Westpac Banking Corp Has $2.65 Million Stock Position in Sysco Corporation $SYY

Westpac Banking Corp reduced its stake in shares of Sysco Corporation (NYSE:SYY) by 28.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 35,929 shares of the company’s stock after selling 14,325 shares during the period. Westpac Banking Corp’s holdings in Sysco were worth $2,648,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SYY. Jackson Grant Investment Advisers Inc. acquired a new stake in Sysco in the third quarter valued at about $25,000. Lloyd Advisory Services LLC. acquired a new stake in Sysco in the fourth quarter valued at about $25,000. Torren Management LLC acquired a new stake in Sysco in the fourth quarter valued at about $27,000. Elyxium Wealth LLC acquired a new stake in Sysco in the fourth quarter valued at about $28,000. Finally, Navalign LLC acquired a new stake in Sysco in the fourth quarter valued at about $29,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director John M. Hinshaw bought 13,304 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was purchased at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the completion of the transaction, the director owned 40,200 shares of the company’s stock, valued at $3,021,834. This trade represents a 49.46% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.56% of the company’s stock.

Sysco Price Performance

Sysco stock opened at $75.19 on Thursday. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 5.58. The company has a market capitalization of $35.95 billion, a PE ratio of 20.83, a P/E/G ratio of 3.03 and a beta of 0.65. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85. The stock has a 50-day moving average price of $74.74 and a two-hundred day moving average price of $78.11.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, April 28th. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.01). The firm had revenue of $20.52 billion during the quarter, compared to the consensus estimate of $20.56 billion. Sysco had a net margin of 2.08% and a return on equity of 103.57%. Sysco’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.96 earnings per share. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. Analysts expect that Sysco Corporation will post 4.59 EPS for the current year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Thursday, July 2nd will be given a $0.55 dividend. This is a boost from Sysco’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a yield of 2.9%. The ex-dividend date is Thursday, July 2nd. Sysco’s dividend payout ratio is 59.83%.

Analyst Ratings Changes

Several research firms recently weighed in on SYY. Sanford C. Bernstein reduced their price objective on Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft lowered Sysco from a “buy” rating to a “hold” rating and set a $84.00 price objective on the stock. in a research note on Tuesday, April 28th. Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings lowered Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 30th. Finally, Guggenheim reduced their price objective on Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Nine analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.15.

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.