Sysco Corporation $SYY Shares Sold by Glenview Trust co

Key Points

• Glenview Trust Co reduced its stake in Sysco Corporation by 1.2%, selling 3,733 shares, and now owns approximately 0.06% of the company, valued at around $23.15 million.
• Sysco's stock is currently experiencing a slight decline of 0.8%, with an opening price of $80.86 and a market capitalization of $39.20 billion.
• The company recently announced a quarterly dividend of $0.54 per share, with an expected annualized dividend of $2.16, representing a yield of 2.7%.

Glenview Trust co trimmed its position in Sysco Corporation (NYSE:SYY - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 308,529 shares of the company's stock after selling 3,733 shares during the period. Glenview Trust co owned about 0.06% of Sysco worth $23,152,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Measured Risk Portfolios Inc. acquired a new stake in shares of Sysco during the fourth quarter worth about $43,000. Obermeyer Wealth Partners raised its stake in shares of Sysco by 1.2% in the 4th quarter. Obermeyer Wealth Partners now owns 27,544 shares of the company's stock valued at $2,106,000 after purchasing an additional 323 shares in the last quarter. NorthRock Partners LLC grew its position in shares of Sysco by 147.6% during the 4th quarter. NorthRock Partners LLC now owns 6,954 shares of the company's stock valued at $532,000 after buying an additional 4,146 shares during the last quarter. Nomura Holdings Inc. boosted its holdings in shares of Sysco by 95.4% in the fourth quarter. Nomura Holdings Inc. now owns 35,106 shares of the company's stock valued at $2,684,000 after acquiring an additional 17,140 shares in the last quarter. Finally, Mufg Securities Americas Inc. acquired a new stake in Sysco during the fourth quarter valued at approximately $554,000. Hedge funds and other institutional investors own 83.41% of the company's stock.

Insider Activity at Sysco

In related news, EVP Ronald L. Phillips sold 961 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $81.00, for a total value of $77,841.00. Following the completion of the transaction, the executive vice president directly owned 41,501 shares in the company, valued at approximately $3,361,581. This represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Greg D. Bertrand sold 40,000 shares of the 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 in the company, valued at approximately $4,504,320. This trade represents a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,338 shares of company stock valued at $7,439,331. Insiders own 0.54% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. Guggenheim lifted their price target 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. Morgan Stanley lifted their price target 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. Wells Fargo & Company set a $88.00 target price on shares of Sysco and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Finally, Wall Street Zen cut shares of Sysco from a "buy" rating to a "hold" rating in a research report on Saturday. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.69.

Sysco Stock Up 0.4%

Shares of NYSE SYY traded up $0.33 during trading on Friday, reaching $81.37. The company had a trading volume of 2,415,722 shares, compared to its average volume of 2,483,940. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $83.17. The stock has a market cap of $39.44 billion, a PE ratio of 21.81, a P/E/G ratio of 2.51 and a beta of 0.80. The business's 50-day moving average is $79.70 and its 200 day moving average is $75.35. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating 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 return on equity of 109.52% and a net margin of 2.25%.The firm's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, equities analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Shareholders 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 2.7%. Sysco's dividend payout ratio is presently 57.91%.

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.