Boston Trust Walden Corp Sells 76,603 Shares of Sysco Corporation $SYY

Key Points

• Boston Trust Walden reduced its Sysco stake by 9.5%, selling 76,603 shares in the third quarter. It retained 729,457 shares, valued at about $56.9 million.
• Sysco reported quarterly EPS of $1.19, matching estimates, while revenue of $21.74 billion fell short of analysts’ $22.02 billion forecast. Revenue rose 2.8% year over year.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $91.33. Sysco’s annualized dividend was $2.20 per share, a yield of about 2.9%.

Boston Trust Walden Corp reduced its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 9.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 729,457 shares of the company's stock after selling 76,603 shares during the quarter. Boston Trust Walden Corp owned about 0.15% of Sysco worth $56,868,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Sysco in the 2nd quarter valued at about $3,596,356,000. Bank of America Corp DE acquired a new stake in shares of Sysco during the second quarter valued at approximately $482,589,000. Dimensional Fund Advisors LP lifted its holdings in shares of Sysco by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 4,667,412 shares of the company's stock valued at $332,871,000 after purchasing an additional 59,685 shares in the last quarter. Primecap Management Co. CA purchased a new stake in Sysco in the 2nd quarter worth about $313,503,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Sysco in the second quarter worth approximately $273,323,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Price Performance

Shares of SYY stock opened at $76.99 on Thursday. The firm's 50 day moving average is $80.17 and its 200-day moving average is $80.51. Sysco Corporation has a 1 year low of $68.19 and a 1 year high of $91.85. The company has a current ratio of 1.46, a quick ratio of 0.77 and a debt-to-equity ratio of 3.18. The firm has a market capitalization of $37.87 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 2.08 and a beta of 0.66.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $1.19 EPS for the quarter, hitting the consensus estimate of $1.19. The company had revenue of $21.74 billion during the quarter, compared to analysts' expectations of $22.02 billion. Sysco had a net margin of 2.12% and a return on equity of 79.24%. Sysco's revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.15 EPS. Sell-side analysts forecast that Sysco Corporation will post 5.09 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Friday, October 2nd. Sysco's dividend payout ratio is currently 60.11%.

Wall Street Analyst Weigh In

SYY has been the subject of several research reports. DA Davidson lifted their price target on Sysco from $89.00 to $91.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Sysco from $86.00 to $89.00 and gave the stock a "hold" rating in a research note on Wednesday, August 5th. Piper Sandler boosted their target price on Sysco from $77.00 to $84.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Sysco in a report on Wednesday. Finally, BMO Capital Markets raised their target price on Sysco from $90.00 to $98.00 in a report on Wednesday, August 5th. Eleven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $91.33.

Sysco News Summary

Here are the key news stories impacting Sysco this week:

• Positive Sentiment: Sysco reported first-quarter adjusted EPS of $1.19, in line with the company’s stated consensus, while local case volume grew 2.7%. It reaffirmed fiscal 2027 adjusted EPS growth guidance of 9%–11% and its local-volume outlook. Sysco first-quarter results
• Positive Sentiment: UBS said execution remains on track despite first-quarter challenges, offering a more reassuring view of the company’s operating performance. UBS assessment
• Positive Sentiment: Sysco’s AI transformation is intended to generate $100 million in savings in fiscal 2027, a potential efficiency tailwind. Long-term investor takeaways
• Neutral Sentiment: JPMorgan lowered its price target to $92 from $95 but retained a target implying substantial upside from the cited share price. JPMorgan price target
• Negative Sentiment: Revenue of $21.74 billion missed analysts’ $22.02 billion estimate, and softer sales guidance disappointed investors. A cyclosporiasis outbreak also hurt quarterly sales. Revenue miss and guidance Outbreak impact
• Negative Sentiment: The proposed $29.1 billion Jetro Restaurant Depot acquisition remains subject to FTC clearance. Deal-related costs weighed on operating income, and regulatory scrutiny adds uncertainty. Acquisition investigation notice

Insider Buying and Selling

In related news, EVP Ronald Phillips sold 7,350 shares of the business's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $83.61, for a total transaction of $614,533.50. Following the transaction, the executive vice president directly owned 38,650 shares in the company, valued at approximately $3,231,526.50. The trade was a 15.98% decrease in their ownership of the stock. The sale 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. Insiders sold 15,525 shares of company stock worth $1,299,736 over the last ninety days. Corporate insiders own 0.55% of the company's stock.

Sysco Company Profile

Sysco Corporation is a global foodservice distribution company headquartered in Houston, Texas. It supplies food and related products to restaurants, healthcare and educational institutions, hotels, government facilities, and other foodservice operators.

The company distributes a broad range of products, including fresh and frozen foods, meat and seafood, produce, dairy products, canned and packaged goods, beverages, and specialty food items. Sysco also provides nonfood products such as kitchen and dining supplies, equipment, and cleaning products, along with services intended to help customers manage menus, procurement, and operations.

Founded in 1969, Sysco serves customers primarily across the United States and Canada, as well as in parts of Europe and other international markets.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.