Sysco Corporation $SYY Shares Sold by Hourglass Capital LLC

Key Points

• Hourglass Capital LLC reduced its stake in Sysco Corporation by 69.4%, selling 50,125 shares and holding 22,120 shares valued at $1,675,000.
• Several other institutional investors increased their holdings in Sysco during the second quarter, with Generali Asset Management SPA SGR boosting its stake by an astonishing 16,147.7%.
• Sysco recently announced a quarterly dividend of $0.54 per share, resulting in an annual yield of 2.7%, with a dividend payout ratio of 57.91%.

Hourglass Capital LLC lowered its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 69.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,120 shares of the company's stock after selling 50,125 shares during the period. Hourglass Capital LLC's holdings in Sysco were worth $1,675,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Latitude Advisors LLC grew its stake in shares of Sysco by 12.8% during the second quarter. Latitude Advisors LLC now owns 3,447 shares of the company's stock worth $261,000 after purchasing an additional 392 shares in the last quarter. WealthPlan Investment Management LLC grew its stake in shares of Sysco by 15.0% during the second quarter. WealthPlan Investment Management LLC now owns 3,163 shares of the company's stock worth $240,000 after purchasing an additional 412 shares in the last quarter. Bridges Investment Management Inc. boosted its stake in Sysco by 14.5% in the second quarter. Bridges Investment Management Inc. now owns 26,852 shares of the company's stock valued at $2,034,000 after acquiring an additional 3,404 shares in the last quarter. Mutual Advisors LLC boosted its stake in Sysco by 22.4% in the second quarter. Mutual Advisors LLC now owns 10,515 shares of the company's stock valued at $844,000 after acquiring an additional 1,925 shares in the last quarter. Finally, Generali Asset Management SPA SGR boosted its stake in Sysco by 16,147.7% in the second quarter. Generali Asset Management SPA SGR now owns 21,447 shares of the company's stock valued at $1,624,000 after acquiring an additional 21,315 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.

Insider Activity at Sysco

In other news, EVP Greg D. Bertrand sold 40,000 shares of the 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 directly owned 56,304 shares in the company, valued at $4,504,320. This represents a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ronald L. Phillips sold 961 shares of the 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 owned 41,501 shares in the company, valued at $3,361,581. This represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,338 shares of company stock worth $7,439,331 over the last quarter. Company insiders own 0.56% of the company's stock.

Analyst Ratings Changes

SYY has been the subject of several research analyst reports. Citigroup upped their price objective on shares of Sysco from $84.00 to $86.00 and gave the company a "neutral" rating in a research note on Wednesday. Guggenheim upped their price objective on shares of Sysco from $87.00 to $89.00 and gave the company a "buy" rating in a research note on Monday, October 6th. Morgan Stanley upped their target price on shares of Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Wall Street Zen raised shares of Sysco from a "hold" rating to a "buy" rating in a report on Saturday, October 11th. Finally, UBS Group set a $90.00 target price on shares of Sysco in a report on Wednesday, July 30th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $86.46.

Sysco Trading Down 0.1%

NYSE SYY opened at $80.10 on Thursday. The stock has a market capitalization of $38.33 billion, a P/E ratio of 21.47, a P/E/G ratio of 2.47 and a beta of 0.82. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $83.47. The firm has a 50-day moving average price of $80.78 and a 200 day moving average price of $76.49. 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 posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.09. The firm 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 revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.39 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Equities research analysts expect that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 3rd will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, October 3rd. Sysco's dividend payout ratio is presently 57.91%.

Sysco 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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