Shayne & Jacobs LLC Sells 162,181 Shares of Sysco Corporation $SYY

Key Points

• Shayne & Jacobs LLC significantly reduced its stake in Sysco Corporation by 48.8%, selling 162,181 shares and retaining about 170,304 shares, worth approximately $12.9 million.
• Several hedge funds have increased their stakes in Sysco, including Boyd Watterson Asset Management LLC, which raised its position by 106.4%, indicating strong interest from institutional investors.
• Sysco announced a quarterly dividend of $0.54 per share, representing an annualized yield of 2.8%, with the ex-dividend date set for October 3rd.

Shayne & Jacobs LLC decreased its stake in Sysco Corporation (NYSE:SYY - Free Report) by 48.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 170,304 shares of the company's stock after selling 162,181 shares during the quarter. Sysco accounts for about 4.3% of Shayne & Jacobs LLC's portfolio, making the stock its 5th largest position. Shayne & Jacobs LLC's holdings in Sysco were worth $12,899,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Boyd Watterson Asset Management LLC OH lifted its stake in Sysco by 106.4% in the first quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company's stock valued at $236,000 after buying an additional 1,622 shares during the period. Gradient Investments LLC raised its position in shares of Sysco by 9.2% during the second quarter. Gradient Investments LLC now owns 189,169 shares of the company's stock worth $14,328,000 after purchasing an additional 15,906 shares during the period. Beacon Financial Group raised its position in shares of Sysco by 55.5% during the second quarter. Beacon Financial Group now owns 9,955 shares of the company's stock worth $754,000 after purchasing an additional 3,554 shares during the period. Shell Asset Management Co. raised its position in shares of Sysco by 31.6% during the second quarter. Shell Asset Management Co. now owns 19,218 shares of the company's stock worth $1,456,000 after purchasing an additional 4,620 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Sysco by 2.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 223,510 shares of the company's stock worth $16,772,000 after purchasing an additional 4,932 shares during the period. Institutional investors and hedge funds own 83.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. UBS Group set a $90.00 price target on Sysco in a research report on Wednesday, July 30th. Truist Financial raised their price target on Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Morgan Stanley raised their price target on Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Wall Street Zen raised Sysco from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Wells Fargo & Company set a $88.00 target price on Sysco and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $85.85.

Insider Buying and Selling

In related news, EVP Greg D. Bertrand sold 40,000 shares of the business's stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 56,304 shares of the company's stock, valued at approximately $4,504,320. The trade was a 41.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ronald L. Phillips sold 37,606 shares of the business's stock in a transaction that occurred on 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 in the company, valued at $2,449,035. The trade was a 55.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,338 shares of company stock worth $7,439,331 over the last three months. 0.54% of the stock is owned by insiders.

Sysco Stock Up 0.5%

Shares of Sysco stock opened at $78.44 on Friday. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. The business's 50 day simple moving average is $80.81 and its 200 day simple moving average is $76.37. The firm has a market cap of $37.53 billion, a PE ratio of 21.03, a P/E/G ratio of 2.42 and a beta of 0.82. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $83.47.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.09. The firm had revenue of $21.14 billion during the quarter, compared to the consensus estimate of $21.01 billion. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The business's revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company earned $1.39 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, analysts predict that Sysco Corporation will post 4.58 earnings per share for the current fiscal 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 issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.8%. Sysco's payout ratio is presently 57.91%.

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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