Glenview Trust Co Invests $4.43 Million in Sysco Corporation $SYY

Key Points

• Glenview Trust Co. acquired 52,985 Sysco shares worth approximately $4.43 million in the second quarter. Institutional investors collectively own 83.41% of Sysco’s outstanding stock.
• Sysco exceeded quarterly expectations, reporting $1.53 in EPS and $22.12 billion in revenue, up 4.7% year over year. The company maintained annualized dividend payments of $2.20 per share, yielding about 2.7%.
• Analysts hold a “Moderate Buy” consensus on Sysco, with an average price target of $89.50 versus the stock’s reported price of $82.35; ratings include nine Buys, six Holds, and one Sell.

Glenview Trust Co acquired a new position in Sysco Corporation (NYSE:SYY - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 52,985 shares of the company's stock, valued at approximately $4,428,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SYY. Nicholas Company Inc. bought a new stake in Sysco in the 4th quarter worth approximately $2,278,000. Norges Bank purchased a new stake in Sysco in the fourth quarter worth approximately $542,780,000. Banque Cantonale Vaudoise grew its position in Sysco by 301.9% during the first quarter. Banque Cantonale Vaudoise now owns 16,828 shares of the company's stock valued at $1,200,000 after acquiring an additional 12,641 shares during the last quarter. PFA Pension Forsikringsaktieselskab purchased a new position in shares of Sysco during the fourth quarter worth approximately $52,672,000. Finally, Parnassus Investments LLC raised its stake in shares of Sysco by 1.0% during the fourth quarter. Parnassus Investments LLC now owns 1,611,005 shares of the company's stock worth $118,715,000 after acquiring an additional 15,539 shares in the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Stock Performance

Shares of SYY stock opened at $82.35 on Friday. The company has a market capitalization of $39.46 billion, a P/E ratio of 22.50, a PEG ratio of 2.84 and a beta of 0.64. Sysco Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85. The company has a debt-to-equity ratio of 4.62, a quick ratio of 0.77 and a current ratio of 1.28. The stock has a 50 day moving average price of $82.98 and a two-hundred day moving average price of $80.58.

Sysco (NYSE:SYY - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The firm had revenue of $22.12 billion for the quarter, compared to analysts' expectations of $21.95 billion. During the same quarter last year, the business earned $1.48 earnings per share. The business's revenue was up 4.7% on a year-over-year basis. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. Analysts expect that Sysco Corporation will post 5.12 earnings per share for the current year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 2nd. Sysco's dividend payout ratio (DPR) is 60.11%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Citigroup upped their price objective on shares of Sysco from $82.00 to $86.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Melius Research cut shares of Sysco from a "hold" rating to a "sell" rating in a research report on Tuesday, July 7th. Weiss Ratings raised shares of Sysco from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, August 19th. Morgan Stanley upped their price target on shares of Sysco from $84.00 to $88.00 and gave the company an "equal weight" rating in a research report on Thursday, July 16th. Finally, UBS Group raised their price objective on Sysco from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Nine research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $89.50.

Insider Transactions at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 506 shares of the business's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $84.09, for a total value of $42,549.54. Following the transaction, the executive vice president owned 36,313 shares in the company, valued at approximately $3,053,560.17. The trade was a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. Over the last 90 days, insiders have sold 14,508 shares of company stock valued at $1,215,250. 0.56% of the stock is owned by company insiders.

About Sysco

Sysco Corporation NYSE: SYY is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.

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