Sysco Corporation $SYY Holdings Increased by Boston Trust Walden Corp

Key Points

• Boston Trust Walden Corp increased its stake in Sysco Corporation shares by 20.7% during Q2 2023, holding 1,118,163 shares valued at approximately $84.69 million.
• During its recent earnings announcement, Sysco reported an EPS of $1.48, exceeding expectations, and a revenue of $21.14 billion, reflecting a 2.8% year-over-year increase.
• Sysco declared a quarterly dividend of $0.54 per share, with an annualized dividend of $2.16, resulting in a dividend yield of 2.8% for investors of record.

Boston Trust Walden Corp grew its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 20.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,118,163 shares of the company's stock after buying an additional 191,568 shares during the quarter. Boston Trust Walden Corp owned about 0.23% of Sysco worth $84,690,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Boyd Watterson Asset Management LLC OH raised its position in shares of Sysco by 106.4% during the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company's stock worth $236,000 after buying an additional 1,622 shares in the last quarter. Gradient Investments LLC grew its stake in shares of Sysco by 9.2% in the 2nd 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 last quarter. Beacon Financial Group grew its stake in shares of Sysco by 55.5% in the 2nd 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 last quarter. Shell Asset Management Co. grew its stake in shares of Sysco by 31.6% in the 2nd 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 last quarter. Finally, KLP Kapitalforvaltning AS grew its stake in shares of Sysco by 5.8% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 448,600 shares of the company's stock worth $33,977,000 after purchasing an additional 24,500 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.

Sysco Stock Performance

Sysco stock opened at $78.21 on Tuesday. The firm's 50 day simple moving average is $80.79 and its 200-day simple moving average is $76.44. The company has a market cap of $37.42 billion, a P/E ratio of 20.97, a price-to-earnings-growth ratio of 2.43 and a beta of 0.82. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two 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 EPS for the quarter, topping the consensus estimate of $1.39 by $0.09. The business 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 quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company posted $1.39 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, equities research analysts predict that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The business also recently declared 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. This represents a $2.16 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, October 3rd. Sysco's dividend payout ratio (DPR) is currently 57.91%.

Analyst Ratings Changes

SYY has been the topic of several recent research reports. UBS Group set a $90.00 price objective on shares of Sysco in a research note on Wednesday, July 30th. Wells Fargo & Company set a $88.00 price objective on shares of Sysco and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Barclays lifted their price objective on shares of Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Weiss Ratings cut shares of Sysco from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, October 8th. Finally, Morgan Stanley lifted their price objective 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. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $85.85.

Insider Activity at Sysco

In related news, EVP Ronald L. Phillips sold 961 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 41,501 shares in the company, valued at approximately $3,361,581. This trade represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Greg D. Bertrand sold 40,000 shares of the firm'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 sale, the executive vice president owned 56,304 shares of the company's stock, valued at approximately $4,504,320. This represents a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,338 shares of company stock valued at $7,439,331. 0.56% of the stock is currently owned by corporate insiders.

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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