DekaBank Deutsche Girozentrale Lowers Stake in Sysco Corporation $SYY

Key Points

• DekaBank Deutsche Girozentrale reduced its stake in Sysco Corporation by 29.4%, owning 853,417 shares after selling 355,822 during the second quarter.
• Sysco reported $1.48 EPS for the last quarter, surpassing analysts' estimates, with revenues of $21.14 billion, up 2.8% from the previous year.
• Sysco will pay a quarterly dividend of $0.54 per share on October 24th, with a 2.7% dividend yield and a payout ratio of 57.91%.

DekaBank Deutsche Girozentrale cut its position in Sysco Corporation (NYSE:SYY - Free Report) by 29.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 853,417 shares of the company's stock after selling 355,822 shares during the period. DekaBank Deutsche Girozentrale owned about 0.18% of Sysco worth $64,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Schnieders Capital Management LLC increased its stake in Sysco by 24.1% in the 2nd quarter. Schnieders Capital Management LLC now owns 10,310 shares of the company's stock worth $781,000 after buying an additional 2,000 shares in the last quarter. FLC Capital Advisors bought a new position in shares of Sysco in the second quarter worth about $284,000. Accretive Wealth Partners LLC grew its position in shares of Sysco by 1.2% during the second quarter. Accretive Wealth Partners LLC now owns 24,797 shares of the company's stock worth $1,878,000 after purchasing an additional 304 shares in the last quarter. Stephens Inc. AR raised its stake in Sysco by 0.6% during the 2nd quarter. Stephens Inc. AR now owns 25,040 shares of the company's stock valued at $1,897,000 after purchasing an additional 140 shares during the period. Finally, LMG Wealth Partners LLC raised its stake in Sysco by 0.5% during the 2nd quarter. LMG Wealth Partners LLC now owns 58,918 shares of the company's stock valued at $4,462,000 after purchasing an additional 298 shares during the period. Hedge funds and other institutional investors own 83.41% of the company's stock.

Sysco Stock Performance

Shares of NYSE:SYY opened at $79.14 on Wednesday. The firm has a fifty day simple moving average of $80.70 and a two-hundred day simple moving average of $76.64. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $83.47. 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 capitalization of $37.87 billion, a P/E ratio of 21.22, a PEG ratio of 2.47 and a beta of 0.82.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.09. The firm had revenue of $21.14 billion during the quarter, compared to the consensus estimate of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The firm's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, analysts expect that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be issued a $0.54 dividend. The ex-dividend date is Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.7%. Sysco's payout ratio is 57.91%.

Insider Buying and Selling at Sysco

In related news, EVP Ronald L. Phillips sold 7,351 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $81.00, for a total transaction of $595,431.00. Following the sale, the executive vice president owned 41,837 shares in the company, valued at approximately $3,388,797. This represents a 14.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 14,732 shares of company stock worth $1,193,245. Insiders own 0.56% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SYY. Weiss Ratings downgraded Sysco from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, October 8th. Citigroup boosted their target price on shares of Sysco from $84.00 to $86.00 and gave the stock a "neutral" rating in a report on Wednesday, October 15th. Wall Street Zen upgraded shares of Sysco from a "hold" rating to a "buy" rating in a research report on Saturday, October 11th. Guggenheim lifted their price target on shares of Sysco from $87.00 to $89.00 and gave the company a "buy" rating in a report on Monday, October 6th. Finally, Truist Financial increased their price objective on shares of Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $87.31.

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.

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