Tocqueville Asset Management L.P. Takes $11.45 Million Position in Sysco Corporation $SYY

Tocqueville Asset Management L.P. purchased a new position in Sysco Corporation (NYSE:SYY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 136,979 shares of the company’s stock, valued at approximately $11,449,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Montag A & Associates Inc. grew its stake in Sysco by 1.4% in the 4th quarter. Montag A & Associates Inc. now owns 8,743 shares of the company’s stock worth $644,000 after acquiring an additional 123 shares in the last quarter. United Community Bank increased its position in shares of Sysco by 11.4% during the fourth quarter. United Community Bank now owns 1,224 shares of the company’s stock worth $90,000 after acquiring an additional 125 shares during the period. First Citizens Bank & Trust Co. raised its stake in shares of Sysco by 1.2% during the fourth quarter. First Citizens Bank & Trust Co. now owns 11,224 shares of the company’s stock valued at $827,000 after acquiring an additional 138 shares in the last quarter. Diversify Wealth Management LLC boosted its holdings in shares of Sysco by 1.6% in the fourth quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company’s stock valued at $698,000 after purchasing an additional 143 shares during the period. Finally, Arax Advisory Partners boosted its holdings in shares of Sysco by 2.4% in the fourth quarter. Arax Advisory Partners now owns 6,222 shares of the company’s stock valued at $458,000 after purchasing an additional 145 shares during the period. Institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wall Street Zen downgraded Sysco from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Morgan Stanley upped their target price on Sysco from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. Citigroup increased their price target on Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft lowered Sysco from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a research note on Tuesday, April 28th. Finally, Barclays decreased their price objective on Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $89.50.

Insider Activity

In other news, EVP Ronald L. Phillips sold 6,285 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $83.94, for a total value of $527,562.90. Following the sale, the executive vice president directly owned 39,970 shares in the company, valued at approximately $3,355,081.80. This trade represents a 13.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John M. Hinshaw acquired 13,304 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the transaction, the director owned 40,200 shares in the company, valued at approximately $3,021,834. The trade was a 49.46% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.56% of the stock is owned by insiders.

Sysco Stock Up 0.8%

Sysco stock opened at $82.58 on Thursday. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62. The firm has a market cap of $39.53 billion, a P/E ratio of 22.56, a P/E/G ratio of 2.81 and a beta of 0.64. The business has a fifty day moving average of $82.48 and a two-hundred day moving average of $80.62. Sysco Corporation has a twelve month low of $68.19 and a twelve month high of $91.85.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The business had revenue of $22.12 billion for the quarter, compared to the consensus estimate of $21.95 billion. Sysco had a return on equity of 95.05% and a net margin of 2.08%.The business’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business posted $1.48 EPS. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. On average, analysts forecast that Sysco Corporation will post 5.1 earnings per share for the current fiscal year.

About Sysco

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.