Lbp Am Sa Reduces Holdings in Sysco Corporation $SYY

Key Points

• Lbp Am Sa significantly reduced its stake in Sysco Corporation by 83.9%, selling over 57,000 shares, and ending up with holdings worth $835,000.
• Several hedge funds have recently adjusted their positions in Sysco, with notable increases in holdings from Charles Schwab Trust Co and others, while approximately 83.41% of Sysco stocks are owned by institutional investors.
• Sysco's stock received multiple upgrades from analysts, with target prices raised to between $90.00 and $93.00, indicating a positive outlook for the company's performance.

Lbp Am Sa lessened its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 83.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,029 shares of the company's stock after selling 57,658 shares during the period. Lbp Am Sa's holdings in Sysco were worth $835,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SYY. Charles Schwab Trust Co lifted its stake in Sysco by 10.5% in the 1st quarter. Charles Schwab Trust Co now owns 4,200 shares of the company's stock valued at $315,000 after buying an additional 400 shares in the last quarter. Curat Global LLC acquired a new position in shares of Sysco in the first quarter worth $535,000. Harrington Investments INC lifted its position in shares of Sysco by 3.1% in the first quarter. Harrington Investments INC now owns 24,242 shares of the company's stock valued at $1,819,000 after acquiring an additional 738 shares in the last quarter. Gateway Investment Advisers LLC boosted its stake in shares of Sysco by 31.1% during the first quarter. Gateway Investment Advisers LLC now owns 20,765 shares of the company's stock valued at $1,558,000 after acquiring an additional 4,920 shares during the last quarter. Finally, Persium Advisors LLC increased its position in Sysco by 7.5% during the 1st quarter. Persium Advisors LLC now owns 7,065 shares of the company's stock worth $530,000 after purchasing an additional 492 shares in the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SYY. Truist Financial upped their target price on shares of Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Bank of America raised their target price on shares of Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Morgan Stanley lifted their target price on shares of Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Weiss Ratings reissued a "buy (b-)" rating on shares of Sysco in a research note on Saturday, September 27th. Finally, UBS Group set a $90.00 price objective on Sysco in a research report on Wednesday, July 30th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Sysco currently has an average rating of "Moderate Buy" and an average target price of $85.69.

Sysco Price Performance

SYY stock opened at $82.21 on Friday. The company has a market cap of $39.85 billion, a PE ratio of 22.04, a price-to-earnings-growth ratio of 2.58 and a beta of 0.82. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75. The stock has a 50-day moving average price of $80.86 and a two-hundred day moving average price of $76.09. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $83.47.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings data 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. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The business had revenue of $21.14 billion for the quarter, compared to analyst estimates of $21.01 billion. During the same period in the previous year, the company posted $1.39 EPS. The company'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. As a group, research analysts predict that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be given a $0.54 dividend. The ex-dividend date of this dividend 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%.

Insiders Place Their Bets

In other Sysco news, EVP Ronald L. Phillips sold 37,606 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total value of $3,046,086.00. Following the transaction, the executive vice president directly owned 30,235 shares of the company's stock, valued at $2,449,035. This trade represents a 55.43% decrease in their ownership of the stock. 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 company's stock in a transaction dated 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 completion of the sale, 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 92,338 shares of company stock worth $7,439,331. Insiders own 0.54% of the company's stock.

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.

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