Sysco Corporation $SYY Shares Sold by Federation des caisses Desjardins du Quebec

Key Points

• Federation des caisses Desjardins du Quebec has reduced its stake in Sysco Corporation by 28.1%, now holding 200,663 shares worth approximately $15.06 million after selling 78,600 shares in the first quarter.
• In addition to Desjardins, other hedge funds have increased their positions in Sysco, with Rialto Wealth Management LLC growing its holdings by 188.7% in the same period.
• Sysco recently declared a quarterly dividend of $0.54 per share, which is scheduled to be paid on October 24th, representing an annualized yield of 2.7%.

Federation des caisses Desjardins du Quebec lessened its position in Sysco Corporation (NYSE:SYY - Free Report) by 28.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 200,663 shares of the company's stock after selling 78,600 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Sysco were worth $15,059,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rialto Wealth Management LLC lifted its position in shares of Sysco by 188.7% in the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock valued at $25,000 after acquiring an additional 217 shares in the last quarter. Golden State Wealth Management LLC increased its stake in shares of Sysco by 48.4% in the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock worth $32,000 after acquiring an additional 140 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in shares of Sysco in the 1st quarter worth $33,000. Capital A Wealth Management LLC acquired a new stake in shares of Sysco in the 4th quarter worth $34,000. Finally, Cheviot Value Management LLC acquired a new stake in shares of Sysco in the 1st quarter worth $34,000. Hedge funds and other institutional investors own 83.41% of the company's stock.

Insiders Place Their Bets

In related news, EVP Ronald L. Phillips sold 7,351 shares of the business's 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 completion of the transaction, the executive vice president directly owned 41,837 shares of the company's stock, valued at $3,388,797. The trade was a 14.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the business's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total value of $3,200,000.00. Following the transaction, the executive vice president directly owned 56,304 shares of the company's stock, valued at $4,504,320. The trade was a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,377 shares of company stock valued at $7,361,490 over the last ninety days. Insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on SYY shares. JPMorgan Chase & Co. raised their target price on Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. UBS Group set a $90.00 target price on Sysco in a research note on Wednesday, July 30th. Morgan Stanley lifted their target price on Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. Wells Fargo & Company set a $88.00 target price on Sysco and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Finally, Truist Financial lifted their target price on Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Sysco presently has an average rating of "Moderate Buy" and a consensus price target of $85.69.

Sysco Trading Down 0.1%

Shares of NYSE SYY traded down $0.06 during trading on Friday, reaching $82.45. The stock had a trading volume of 2,675,007 shares, compared to its average volume of 2,683,667. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $83.17. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. The business's 50-day moving average price is $79.29 and its 200-day moving average price is $75.06. The company has a market cap of $39.97 billion, a P/E ratio of 22.11, a PEG ratio of 2.56 and a beta of 0.80.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.09. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The business had revenue of $21.14 billion during the quarter, compared to analysts' expectations of $21.01 billion. During the same period in the previous year, the firm posted $1.39 earnings per share. The company'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 research analysts predict that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be paid a $0.54 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.6%. Sysco's payout ratio is presently 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.