased its position in shares of Sysco by 15.3% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 3,998 shares of the company’s stock worth $312,000 after purchasing an additional 532 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in Sysco by 6.1% during the 3rd quarter. V Square Quantitative Management LLC now owns 15,350 shares of the company’s stock valued at $1,197,000 after purchasing an additional 883 shares during the last quarter. Weaver Capital Management LLC bought a new position in Sysco during the 3rd quarter valued at about $205,000. Ninety One UK Ltd acquired a new position in Sysco in the third quarter valued at about $166,151,000. Finally, Ninety One SA Pty Ltd acquired a new position in Sysco in the third quarter valued at about $190,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of NYSE:SYY opened at $81.38 on Friday. Sysco Corporation has a twelve month low of $68.19 and a twelve month high of $91.85. The firm has a market cap of $40.04 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 2.87 and a beta of 0.64. The company has a debt-to-equity ratio of 4.62, a quick ratio of 0.77 and a current ratio of 1.28. The business has a fifty day moving average of $80.49 and a 200-day moving average of $79.29.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The business had revenue of $22.12 billion during the quarter, compared to analysts’ expectations of $21.95 billion. Sysco had a return on equity of 95.05% and a net margin of 2.08%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.48 earnings per share. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. On average, equities research analysts predict that Sysco Corporation will post 5.10 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Friday, October 2nd. Sysco’s dividend payout ratio is presently 60.11%.

Insider Activity

In other news, EVP Ronald Phillips sold 7,350 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $83.61, for a total transaction of $614,533.50. Following the sale, the executive vice president directly owned 38,650 shares of the company’s stock, valued at $3,231,526.50. This represents a 15.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 15,525 shares of company stock worth $1,299,736 in the last quarter. 0.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SYY shares. Morgan Stanley upped their price objective on shares of Sysco from $88.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 15th. Citigroup raised their price objective on shares of Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Weiss Ratings upgraded shares of Sysco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 15th. UBS Group boosted their target price on Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Guggenheim restated a “buy” rating and set a $90.00 price target on shares of Sysco in a research report on Wednesday, September 16th. Nine equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Sysco has an average rating of “Moderate Buy” and an average price target of $90.42.

Sysco Company Profile

Sysco Corporation is a global foodservice distribution company headquartered in Houston, Texas. It supplies food and related products to restaurants, healthcare and educational institutions, hotels, government facilities, and other foodservice operators.

The company distributes a broad range of products, including fresh and frozen foods, meat and seafood, produce, dairy products, canned and packaged goods, beverages, and specialty food items. Sysco also provides nonfood products such as kitchen and dining supplies, equipment, and cleaning products, along with services intended to help customers manage menus, procurement, and operations.

Founded in 1969, Sysco serves customers primarily across the United States and Canada, as well as in parts of Europe and other international markets.