Sysco Corporation $SYY Shares Sold by Summit Place Financial Advisors LLC

Summit Place Financial Advisors LLC decreased its holdings in Sysco Corporation (NYSE:SYY) by 5.5% in the second quarter, Holdings Channel reports. The fund owned 4,304 shares of the company’s stock after selling 250 shares during the period. Summit Place Financial Advisors LLC’s holdings in Sysco were worth $326,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SYY. Farther Finance Advisors LLC increased its holdings in shares of Sysco by 30.9% during the 1st quarter. Farther Finance Advisors LLC now owns 5,502 shares of the company’s stock worth $415,000 after buying an additional 1,298 shares during the last quarter. Focus Financial Network Inc. increased its holdings in shares of Sysco by 5.9% during the 1st quarter. Focus Financial Network Inc. now owns 3,994 shares of the company’s stock worth $300,000 after buying an additional 221 shares during the last quarter. Verity & Verity LLC increased its holdings in shares of Sysco by 6.1% during the 1st quarter. Verity & Verity LLC now owns 7,029 shares of the company’s stock worth $527,000 after buying an additional 402 shares during the last quarter. Everhart Financial Group Inc. increased its holdings in shares of Sysco by 12.1% during the 1st quarter. Everhart Financial Group Inc. now owns 5,871 shares of the company’s stock worth $441,000 after buying an additional 632 shares during the last quarter. Finally, Stanley Laman Group Ltd. increased its holdings in shares of Sysco by 1.4% during the 1st quarter. Stanley Laman Group Ltd. now owns 46,459 shares of the company’s stock worth $3,486,000 after buying an additional 660 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wells Fargo & Company set a $88.00 price target on shares of Sysco and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Guggenheim lifted their target price on shares of Sysco from $87.00 to $89.00 and gave the company a “buy” rating in a report on Monday. Weiss Ratings downgraded shares of Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Barclays lifted their target price on shares of Sysco from $77.00 to $82.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Finally, Truist Financial lifted their target price on shares of Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $85.85.

Insider Activity at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 37,606 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president owned 30,235 shares of the company’s stock, valued at $2,449,035. This trade represents a 55.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the sale, the executive vice president directly owned 56,304 shares of the company’s stock, 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. Insiders sold a total of 92,338 shares of company stock valued at $7,439,331 in the last three months. 0.54% of the stock is currently owned by corporate insiders.

Sysco Stock Performance

Shares of SYY stock opened at $78.44 on Friday. 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 $83.47. The stock has a market capitalization of $37.53 billion, a PE ratio of 21.03, a P/E/G ratio of 2.42 and a beta of 0.82. The firm has a 50 day moving average of $80.81 and a two-hundred day moving average of $76.37.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, beating 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 last year, the company posted $1.39 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, research analysts predict that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm 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. This represents a $2.16 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, October 3rd. Sysco’s dividend payout ratio (DPR) is currently 57.91%.

Sysco 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.