Montrusco Bolton Investments Inc. Buys 89,602 Shares of Sysco Corporation $SYY

Montrusco Bolton Investments Inc. increased its stake in Sysco Corporation (NYSE:SYY - Free Report) by 12.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 832,875 shares of the company's stock after buying an additional 89,602 shares during the period. Sysco accounts for 0.7% of Montrusco Bolton Investments Inc.'s portfolio, making the stock its 27th largest position. Montrusco Bolton Investments Inc. owned approximately 0.17% of Sysco worth $63,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of SYY. Boston Partners raised its stake in Sysco by 24.8% in the first quarter. Boston Partners now owns 15,199,828 shares of the company's stock worth $1,139,798,000 after buying an additional 3,015,714 shares in the last quarter. Canoe Financial LP increased its stake in shares of Sysco by 29,610.4% during the first quarter. Canoe Financial LP now owns 1,431,149 shares of the company's stock valued at $107,393,000 after purchasing an additional 1,426,332 shares in the last quarter. Nuveen LLC bought a new position in shares of Sysco during the first quarter valued at approximately $85,341,000. Amundi increased its stake in shares of Sysco by 36.5% during the first quarter. Amundi now owns 3,725,508 shares of the company's stock valued at $280,941,000 after purchasing an additional 995,498 shares in the last quarter. Finally, Mackenzie Financial Corp increased its stake in shares of Sysco by 1,940.1% during the first quarter. Mackenzie Financial Corp now owns 1,016,660 shares of the company's stock valued at $76,290,000 after purchasing an additional 966,826 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Insider Activity at Sysco

In related news, EVP Greg D. Bertrand sold 40,000 shares of the firm's stock in a transaction that occurred on 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ronald L. Phillips sold 961 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $81.00, for a total transaction of $77,841.00. Following the completion of the sale, the executive vice president owned 41,501 shares in the company, valued at $3,361,581. This represents a 2.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,338 shares of company stock worth $7,439,331 in the last 90 days. 0.56% of the stock is currently owned by corporate insiders.

Sysco Trading Up 0.5%

NYSE:SYY opened at $78.44 on Monday. The company's 50 day moving average price is $80.81 and its 200-day moving average price is $76.41. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $83.47. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. The stock has a market cap of $37.53 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 2.43 and a beta of 0.82.

Sysco (NYSE:SYY - Get Free Report) last posted 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 firm had revenue of $21.14 billion for the quarter, compared to analysts' expectations of $21.01 billion. During the same quarter in the prior year, the company posted $1.39 earnings per share. The business's revenue for the quarter 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, equities research analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be issued a $0.54 dividend. The ex-dividend date is Friday, October 3rd. This represents a $2.16 annualized dividend and a yield of 2.8%. Sysco's dividend payout ratio (DPR) is currently 57.91%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SYY. Wells Fargo & Company set a $88.00 target price on shares of Sysco and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Bank of America raised their target price on shares of Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a research note on Friday, July 18th. UBS Group set a $90.00 target price on shares of Sysco in a research note on Wednesday, July 30th. Weiss Ratings downgraded shares of Sysco from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, October 8th. Finally, Morgan Stanley raised their target price 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 analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $85.85.

Sysco Company 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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