Sysco Corporation $SYY Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its stake in Sysco Corporation by 11.6%, now holding 187,672 shares valued at approximately $14.2 million after selling 24,643 shares in the second quarter.
• Sysco reported earnings per share (EPS) of $1.48 for the last quarter, exceeding expectations by $0.09, with a 2.8% year-over-year revenue increase totaling $21.14 billion.
• The company announced a quarterly dividend of $0.54 per share, to be paid on October 24th, representing an annualized dividend of $2.16 with a yield of 2.7%.

TD Asset Management Inc cut its position in Sysco Corporation (NYSE:SYY - Free Report) by 11.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 187,672 shares of the company's stock after selling 24,643 shares during the quarter. TD Asset Management Inc's holdings in Sysco were worth $14,214,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Chung Wu Investment Group LLC acquired a new stake in shares of Sysco in the 2nd quarter valued at about $30,000. Golden State Wealth Management LLC lifted its position in Sysco by 48.4% during the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock worth $32,000 after acquiring an additional 140 shares during the period. N.E.W. Advisory Services LLC acquired a new stake in Sysco during the 1st quarter worth approximately $33,000. 1248 Management LLC acquired a new stake in Sysco during the 1st quarter worth approximately $35,000. Finally, Cheviot Value Management LLC acquired a new stake in Sysco during the 1st quarter worth approximately $34,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Performance

Shares of SYY stock opened at $79.92 on Friday. The stock has a fifty day moving average price of $80.73 and a 200 day moving average price of $76.55. The stock has a market cap of $38.24 billion, a PE ratio of 21.42, a P/E/G ratio of 2.47 and a beta of 0.82. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $83.47. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data 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 return on equity of 109.52% and a net margin of 2.25%.Sysco's revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.39 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Sell-side analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 2.7%. Sysco's payout ratio is currently 57.91%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SYY. Barclays increased their price objective on Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Guggenheim raised their price target on Sysco from $87.00 to $89.00 and gave the company a "buy" rating in a report on Monday, October 6th. Truist Financial raised their price target on Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Weiss Ratings cut Sysco from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. Finally, Bank of America raised their price target on Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a report on Friday, July 18th. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $86.46.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 37,606 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the completion of the transaction, the executive vice president owned 30,235 shares of the company's stock, valued at approximately $2,449,035. This trade represents a 55.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Greg D. Bertrand sold 40,000 shares of the firm's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total value of $3,200,000.00. Following the transaction, the executive vice president directly owned 56,304 shares of the company's stock, valued at $4,504,320. The trade was a 41.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,338 shares of company stock valued at $7,439,331 in the last three months. 0.56% of the stock is currently owned by company 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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