Sysco Corporation $SYY Shares Sold by Bar Harbor Wealth Management

Bar Harbor Wealth Management cut its stake in shares of Sysco Corporation (NYSE:SYY) by 0.6% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 125,106 shares of the company’s stock after selling 700 shares during the period. Bar Harbor Wealth Management’s holdings in Sysco were worth $9,476,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Boyd Watterson Asset Management LLC OH lifted its position in Sysco by 106.4% during the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company’s stock worth $236,000 after acquiring an additional 1,622 shares in the last quarter. Gradient Investments LLC lifted its position in Sysco by 9.2% during the 2nd quarter. Gradient Investments LLC now owns 189,169 shares of the company’s stock worth $14,328,000 after acquiring an additional 15,906 shares in the last quarter. Beacon Financial Group lifted its position in Sysco by 55.5% during the 2nd quarter. Beacon Financial Group now owns 9,955 shares of the company’s stock worth $754,000 after acquiring an additional 3,554 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Sysco by 2.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 223,510 shares of the company’s stock valued at $16,772,000 after purchasing an additional 4,932 shares in the last quarter. Finally, Gallacher Capital Management LLC acquired a new position in shares of Sysco in the 2nd quarter valued at approximately $730,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Truist Financial upped their target price on Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a research 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 research report on Tuesday, July 29th. Weiss Ratings lowered Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. Barclays upped their target price on Sysco from $77.00 to $82.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Finally, Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, September 13th. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Sysco has an average rating of “Moderate Buy” and an average target price of $85.85.

Sysco Stock Performance

SYY stock opened at $78.76 on Thursday. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75. The firm has a market cap of $37.69 billion, a P/E ratio of 21.12, a P/E/G ratio of 2.48 and a beta of 0.82. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $83.47. The stock’s 50 day simple moving average is $80.87 and its 200 day simple moving average is $76.26.

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

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, October 3rd. Sysco’s dividend payout ratio is presently 57.91%.

Insiders Place Their Bets

In related news, EVP Ronald L. Phillips sold 37,606 shares of the company’s stock in a transaction on Wednesday, July 23rd. The stock was 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 directly owned 30,235 shares in the company, valued at $2,449,035. This represents a 55.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the company’s stock in a transaction 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 transaction, the executive vice president owned 56,304 shares of the company’s stock, valued at approximately $4,504,320. The trade was a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,338 shares of company stock valued at $7,439,331. 0.54% of the stock is owned by company insiders.

About Sysco

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.