US Bancorp DE Has $19.17 Million Stock Position in Sysco Corporation $SYY

Key Points

• US Bancorp DE reduced its position in Sysco Corporation by 2.8%, holding 253,048 shares worth approximately $19.17 million as of the latest reporting period.
• Multiple institutional investors have increased their stakes in Sysco recently, contributing to a total institutional ownership of 83.41% in the company.
• Analysts generally view Sysco positively, with ten providing a "Buy" rating and a consensus price target of $85.85, while Barclays raised their target price to $82, signaling confidence in the company's performance.

US Bancorp DE decreased its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 253,048 shares of the company's stock after selling 7,360 shares during the period. US Bancorp DE owned 0.05% of Sysco worth $19,166,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Boyd Watterson Asset Management LLC OH boosted its position in Sysco by 106.4% during the first quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company's stock valued at $236,000 after purchasing an additional 1,622 shares during the last quarter. Gradient Investments LLC raised its holdings in Sysco by 9.2% during the second quarter. Gradient Investments LLC now owns 189,169 shares of the company's stock valued at $14,328,000 after buying an additional 15,906 shares in the last quarter. Beacon Financial Group raised its holdings in Sysco by 55.5% during the second quarter. Beacon Financial Group now owns 9,955 shares of the company's stock valued at $754,000 after buying an additional 3,554 shares in the last quarter. Shell Asset Management Co. raised its holdings in Sysco by 31.6% during the second quarter. Shell Asset Management Co. now owns 19,218 shares of the company's stock valued at $1,456,000 after buying an additional 4,620 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Sysco by 2.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 223,510 shares of the company's stock valued at $16,772,000 after buying an additional 4,932 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.

Insider Activity at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 40,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 56,304 shares of the company's stock, valued at $4,504,320. This represents a 41.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ronald L. Phillips sold 37,606 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total value of $3,046,086.00. Following the completion of the transaction, the executive vice president directly owned 30,235 shares of the company's stock, valued at approximately $2,449,035. This trade represents a 55.43% decrease in their position. 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.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SYY shares. Barclays raised their target price on Sysco from $77.00 to $82.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Wells Fargo & Company set a $88.00 target price on Sysco and gave the company an "overweight" rating in a report on Tuesday, July 29th. UBS Group set a $90.00 target price on Sysco in a report on Wednesday, July 30th. Weiss Ratings lowered Sysco from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday. Finally, Morgan Stanley lifted their price objective on Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Sysco has a consensus rating of "Moderate Buy" and an average price target of $85.85.

Sysco Price Performance

Shares of Sysco stock opened at $78.44 on Friday. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $83.47. The firm has a fifty day moving average price of $80.81 and a two-hundred day moving average price of $76.37. The company has a market cap of $37.53 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 2.42 and a beta of 0.82.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.09. The firm had revenue of $21.14 billion during the quarter, compared to the consensus estimate of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The business's revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Analysts expect that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 3rd will be issued a $0.54 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.16 annualized dividend and a yield of 2.8%. Sysco's dividend payout ratio is 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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