Sysco Corporation $SYY Shares Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. trimmed its holdings in shares of Sysco Corporation (NYSE:SYY) by 26.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,892 shares of the company’s stock after selling 13,755 shares during the period. TD Waterhouse Canada Inc.’s holdings in Sysco were worth $3,151,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Lloyd Advisory Services LLC. acquired a new stake in Sysco during the 4th quarter valued at $25,000. Motiv8 Investments LLC acquired a new position in shares of Sysco in the fourth quarter worth $25,000. Sunbelt Securities Inc. raised its holdings in shares of Sysco by 87.6% in the first quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock worth $26,000 after acquiring an additional 170 shares during the last quarter. Bard Associates Inc. purchased a new stake in shares of Sysco in the fourth quarter valued at $27,000. Finally, Elyxium Wealth LLC purchased a new stake in shares of Sysco in the fourth quarter valued at $28,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SYY has been the subject of a number of recent research reports. Citigroup lifted their price objective on Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. UBS Group upped their target price on shares of Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Piper Sandler raised their price target on shares of Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Melius Research lowered shares of Sysco from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th. Nine equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and an average price target of $89.50.

Sysco Stock Up 0.1%

SYY opened at $80.10 on Tuesday. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85. The business has a 50-day moving average of $83.07 and a two-hundred day moving average of $80.19. The company has a debt-to-equity ratio of 4.62, a current ratio of 1.28 and a quick ratio of 0.77. The stock has a market capitalization of $38.38 billion, a price-to-earnings ratio of 21.89, a price-to-earnings-growth ratio of 2.73 and a beta of 0.63.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The business had revenue of $22.12 billion for the quarter, compared to analysts’ expectations of $21.95 billion. During the same period last year, the company earned $1.48 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. On average, research analysts expect that Sysco Corporation will post 5.12 earnings per share for the current year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Friday, October 2nd. Sysco’s dividend payout ratio (DPR) is 60.11%.

Insider Activity

In other news, EVP Ronald Phillips sold 506 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $84.09, for a total transaction of $42,549.54. Following the completion of the sale, the executive vice president directly owned 36,313 shares in the company, valued at $3,053,560.17. This represents a 1.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 14,508 shares of company stock worth $1,215,250. 0.56% of the stock is owned by insiders.

Sysco Profile

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.