Sysco Corporation $SYY Position Cut by Glenview Trust Co

Key Points

• Glenview Trust Co cut its Sysco stake by 44.2% in the fourth quarter, selling 62,938 shares and leaving it with 79,336 shares valued at about $5.85 million.
• Sysco’s latest earnings missed estimates slightly, with quarterly EPS of $0.94 versus $0.95 expected and revenue of $20.52 billion versus $20.56 billion expected, though sales still rose 4.7% year over year.
• The company raised its quarterly dividend to $0.55 per share from $0.54, lifting the annualized payout to $2.20 and the yield to about 2.9%.

Glenview Trust Co trimmed its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 44.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,336 shares of the company's stock after selling 62,938 shares during the quarter. Glenview Trust Co's holdings in Sysco were worth $5,846,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Montag A & Associates Inc. grew its holdings in Sysco by 1.4% in the 4th quarter. Montag A & Associates Inc. now owns 8,743 shares of the company's stock worth $644,000 after buying an additional 123 shares in the last quarter. United Community Bank grew its holdings in Sysco by 11.4% in the 4th quarter. United Community Bank now owns 1,224 shares of the company's stock worth $90,000 after buying an additional 125 shares in the last quarter. Octavia Wealth Advisors LLC grew its holdings in Sysco by 4.6% in the 4th quarter. Octavia Wealth Advisors LLC now owns 3,231 shares of the company's stock worth $237,000 after buying an additional 141 shares in the last quarter. Diversify Wealth Management LLC grew its holdings in Sysco by 1.6% in the 4th quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company's stock worth $698,000 after buying an additional 143 shares in the last quarter. Finally, Capital Investment Advisory Services LLC grew its holdings in Sysco by 3.2% in the 3rd quarter. Capital Investment Advisory Services LLC now owns 4,942 shares of the company's stock worth $407,000 after buying an additional 151 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SYY shares. Citigroup increased their price objective on Sysco from $78.00 to $80.00 and gave the stock a "neutral" rating in a report on Wednesday, April 29th. Barclays decreased their price objective on Sysco from $92.00 to $86.00 and set an "overweight" rating for the company in a report on Wednesday, April 29th. Sanford C. Bernstein decreased their price objective on Sysco from $90.00 to $85.00 and set a "market perform" rating for the company in a report on Wednesday, April 29th. Piper Sandler decreased their price target on Sysco from $83.00 to $77.00 and set a "neutral" rating for the company in a research note on Tuesday, April 7th. Finally, Truist Financial increased their price target on Sysco from $90.00 to $94.00 and gave the company a "buy" rating in a research note on Wednesday, January 28th. Nine equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $88.15.

Sysco Stock Performance

Shares of NYSE SYY opened at $76.30 on Tuesday. The stock has a fifty day moving average price of $75.85 and a two-hundred day moving average price of $78.08. The company has a debt-to-equity ratio of 5.58, a quick ratio of 0.80 and a current ratio of 1.33. The firm has a market cap of $36.49 billion, a P/E ratio of 21.14, a PEG ratio of 3.12 and a beta of 0.66. Sysco Corporation has a 1 year low of $68.19 and a 1 year high of $91.85.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). The company had revenue of $20.52 billion for the quarter, compared to the consensus estimate of $20.56 billion. Sysco had a return on equity of 103.57% and a net margin of 2.08%.The business's revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.96 earnings per share. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. Research analysts forecast that Sysco Corporation will post 4.59 EPS for the current fiscal year.

Sysco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Thursday, July 2nd will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.20 annualized dividend and a dividend yield of 2.9%. This is a boost from Sysco's previous quarterly dividend of $0.54. Sysco's dividend payout ratio is 59.83%.

Sysco Company Profile

Sysco Corporation NYSE: SYY is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.

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