BankPlus Trust Department Acquires 2,635 Shares of Sysco Corporation $SYY

BankPlus Trust Department raised its holdings in Sysco Corporation (NYSE:SYY) by 14.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,333 shares of the company’s stock after buying an additional 2,635 shares during the quarter. BankPlus Trust Department’s holdings in Sysco were worth $1,616,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SYY. Farther Finance Advisors LLC increased its holdings in Sysco by 30.9% in the 1st quarter. Farther Finance Advisors LLC now owns 5,502 shares of the company’s stock valued at $415,000 after buying an additional 1,298 shares during the period. Yousif Capital Management LLC increased its holdings in Sysco by 0.3% in the 1st quarter. Yousif Capital Management LLC now owns 170,724 shares of the company’s stock valued at $12,811,000 after buying an additional 436 shares during the period. Simplicity Wealth LLC grew its holdings in shares of Sysco by 50.1% in the 1st quarter. Simplicity Wealth LLC now owns 16,207 shares of the company’s stock worth $1,216,000 after purchasing an additional 5,412 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services grew its holdings in shares of Sysco by 25.2% in the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 4,927 shares of the company’s stock worth $370,000 after purchasing an additional 993 shares during the last quarter. Finally, Curated Wealth Partners LLC grew its holdings in shares of Sysco by 3.7% in the 1st quarter. Curated Wealth Partners LLC now owns 16,659 shares of the company’s stock worth $1,250,000 after purchasing an additional 599 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Truist Financial upped their target price on shares of Sysco from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. Wall Street Zen lowered shares of Sysco from a “buy” rating to a “hold” rating in a report on Saturday, September 13th. Guggenheim upped their target price on shares of Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a report on Monday. Barclays upped their target price on shares of Sysco from $77.00 to $82.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Finally, UBS Group set a $90.00 target price on shares of Sysco in a report on Wednesday, July 30th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $85.85.

Sysco Stock Down 1.2%

Shares of NYSE:SYY opened at $79.83 on Wednesday. Sysco Corporation has a 12 month low of $67.12 and a 12 month high of $83.47. The company’s 50-day moving average price is $80.90 and its two-hundred day moving average price is $76.25. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. The firm has a market cap of $38.20 billion, a P/E ratio of 21.40, a P/E/G ratio of 2.50 and a beta of 0.82.

Sysco (NYSE:SYY) last issued 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. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The firm had revenue of $21.14 billion for the quarter, compared to analyst estimates of $21.01 billion. During the same quarter in the prior year, the firm earned $1.39 EPS. The company’s 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, research analysts forecast that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 3rd will be given a dividend of $0.54 per share. 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 dividend payout ratio is presently 57.91%.

Insider Transactions at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 37,606 shares of the company’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the transaction, the executive vice president directly owned 30,235 shares in the company, valued at approximately $2,449,035. This represents a 55.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the company’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 transaction, the executive vice president owned 56,304 shares in the company, valued at approximately $4,504,320. The trade was 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 have sold 92,338 shares of company stock worth $7,439,331. Corporate insiders own 0.54% 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.