Sysco Corporation $SYY Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN lowered its position in shares of Sysco Corporation (NYSE:SYY) by 10.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 24,149 shares of the company’s stock after selling 2,896 shares during the quarter. OLD National Bancorp IN’s holdings in Sysco were worth $1,829,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC raised its stake in Sysco by 48.4% during the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock valued at $32,000 after buying an additional 140 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in Sysco during the first quarter valued at approximately $33,000. 1248 Management LLC acquired a new stake in Sysco during the first quarter valued at approximately $35,000. Cheviot Value Management LLC acquired a new stake in Sysco during the first quarter valued at approximately $34,000. Finally, Banque Transatlantique SA acquired a new stake in Sysco during the first quarter valued at approximately $35,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Down 1.6%

SYY opened at $80.86 on Tuesday. Sysco Corporation has a 12 month low of $67.12 and a 12 month high of $83.47. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70. The stock has a market cap of $38.69 billion, a P/E ratio of 21.68, a P/E/G ratio of 2.54 and a beta of 0.82. The stock’s 50 day moving average price is $80.87 and its 200 day moving average price is $76.22.

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

Sysco Announces Dividend

The firm 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 $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, October 3rd. Sysco’s dividend payout ratio (DPR) is currently 57.91%.

Analysts Set New Price Targets

Several brokerages have issued reports on SYY. Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, September 13th. Wells Fargo & Company set a $88.00 price target on Sysco and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Morgan Stanley increased their price target on Sysco from $72.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Monday, July 14th. Guggenheim increased their price target on Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Bank of America increased their price target on Sysco from $81.00 to $93.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $85.85.

Insider Activity at Sysco

In related news, EVP Ronald L. Phillips sold 961 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $81.00, for a total value of $77,841.00. Following the sale, the executive vice president directly owned 41,501 shares in the company, valued at $3,361,581. This trade represents a 2.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 value of $3,200,000.00. Following the completion of the sale, the executive vice president owned 56,304 shares in the company, valued at approximately $4,504,320. This represents 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 sold 92,338 shares of company stock worth $7,439,331. 0.54% of the stock is owned by insiders.

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.