MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 8,849 Shares of Sysco Corporation $SYY

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its holdings in Sysco Corporation by 9.0%, selling 8,849 shares in the second quarter, bringing their total shares to 89,342 valued at approximately $6.77 million.
• Several institutional investors have recently adjusted their positions in Sysco, with 83.41% of the stock now owned by institutional shareholders.
• Sysco announced a quarterly dividend of $0.54 per share to be paid on October 24th, representing a dividend yield of 2.6%.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH trimmed its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 9.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 89,342 shares of the company's stock after selling 8,849 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Sysco were worth $6,767,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of SYY. NorthCrest Asset Manangement LLC lifted its holdings in shares of Sysco by 4.9% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 2,956 shares of the company's stock valued at $226,000 after purchasing an additional 139 shares during the last quarter. Golden State Wealth Management LLC raised its stake in Sysco by 48.4% during the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after buying an additional 140 shares during the last quarter. Trust Co of the South grew its position in shares of Sysco by 3.0% during the 2nd quarter. Trust Co of the South now owns 4,849 shares of the company's stock valued at $367,000 after acquiring an additional 142 shares during the period. Chicago Partners Investment Group LLC grew its position in shares of Sysco by 1.6% during the 1st quarter. Chicago Partners Investment Group LLC now owns 8,898 shares of the company's stock valued at $627,000 after acquiring an additional 143 shares during the period. Finally, One Wealth Advisors LLC boosted its holdings in Sysco by 3.3% in the 1st quarter. One Wealth Advisors LLC now owns 4,698 shares of the company's stock worth $353,000 after buying an additional 151 shares during the period. 83.41% of the stock is owned by institutional investors.

Insider Buying and Selling at Sysco

In related news, EVP Greg D. Bertrand sold 40,000 shares of the firm's stock in a transaction on Tuesday, July 22nd. The shares were 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 approximately $4,504,320. This trade represents a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ronald L. Phillips sold 961 shares of the firm's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $81.00, for a total transaction of $77,841.00. Following the sale, the executive vice president owned 41,501 shares in the company, valued at approximately $3,361,581. This represents 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 company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on SYY. Wall Street Zen downgraded shares of Sysco from a "buy" rating to a "hold" rating in a report on Saturday, September 13th. Guggenheim increased their price objective on shares of Sysco from $85.00 to $87.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Truist Financial upped their target price 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. Wells Fargo & Company set a $88.00 target price on shares of Sysco and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Finally, Morgan Stanley increased their price objective on shares of Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Sysco presently has an average rating of "Moderate Buy" and a consensus price target of $85.69.

Sysco Trading Down 0.5%

Shares of Sysco stock opened at $81.84 on Thursday. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70. The firm has a fifty day moving average price of $80.47 and a 200 day moving average price of $75.71. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $83.24. The stock has a market cap of $39.67 billion, a PE ratio of 21.94, a price-to-earnings-growth ratio of 2.55 and a beta of 0.80.

Sysco (NYSE:SYY - Get Free Report) last issued its 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. The firm had revenue of $21.14 billion during the quarter, compared to analysts' expectations of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The firm's revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.39 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Equities research analysts predict that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently declared 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. This represents a $2.16 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, October 3rd. Sysco's dividend payout ratio (DPR) is currently 57.91%.

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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