Fort Washington Investment Advisors Inc. OH Sells 35,387 Shares of Sysco Corporation $SYY

Key Points

• Fort Washington Investment Advisors Inc. reduced its stake in Sysco Corporation by 4.7%, selling 35,387 shares and now holding 724,449 shares valued at approximately $54.87 million.
• Sysco announced a quarterly dividend of $0.54 per share, payable on October 24th, representing an annualized yield of 2.6%.
• Analysts maintain a strong outlook on Sysco, with a consensus target price of $85.69 and most analysts rating the stock as a "Moderate Buy."

Fort Washington Investment Advisors Inc. OH trimmed its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 4.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 724,449 shares of the company's stock after selling 35,387 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned approximately 0.15% of Sysco worth $54,870,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Boyd Watterson Asset Management LLC OH boosted its stake in shares of Sysco by 106.4% during the first quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company's stock valued at $236,000 after purchasing an additional 1,622 shares in the last quarter. Gradient Investments LLC boosted its stake in shares of Sysco by 9.2% during the second quarter. Gradient Investments LLC now owns 189,169 shares of the company's stock valued at $14,328,000 after purchasing an additional 15,906 shares in the last quarter. Beacon Financial Group boosted its stake in shares of Sysco by 55.5% during the second quarter. Beacon Financial Group now owns 9,955 shares of the company's stock valued at $754,000 after purchasing an additional 3,554 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Sysco by 2.3% in 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 during the period. Finally, Gallacher Capital Management LLC acquired a new position in shares of Sysco in the second quarter worth approximately $730,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Trading Up 1.0%

Shares of Sysco stock opened at $81.92 on Friday. The stock has a fifty day simple moving average of $80.60 and a 200 day simple moving average of $75.80. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $83.24. The company has a market capitalization of $39.71 billion, a P/E ratio of 21.96, a price-to-earnings-growth ratio of 2.54 and a beta of 0.80. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $21.01 billion. During the same quarter in the prior year, the company posted $1.39 earnings per share. Sysco's revenue was up 2.8% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, sell-side analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, October 3rd. Sysco's dividend payout ratio is currently 57.91%.

Insiders Place Their Bets

In other news, EVP Ronald L. Phillips sold 37,606 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the transaction, the executive vice president owned 30,235 shares of the company's stock, valued at $2,449,035. This represents a 55.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Greg D. Bertrand sold 40,000 shares of the company's stock in a transaction on Tuesday, July 22nd. The shares were 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 in the company, valued at $4,504,320. This represents a 41.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,338 shares of company stock worth $7,439,331 in the last ninety days. Insiders own 0.54% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on SYY shares. Wells Fargo & Company set a $88.00 price objective on Sysco and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Barclays lifted their price objective on Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Morgan Stanley lifted their price objective on Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Guggenheim lifted their price objective on Sysco from $85.00 to $87.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, Truist Financial lifted their price objective on Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $85.69.

About Sysco

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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