Equitable Trust Co. Has $3.42 Million Stock Holdings in Sysco Corporation $SYY

Equitable Trust Co. decreased its position in Sysco Corporation (NYSE:SYY) by 2.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 45,138 shares of the company’s stock after selling 1,171 shares during the period. Equitable Trust Co.’s holdings in Sysco were worth $3,419,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Boyd Watterson Asset Management LLC OH lifted its position in 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 in the last quarter. Gradient Investments LLC lifted its position in 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 in the last quarter. Beacon Financial Group lifted its position in Sysco by 55.5% during the 2nd quarter. Beacon Financial Group now owns 9,955 shares of the company’s stock worth $754,000 after buying an additional 3,554 shares in the last quarter. Shell Asset Management Co. lifted its position in Sysco by 31.6% during the 2nd quarter. Shell Asset Management Co. now owns 19,218 shares of the company’s stock worth $1,456,000 after buying an additional 4,620 shares in the last quarter. Finally, KLP Kapitalforvaltning AS lifted its position in Sysco by 5.8% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 448,600 shares of the company’s stock worth $33,977,000 after buying an additional 24,500 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Insider Activity at Sysco

In other news, EVP Greg D. Bertrand sold 40,000 shares of the stock in a transaction on 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 sale, the executive vice president directly owned 56,304 shares in the company, valued at $4,504,320. This represents a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ronald L. Phillips sold 37,606 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the sale, the executive vice president owned 30,235 shares of the company’s stock, valued at approximately $2,449,035. This trade represents a 55.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 92,338 shares of company stock valued at $7,439,331. 0.56% of the stock is owned by insiders.

Sysco Stock Performance

Shares of Sysco stock opened at $78.21 on Tuesday. The company has a 50 day moving average of $80.79 and a 200-day moving average of $76.44. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $83.47. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75. The company has a market cap of $37.42 billion, a PE ratio of 20.97, a price-to-earnings-growth ratio of 2.43 and a beta of 0.82.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $21.01 billion. During the same quarter in the prior year, the firm posted $1.39 EPS. The firm’s quarterly 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, equities research analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be paid a $0.54 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.16 annualized dividend and a yield of 2.8%. Sysco’s dividend payout ratio is presently 57.91%.

Analyst Ratings Changes

SYY has been the topic of a number of research analyst reports. Weiss Ratings cut shares of Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Morgan Stanley upped their target price on shares of Sysco from $72.00 to $77.00 and gave the company an “equal weight” rating in a report on Monday, July 14th. Wells Fargo & Company set a $88.00 price target on shares of Sysco and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Guggenheim upped their price target on shares of Sysco from $87.00 to $89.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Finally, Truist Financial upped their price target on shares of Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, July 30th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and an average target price of $85.85.

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.