Glenview Trust Co Reduces Stock Holdings in Sysco Corporation $SYY

Glenview Trust Co lowered its holdings in Sysco Corporation (NYSE:SYY) by 21.7% during the first quarter, Holdings Channel reports. The fund owned 62,130 shares of the company’s stock after selling 17,206 shares during the quarter. Glenview Trust Co’s holdings in Sysco were worth $4,432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SYY. Intech Investment Management LLC raised its position in Sysco by 53.1% during the first quarter. Intech Investment Management LLC now owns 22,310 shares of the company’s stock valued at $1,674,000 after acquiring an additional 7,742 shares in the last quarter. Schnieders Capital Management LLC. boosted its position in Sysco by 24.1% in the 2nd quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company’s stock worth $781,000 after purchasing an additional 2,000 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Sysco by 62.4% during the 2nd quarter. NewEdge Advisors LLC now owns 35,447 shares of the company’s stock worth $2,685,000 after purchasing an additional 13,616 shares during the period. Sei Investments Co. increased its holdings in shares of Sysco by 14.2% during the 2nd quarter. Sei Investments Co. now owns 344,504 shares of the company’s stock valued at $26,092,000 after purchasing an additional 42,903 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in shares of Sysco by 0.8% in the 2nd quarter. Treasurer of the State of North Carolina now owns 226,648 shares of the company’s stock valued at $17,166,000 after purchasing an additional 1,710 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director John M. Hinshaw acquired 13,304 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were bought at an average price of $75.17 per share, for a total transaction of $1,000,061.68. Following the acquisition, the director owned 40,200 shares of the company’s stock, valued at approximately $3,021,834. This trade represents a 49.46% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

SYY has been the subject of a number of analyst reports. Citigroup upped their price objective on shares of Sysco from $78.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. 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. UBS Group cut their price objective on Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Deutsche Bank Aktiengesellschaft downgraded Sysco from a “buy” rating to a “hold” rating and set a $84.00 target price for the company. in a research note on Tuesday, April 28th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Sysco in a research report on Friday, June 26th. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $88.00.

Sysco Price Performance

NYSE:SYY opened at $81.21 on Wednesday. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85. The stock has a 50 day moving average of $78.95 and a two-hundred day moving average of $79.59. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 5.58. The firm has a market cap of $38.83 billion, a P/E ratio of 22.50, a price-to-earnings-growth ratio of 3.18 and a beta of 0.64.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). The firm had revenue of $20.52 billion during the quarter, compared to analysts’ expectations of $20.56 billion. Sysco had a net margin of 2.08% and a return on equity of 103.57%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.96 EPS. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. On average, analysts expect that Sysco Corporation will post 4.59 earnings per share for the current fiscal year.

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.