3,600 Shares in Sysco Corporation $SYY Acquired by Westbourne Investments Inc.

Key Points

• Westbourne Investments Inc. invested approximately $273,000 in Sysco Corporation by purchasing 3,600 shares during the second quarter.
• Multiple institutional investors, including Fiduciary Alliance LLC and Beacon Financial Group, significantly increased their holdings in Sysco during the same period, with 83.41% of the stock now owned by institutional investors and hedge funds.
• Sysco announced a quarterly dividend of $0.54 per share, with a yield of 2.6%, which will be paid on October 24th to investors of record on October 3rd.

Westbourne Investments Inc. purchased a new stake in shares of Sysco Corporation (NYSE:SYY - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,600 shares of the company's stock, valued at approximately $273,000.

Several other institutional investors have also added to or reduced their stakes in SYY. Royal Bank of Canada boosted its position in Sysco by 46.1% during the fourth quarter. Royal Bank of Canada now owns 1,434,792 shares of the company's stock valued at $109,705,000 after buying an additional 452,531 shares during the period. Snowden Capital Advisors LLC boosted its position in Sysco by 10.5% during the fourth quarter. Snowden Capital Advisors LLC now owns 4,255 shares of the company's stock valued at $325,000 after buying an additional 406 shares during the period. Toronto Dominion Bank boosted its position in Sysco by 43.1% during the fourth quarter. Toronto Dominion Bank now owns 265,924 shares of the company's stock valued at $20,332,000 after buying an additional 80,075 shares during the period. Tidal Investments LLC raised its stake in shares of Sysco by 6.2% during the fourth quarter. Tidal Investments LLC now owns 39,319 shares of the company's stock valued at $3,006,000 after acquiring an additional 2,289 shares during the last quarter. Finally, WBI Investments LLC boosted its holdings in shares of Sysco by 13.6% during the fourth quarter. WBI Investments LLC now owns 7,703 shares of the company's stock worth $589,000 after purchasing an additional 920 shares during the period. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Sysco news, EVP Ronald L. Phillips sold 37,606 shares of the firm'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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Greg D. Bertrand sold 40,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total transaction 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. This represents 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 ninety days. Insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SYY shares. Citigroup started coverage on shares of Sysco in a report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 target price for the company. Truist Financial increased their target price on shares of Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Barclays increased their target price on shares of Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Wells Fargo & Company set a $88.00 target price on shares of Sysco and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Finally, Wall Street Zen lowered shares of Sysco from a "buy" rating to a "hold" rating in a report on Saturday, September 13th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $85.69.

Sysco Trading Up 0.6%

SYY stock traded up $0.49 during trading on Friday, reaching $82.42. The company had a trading volume of 7,527,001 shares, compared to its average volume of 3,288,389. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $83.24. The company has a market cap of $39.95 billion, a P/E ratio of 22.10, a PEG ratio of 2.55 and a beta of 0.80. The business has a 50 day moving average of $80.07 and a 200 day moving average of $75.52. 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 (NYSE:SYY - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.09. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The company had revenue of $21.14 billion during the quarter, compared to the consensus estimate of $21.01 billion. During the same period in the prior year, the firm earned $1.39 earnings per share. Sysco's revenue was up 2.8% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, sell-side analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.6%. Sysco's dividend payout ratio (DPR) is currently 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.