Sysco Corporation $SYY Shares Sold by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada reduced its Sysco stake by 26.6% in the second quarter, selling 13,755 shares and retaining 37,892 shares valued at approximately $3.15 million. Institutional investors collectively own 83.41% of Sysco.
• Sysco reported quarterly revenue of $22.12 billion and earnings of $1.53 per share, exceeding analyst estimates; revenue increased 4.7% year over year. Analysts expect a “Moderate Buy” consensus rating with an average price target of $89.50.
• The company declared a quarterly dividend of $0.55 per share, equivalent to $2.20 annually and a 2.7% yield, payable October 23 to shareholders of record October 2.

TD Waterhouse Canada Inc. reduced its stake in Sysco Corporation (NYSE:SYY - Free Report) by 26.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,892 shares of the company's stock after selling 13,755 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Sysco were worth $3,151,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Lloyd Advisory Services LLC. purchased a new position in Sysco in the 4th quarter valued at $25,000. Motiv8 Investments LLC purchased a new position in Sysco during the 4th quarter worth $25,000. Sunbelt Securities Inc. lifted its stake in shares of Sysco by 87.6% in the 1st quarter. Sunbelt Securities Inc. now owns 364 shares of the company's stock worth $26,000 after acquiring an additional 170 shares during the period. Bard Associates Inc. acquired a new stake in shares of Sysco in the 4th quarter worth $27,000. Finally, Elyxium Wealth LLC purchased a new stake in shares of Sysco in the fourth quarter valued at about $28,000. Hedge funds and other institutional investors own 83.41% of the company's stock.

Insider Transactions at Sysco

In related news, EVP Ronald Phillips sold 7,350 shares of Sysco stock in a transaction on Friday, August 21st. The stock was sold at an average price of $83.61, for a total transaction of $614,533.50. Following the completion of the transaction, the executive vice president directly owned 38,650 shares of the company's stock, valued at approximately $3,231,526.50. The trade was a 15.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 14,508 shares of company stock worth $1,215,250 over the last ninety days. Insiders own 0.56% of the company's stock.

Sysco Stock Up 0.1%

Shares of NYSE SYY opened at $80.10 on Tuesday. The stock has a market capitalization of $38.38 billion, a price-to-earnings ratio of 21.89, a price-to-earnings-growth ratio of 2.73 and a beta of 0.63. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85. The firm has a 50-day moving average price of $83.07 and a 200 day moving average price of $80.19. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62.

Sysco (NYSE:SYY - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.02. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The company had revenue of $22.12 billion for the quarter, compared to analyst estimates of $21.95 billion. During the same period in the prior year, the business posted $1.48 earnings per share. The firm's revenue for the quarter was up 4.7% compared to the same quarter last year. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. Equities research analysts anticipate that Sysco Corporation will post 5.12 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 2nd will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 2nd. Sysco's dividend payout ratio (DPR) is presently 60.11%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SYY. Citigroup boosted their price target on shares of Sysco from $82.00 to $86.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. Piper Sandler lifted their price objective on Sysco from $77.00 to $84.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. UBS Group boosted their target price on Sysco from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Morgan Stanley increased their target price on Sysco from $84.00 to $88.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 16th. Finally, Melius Research cut Sysco from a "hold" rating to a "sell" rating in a report on Tuesday, July 7th. Nine equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Sysco presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.50.

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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