Janney Montgomery Scott LLC Sells 28,357 Shares of Sysco Corporation $SYY

Key Points

• Janney Montgomery Scott LLC reduced its holdings in Sysco Corporation by 11.2%, selling 28,357 shares and leaving them with 224,328 shares valued at approximately $17 million.
• Insider sales included EVP Greg D. Bertrand, who sold 40,000 shares for $3.2 million, resulting in a 41.54% decrease in his position.
• Sysco recently announced a quarterly dividend of $0.54 per share, representing a 2.6% yield, with the payment date set for October 24th.

Janney Montgomery Scott LLC cut its position in Sysco Corporation (NYSE:SYY - Free Report) by 11.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 224,328 shares of the company's stock after selling 28,357 shares during the quarter. Janney Montgomery Scott LLC's holdings in Sysco were worth $16,991,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Invesco Ltd. boosted its stake in Sysco by 1.0% in the 1st quarter. Invesco Ltd. now owns 17,070,502 shares of the company's stock valued at $1,280,970,000 after purchasing an additional 162,961 shares during the period. Boston Partners raised its holdings in Sysco by 24.8% in the 1st quarter. Boston Partners now owns 15,199,828 shares of the company's stock valued at $1,139,798,000 after acquiring an additional 3,015,714 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in Sysco by 2.0% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 7,353,551 shares of the company's stock valued at $551,810,000 after acquiring an additional 146,573 shares in the last quarter. Northern Trust Corp raised its holdings in Sysco by 2.6% in the 1st quarter. Northern Trust Corp now owns 5,828,930 shares of the company's stock valued at $437,403,000 after acquiring an additional 145,477 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Sysco by 8.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,087,250 shares of the company's stock valued at $381,747,000 after acquiring an additional 391,614 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Greg D. Bertrand sold 40,000 shares of the company's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the sale, the executive vice president owned 56,304 shares in the company, valued at $4,504,320. This represents a 41.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ronald L. Phillips sold 961 shares of the company's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $81.00, for a total value of $77,841.00. Following the sale, the executive vice president owned 41,501 shares in the company, valued at approximately $3,361,581. The trade was a 2.26% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,338 shares of company stock worth $7,439,331. 0.54% of the stock is owned by corporate insiders.

Sysco Trading Up 0.7%

Shares of SYY stock opened at $83.38 on Friday. The stock has a market cap of $40.42 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 2.57 and a beta of 0.82. The stock has a 50-day moving average of $80.82 and a 200-day moving average of $76.04. 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 Corporation has a 1-year low of $67.12 and a 1-year high of $83.47.

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

Sysco Announces Dividend

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

Analyst Ratings Changes

Several analysts recently weighed in on the company. Morgan Stanley upped their price objective on Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Guggenheim upped their price objective on Sysco from $85.00 to $87.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. UBS Group set a $90.00 price objective on Sysco in a research report on Wednesday, July 30th. Wells Fargo & Company set a $88.00 price objective on Sysco and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Finally, Truist Financial upped their target price on Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Sysco has an average 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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