Bank of Hawaii Has $587,000 Holdings in Sysco Corporation $SYY

Key Points

• Bank of Hawaii reduced its holdings in Sysco Corporation by 32.2%, now owning 7,827 shares valued at approximately $587,000.
• Recent analyst reports have led to a mix of ratings for Sysco, with ten analysts giving a Buy rating and four a Hold rating, resulting in an average rating of "Moderate Buy".
• Sysco recently announced a quarterly dividend of $0.54 per share, yielding approximately 2.7%, with the dividend payout ratio at 57.91%.

Bank of Hawaii trimmed its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 32.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,827 shares of the company's stock after selling 3,722 shares during the period. Bank of Hawaii's holdings in Sysco were worth $587,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SYY. Boyd Watterson Asset Management LLC OH increased its stake in shares of 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 buying an additional 1,622 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Sysco by 2.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 223,510 shares of the company's stock worth $16,772,000 after acquiring an additional 4,932 shares in the last quarter. Fiduciary Trust Co lifted its holdings in shares of Sysco by 0.3% in the fourth quarter. Fiduciary Trust Co now owns 66,495 shares of the company's stock valued at $5,084,000 after purchasing an additional 196 shares in the last quarter. Dynamic Advisor Solutions LLC bought a new stake in shares of Sysco in the first quarter valued at about $202,000. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Sysco by 48.4% in the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after purchasing an additional 140 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SYY has been the topic of a number of recent research reports. Citigroup initiated coverage on Sysco in a research report on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 target price on the stock. Wall Street Zen downgraded Sysco from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Guggenheim boosted their price target on Sysco from $85.00 to $87.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. boosted their price objective on Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, May 20th. 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 report on Friday, July 18th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Sysco currently has an average rating of "Moderate Buy" and a consensus target price of $85.69.

Sysco Price Performance

Sysco stock opened at $79.3370 on Tuesday. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $82.64. The company's 50 day moving average price is $78.23 and its two-hundred day moving average price is $74.49. 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 stock has a market cap of $38.46 billion, a P/E ratio of 21.27, a P/E/G ratio of 2.49 and a beta of 0.83.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $21.14 billion for the quarter, compared to analysts' expectations of $21.01 billion. During the same quarter in the previous year, the firm posted $1.39 EPS. Sysco'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. On average, equities analysts predict that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be issued 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 currently 57.91%.

Insiders Place Their Bets

In other news, 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 completion of the transaction, the executive vice president directly owned 56,304 shares of the company's stock, valued at approximately $4,504,320. This represents a 41.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Ronald L. Phillips sold 6,286 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $81.00, for a total transaction of $509,166.00. Following the transaction, the executive vice president owned 34,404 shares in the company, valued at $2,786,724. This represents a 15.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 84,026 shares of company stock valued at $6,766,059 over the last ninety days. 0.54% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sysco Corporation (NYSE:SYY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.