OLD Point Trust & Financial Services N A Has $2.66 Million Holdings in Sysco Corporation $SYY

OLD Point Trust & Financial Services N A reduced its position in Sysco Corporation (NYSE:SYY) by 2.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,128 shares of the company’s stock after selling 988 shares during the period. Sysco comprises about 1.0% of OLD Point Trust & Financial Services N A’s holdings, making the stock its 28th largest position. OLD Point Trust & Financial Services N A’s holdings in Sysco were worth $2,661,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SYY. Versant Capital Management Inc increased its holdings in shares of Sysco by 41.5% during the 1st quarter. Versant Capital Management Inc now owns 1,764 shares of the company’s stock valued at $132,000 after acquiring an additional 517 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Sysco by 6,605.6% during the 1st quarter. GAMMA Investing LLC now owns 468,925 shares of the company’s stock valued at $35,188,000 after acquiring an additional 461,932 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Sysco by 4.4% during the 1st quarter. Rhumbline Advisers now owns 1,011,077 shares of the company’s stock valued at $75,871,000 after acquiring an additional 42,173 shares during the last quarter. Czech National Bank increased its holdings in shares of Sysco by 5.5% during the 1st quarter. Czech National Bank now owns 112,368 shares of the company’s stock valued at $8,432,000 after acquiring an additional 5,860 shares during the last quarter. Finally, Merit Financial Group LLC increased its holdings in shares of Sysco by 23.7% during the 1st quarter. Merit Financial Group LLC now owns 39,696 shares of the company’s stock valued at $2,979,000 after acquiring an additional 7,612 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Price Performance

Shares of NYSE:SYY opened at $82.40 on Wednesday. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $83.24. The firm has a market capitalization of $39.94 billion, a PE ratio of 22.09, a PEG ratio of 2.54 and a beta of 0.80. The business’s 50 day moving average is $80.71 and its 200-day moving average is $75.93. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.39 by $0.09. The business had revenue of $21.14 billion during the quarter, compared to the consensus estimate of $21.01 billion. Sysco had a return on equity of 109.52% and a net margin of 2.25%.Sysco’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the company earned $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Sell-side analysts predict that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, October 3rd. Sysco’s dividend payout ratio (DPR) is 57.91%.

Insider Activity at Sysco

In related news, EVP Greg D. Bertrand sold 40,000 shares of the firm’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 transaction of $3,200,000.00. Following the completion of the transaction, the executive vice president owned 56,304 shares in the company, valued at $4,504,320. This trade represents a 41.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ronald L. Phillips sold 37,606 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total value of $3,046,086.00. Following the transaction, the executive vice president owned 30,235 shares of the company’s stock, valued at $2,449,035. This trade represents a 55.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,338 shares of company stock valued at $7,439,331 in the last 90 days. 0.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on SYY shares. Barclays increased their price objective on Sysco from $77.00 to $82.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Truist Financial raised their target price on Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. Bank of America raised their target price on Sysco from $81.00 to $93.00 and gave the company a “buy” rating in a report on Friday, July 18th. Morgan Stanley raised their target price on Sysco from $72.00 to $77.00 and gave the company an “equal weight” rating in a report on Monday, July 14th. Finally, 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. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Sysco has a consensus rating of “Moderate Buy” and a consensus price target of $85.69.

Sysco Company 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.