Sysco Corporation $SYY Stake Lessened by Harbour Trust & Investment Management Co

Harbour Trust & Investment Management Co trimmed its holdings in shares of Sysco Corporation (NYSE:SYY) by 1.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 59,912 shares of the company’s stock after selling 739 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Sysco were worth $4,538,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Axxcess Wealth Management LLC lifted its position in Sysco by 160.1% in the 2nd quarter. Axxcess Wealth Management LLC now owns 11,927 shares of the company’s stock worth $903,000 after buying an additional 7,341 shares in the last quarter. Moran Wealth Management LLC raised its holdings in shares of Sysco by 43.2% during the 2nd quarter. Moran Wealth Management LLC now owns 181,178 shares of the company’s stock valued at $13,722,000 after purchasing an additional 54,624 shares in the last quarter. Cornerstone Wealth Group LLC raised its holdings in shares of Sysco by 5.1% during the 2nd quarter. Cornerstone Wealth Group LLC now owns 3,027 shares of the company’s stock valued at $229,000 after purchasing an additional 147 shares in the last quarter. NorthRock Partners LLC grew its stake in Sysco by 2.2% in the 2nd quarter. NorthRock Partners LLC now owns 6,514 shares of the company’s stock valued at $493,000 after buying an additional 142 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its stake in Sysco by 0.7% in the 2nd quarter. Verdence Capital Advisors LLC now owns 32,536 shares of the company’s stock valued at $2,464,000 after buying an additional 233 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SYY. Bank of America raised their price target on shares of Sysco from $81.00 to $93.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Weiss Ratings downgraded shares of Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Wall Street Zen raised shares of Sysco from a “hold” rating to a “buy” rating in a report on Saturday. Guggenheim boosted their target price on shares of Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Finally, Wells Fargo & Company set a $88.00 price target on shares of Sysco and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $85.85.

Insider Buying and Selling

In other Sysco news, EVP Ronald L. Phillips sold 37,606 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president owned 30,235 shares of the company’s stock, 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 can be accessed through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the firm’s stock in a transaction that occurred 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,338 shares of company stock valued at $7,439,331. 0.56% of the stock is owned by company insiders.

Sysco Price Performance

NYSE:SYY opened at $78.21 on Tuesday. Sysco Corporation has a one year low of $67.12 and a one year high of $83.47. The company has a market cap of $37.42 billion, a P/E ratio of 20.97, a P/E/G ratio of 2.43 and a beta of 0.82. The firm’s fifty day moving average price is $80.79 and its two-hundred day moving average price is $76.44. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70.

Sysco (NYSE:SYY) last released 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 business had revenue of $21.14 billion for the quarter, compared to the consensus estimate of $21.01 billion. During the same period in the prior year, the company posted $1.39 earnings per share. Sysco’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. Equities analysts expect that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, October 3rd. Sysco’s dividend payout ratio (DPR) is 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.