Sysco Corporation $SYY Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management cut its Sysco stake by 15.1% in the fourth quarter, selling 33,226 shares and leaving it with 187,175 shares worth about $13.8 million.
• Several analysts adjusted their views on Sysco, with price targets generally moving lower; the stock currently has a Moderate Buy consensus and an average price target of $88.15.
• Sysco recently reported quarterly EPS of $0.94, just below estimates, while revenue rose 4.7% year over year to $20.52 billion. The company also raised its quarterly dividend to $0.55 per share.

TD Asset Management Inc lowered its stake in Sysco Corporation (NYSE:SYY - Free Report) by 15.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 187,175 shares of the company's stock after selling 33,226 shares during the period. TD Asset Management Inc's holdings in Sysco were worth $13,793,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Teacher Retirement System of Texas grew its holdings in Sysco by 8.0% during the fourth quarter. Teacher Retirement System of Texas now owns 370,571 shares of the company's stock worth $27,307,000 after acquiring an additional 27,510 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Sysco by 9.5% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 412,423 shares of the company's stock worth $30,445,000 after acquiring an additional 35,647 shares during the period. Nicholas Company Inc. acquired a new position in Sysco during the fourth quarter worth $2,278,000. Krilogy Financial LLC grew its holdings in Sysco by 65.6% during the third quarter. Krilogy Financial LLC now owns 42,435 shares of the company's stock worth $3,494,000 after acquiring an additional 16,807 shares during the period. Finally, Madison Asset Management LLC acquired a new position in Sysco during the third quarter worth $1,526,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SYY shares. Wells Fargo & Company upped their price objective on Sysco from $92.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, February 19th. Barclays dropped their price objective on Sysco from $92.00 to $86.00 and set an "overweight" rating on the stock in a report on Wednesday, April 29th. Piper Sandler dropped their price objective on Sysco from $83.00 to $77.00 and set a "neutral" rating on the stock in a report on Tuesday, April 7th. Guggenheim dropped their price objective on Sysco from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Thursday, April 2nd. Finally, Sanford C. Bernstein lowered their target price on Sysco from $90.00 to $85.00 and set a "market perform" rating on the stock in a report on Wednesday, April 29th. Nine research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $88.15.

Sysco Stock Up 0.2%

Shares of NYSE:SYY opened at $76.48 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 5.58. Sysco Corporation has a 52-week low of $68.19 and a 52-week high of $91.85. The stock's fifty day simple moving average is $74.33 and its 200-day simple moving average is $78.12. The company has a market capitalization of $36.57 billion, a P/E ratio of 21.18, a P/E/G ratio of 3.12 and a beta of 0.65.

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

Sysco Increases Dividend

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

Insiders Place Their Bets

In other Sysco news, Director John M. Hinshaw bought 13,304 shares of Sysco stock in a transaction that occurred on Tuesday, May 26th. The shares were purchased at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the completion of the transaction, the director owned 40,200 shares of the company's stock, valued at $3,021,834. This represents a 49.46% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.56% of the company's stock.

About Sysco

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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