TD Asset Management Inc Lowers Stock Holdings in Sysco Corporation $SYY

TD Asset Management Inc lowered its holdings in Sysco Corporation (NYSE:SYY) by 11.6% in the second quarter, Holdings Channel.com reports. The firm owned 187,672 shares of the company’s stock after selling 24,643 shares during the period. TD Asset Management Inc’s holdings in Sysco were worth $14,214,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Boyd Watterson Asset Management LLC OH grew its position in shares of Sysco by 106.4% in the first quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company’s stock valued at $236,000 after purchasing an additional 1,622 shares during the period. Gradient Investments LLC boosted its holdings in Sysco by 9.2% in the second 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 during the last quarter. Beacon Financial Group boosted its holdings in Sysco by 55.5% in the second quarter. Beacon Financial Group now owns 9,955 shares of the company’s stock valued at $754,000 after acquiring an additional 3,554 shares during the last quarter. Shell Asset Management Co. boosted its holdings in Sysco by 31.6% in the second quarter. Shell Asset Management Co. now owns 19,218 shares of the company’s stock valued at $1,456,000 after acquiring an additional 4,620 shares during the last quarter. Finally, KLP Kapitalforvaltning AS boosted its holdings in Sysco by 5.8% in the second quarter. KLP Kapitalforvaltning AS now owns 448,600 shares of the company’s stock valued at $33,977,000 after acquiring an additional 24,500 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Trading Up 1.4%

Shares of SYY opened at $79.92 on Friday. Sysco Corporation has a 12 month low of $67.12 and a 12 month high of $83.47. The stock has a market cap of $38.24 billion, a PE ratio of 21.42, a P/E/G ratio of 2.47 and a beta of 0.82. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70. The stock’s 50-day moving average is $80.73 and its two-hundred day moving average is $76.55.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.09. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The business had revenue of $21.14 billion for the quarter, compared to analyst estimates of $21.01 billion. During the same period in the previous year, the company earned $1.39 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Equities analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, October 3rd. Sysco’s payout ratio is presently 57.91%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SYY. Citigroup lifted their target price on Sysco from $84.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday. Truist Financial lifted their target price on Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. Wall Street Zen upgraded Sysco from a “hold” rating to a “buy” rating in a report on Saturday, October 11th. Wells Fargo & Company set a $88.00 target price on Sysco and gave the company an “overweight” rating in a report on Tuesday, July 29th. Finally, Bank of America boosted their price objective on Sysco from $81.00 to $93.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $86.46.

Insider Transactions at Sysco

In other news, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction dated 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. The trade was a 41.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ronald L. Phillips sold 961 shares of Sysco stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $81.00, for a total value of $77,841.00. Following the sale, the executive vice president directly owned 41,501 shares in the company, valued at approximately $3,361,581. The trade was a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,338 shares of company stock worth $7,439,331. Corporate insiders own 0.56% of the company’s stock.

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.