Greenleaf Trust Sells 8,682 Shares of Sysco Corporation $SYY

Key Points

• Greenleaf Trust reduced its holdings in Sysco Corporation by 49.3%, selling 8,682 shares, leaving them with a total of 8,913 shares valued at $675,000.
• Sysco reported better-than-expected earnings, with a Q2 EPS of $1.48, exceeding analyst estimates by $0.09, and a revenue of $21.14 billion.
• The company declared a quarterly dividend of $0.54, payable on October 24, representing an annualized yield of 2.6% and a payout ratio of 57.91%.

Greenleaf Trust cut its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 49.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,913 shares of the company's stock after selling 8,682 shares during the quarter. Greenleaf Trust's holdings in Sysco were worth $675,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SYY. Merit Financial Group LLC lifted its position in Sysco by 23.7% during the 1st quarter. Merit Financial Group LLC now owns 39,696 shares of the company's stock worth $2,979,000 after buying an additional 7,612 shares in the last quarter. Sendero Wealth Management LLC lifted its position in Sysco by 150.3% during the 1st quarter. Sendero Wealth Management LLC now owns 8,761 shares of the company's stock worth $657,000 after buying an additional 5,261 shares in the last quarter. Gilman Hill Asset Management LLC lifted its position in Sysco by 20.6% during the 1st quarter. Gilman Hill Asset Management LLC now owns 64,759 shares of the company's stock worth $4,860,000 after buying an additional 11,062 shares in the last quarter. Lmcg Investments LLC lifted its position in Sysco by 55.3% during the 1st quarter. Lmcg Investments LLC now owns 74,507 shares of the company's stock worth $5,591,000 after buying an additional 26,531 shares in the last quarter. Finally, Charles Schwab Trust Co lifted its position in Sysco by 10.5% during the 1st quarter. Charles Schwab Trust Co now owns 4,200 shares of the company's stock worth $315,000 after buying an additional 400 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Sysco Stock Up 0.7%

Shares of SYY opened at $83.38 on Friday. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $83.47. The firm has a market cap of $40.42 billion, a P/E ratio of 22.35, a price-to-earnings-growth ratio of 2.57 and a beta of 0.82. The firm's 50-day simple moving average is $80.82 and its 200 day simple moving average is $76.04. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21.

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. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The business had revenue of $21.14 billion for the quarter, compared to analyst estimates of $21.01 billion. During the same quarter in the prior year, the business earned $1.39 EPS. Sysco's quarterly 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, analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wall Street Zen cut shares of Sysco from a "buy" rating to a "hold" rating in a research report on Saturday, September 13th. Wells Fargo & Company set a $88.00 price objective on shares of Sysco and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Barclays boosted their price objective on shares of Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Truist Financial boosted their price objective on shares of Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Finally, Bank of America boosted their price objective on shares of Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $85.69.

Insider Transactions at Sysco

In related news, EVP Greg D. Bertrand sold 40,000 shares of the company's stock in a transaction dated 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 owned 56,304 shares in the company, valued at approximately $4,504,320. This represents a 41.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ronald L. Phillips sold 37,606 shares of the business's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the completion of the sale, the executive vice president directly owned 30,235 shares of the company's stock, valued at $2,449,035. This represents a 55.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,338 shares of company stock worth $7,439,331. 0.54% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.