DAVENPORT & Co LLC Has $4.55 Million Stock Position in Sysco Corporation $SYY

DAVENPORT & Co LLC increased its position in shares of Sysco Corporation (NYSE:SYY) by 0.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,051 shares of the company’s stock after buying an additional 143 shares during the period. DAVENPORT & Co LLC’s holdings in Sysco were worth $4,548,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Marks Group Wealth Management Inc bought a new stake in shares of Sysco during the 2nd quarter worth $1,194,000. Merit Financial Group LLC boosted its holdings in shares of Sysco by 29.0% during the 2nd quarter. Merit Financial Group LLC now owns 51,219 shares of the company’s stock worth $3,879,000 after buying an additional 11,523 shares during the period. Simplicity Wealth LLC boosted its holdings in shares of Sysco by 70.6% during the 2nd quarter. Simplicity Wealth LLC now owns 27,650 shares of the company’s stock worth $2,094,000 after buying an additional 11,443 shares during the period. Clarius Group LLC boosted its holdings in shares of Sysco by 61.6% during the 2nd quarter. Clarius Group LLC now owns 7,487 shares of the company’s stock worth $567,000 after buying an additional 2,855 shares during the period. Finally, AMF Tjanstepension AB boosted its holdings in shares of Sysco by 66.8% during the 2nd quarter. AMF Tjanstepension AB now owns 264,581 shares of the company’s stock worth $20,039,000 after buying an additional 105,991 shares during the period. 83.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SYY shares. Bank of America upped their price objective on shares of Sysco from $81.00 to $93.00 and gave the stock a “buy” rating in a report on Friday, July 18th. UBS Group set a $90.00 price target on shares of Sysco in a report on Wednesday, July 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of Sysco in a report on Saturday, September 27th. Truist Financial increased their price target on shares of Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. Finally, Guggenheim increased their price target on shares of Sysco from $87.00 to $89.00 and gave the company a “buy” rating in a report on Monday. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Sysco has an average rating of “Moderate Buy” and an average target price of $85.85.

Insider Transactions at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 37,606 shares of the business’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total value of $3,046,086.00. Following the transaction, the executive vice president directly owned 30,235 shares in the company, valued at $2,449,035. The trade was a 55.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the business’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total transaction 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 trade represents a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,338 shares of company stock worth $7,439,331. Company insiders own 0.54% of the company’s stock.

Sysco Price Performance

NYSE:SYY opened at $79.83 on Wednesday. The company has a 50-day moving average of $80.90 and a 200-day moving average of $76.25. The company has a market capitalization of $38.20 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 2.50 and a beta of 0.82. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $83.47. 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 quarterly earnings data on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.09. The company had revenue of $21.14 billion during the quarter, compared to the consensus estimate of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the firm earned $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, equities research analysts anticipate that Sysco Corporation will post 4.58 earnings per share 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 given 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 2.7%. Sysco’s payout ratio is 57.91%.

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.