WASHINGTON TRUST Co Has $2.15 Million Stake in Sysco Corporation $SYY

WASHINGTON TRUST Co cut its stake in shares of Sysco Corporation (NYSE:SYY) by 84.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,404 shares of the company’s stock after selling 154,638 shares during the quarter. WASHINGTON TRUST Co’s holdings in Sysco were worth $2,151,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Chung Wu Investment Group LLC bought a new stake in shares of Sysco in the 2nd quarter valued at $30,000. N.E.W. Advisory Services LLC bought a new stake in shares of Sysco during the 1st quarter worth $33,000. Hantz Financial Services Inc. raised its stake in shares of Sysco by 234.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 458 shares of the company’s stock valued at $35,000 after purchasing an additional 321 shares during the period. 1248 Management LLC bought a new position in shares of Sysco in the first quarter worth $35,000. Finally, Cheviot Value Management LLC bought a new position in shares of Sysco in the 1st quarter worth $34,000. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of NYSE SYY traded up $0.02 during mid-day trading on Thursday, hitting $75.44. 148,268 shares of the company were exchanged, compared to its average volume of 3,226,147. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $83.47. The firm has a market cap of $36.12 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 2.19 and a beta of 0.79. The stock has a 50 day simple moving average of $79.11 and a 200-day simple moving average of $77.16. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 5.54.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.03. The company had revenue of $21.15 billion during the quarter, compared to analysts’ expectations of $21.03 billion. Sysco had a net margin of 2.21% and a return on equity of 112.04%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, sell-side analysts forecast that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 2nd will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, January 2nd. Sysco’s payout ratio is presently 57.91%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Weiss Ratings cut Sysco from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, November 7th. Barclays lifted their price objective on Sysco from $82.00 to $86.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Bank of America boosted their price objective on Sysco from $81.00 to $93.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Guggenheim upped their price target on shares of Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Finally, Truist Financial upped their price objective on shares of Sysco from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Nine analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Sysco has a consensus rating of “Moderate Buy” and an average target price of $87.00.

Insider Buying and Selling

In other news, EVP Ronald L. Phillips sold 7,351 shares of Sysco stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $81.00, for a total value of $595,431.00. Following the transaction, the executive vice president directly owned 41,837 shares in the company, valued at approximately $3,388,797. The trade was a 14.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.56% 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.