Sysco Corporation $SYY Shares Newly Purchased by NBT Bank N.A.

NBT Bank N.A. purchased a new position in shares of Sysco Corporation (NYSE:SYY) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 12,685 shares of the company’s stock, valued at approximately $989,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Isthmus Partners LLC grew its position in Sysco by 0.6% during the 3rd quarter. Isthmus Partners LLC now owns 168,123 shares of the company’s stock worth $13,107,000 after purchasing an additional 989 shares during the last quarter. Lmcg Investments LLC raised its holdings in shares of Sysco by 4.6% in the third quarter. Lmcg Investments LLC now owns 145,367 shares of the company’s stock valued at $11,333,000 after buying an additional 6,396 shares during the last quarter. Axxcess Wealth Management LLC raised its holdings in shares of Sysco by 132.4% in the third quarter. Axxcess Wealth Management LLC now owns 27,686 shares of the company’s stock valued at $2,158,000 after buying an additional 15,772 shares during the last quarter. Sawyer & Company Inc acquired a new stake in shares of Sysco during the third quarter worth about $2,811,000. Finally, Pinnacle Associates Ltd. boosted its stake in shares of Sysco by 2.1% during the third quarter. Pinnacle Associates Ltd. now owns 7,399 shares of the company’s stock worth $577,000 after buying an additional 150 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. UBS Group raised their price target on Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Citigroup upped their price objective on Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Morgan Stanley increased their price objective on Sysco from $88.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 15th. Weiss Ratings raised Sysco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 15th. Finally, Guggenheim reiterated a “buy” rating and issued a $90.00 target price on shares of Sysco in a research note on Wednesday, September 16th. Nine research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $90.42.

Sysco Trading Down 3.1%

NYSE:SYY opened at $81.38 on Friday. Sysco Corporation has a 1 year low of $68.19 and a 1 year high of $91.85. The company has a debt-to-equity ratio of 4.62, a quick ratio of 0.77 and a current ratio of 1.28. The stock has a fifty day moving average price of $80.49 and a two-hundred day moving average price of $79.29. The stock has a market capitalization of $40.04 billion, a price-to-earnings ratio of 22.24, a PEG ratio of 2.87 and a beta of 0.64.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The business had revenue of $22.12 billion for the quarter, compared to analysts’ expectations of $21.95 billion. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.48 EPS. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. As a group, sell-side analysts anticipate that Sysco Corporation will post 5.10 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.7%. The ex-dividend date was Friday, October 2nd. Sysco’s dividend payout ratio is presently 60.11%.

Insiders Place Their Bets

In other Sysco news, EVP Ronald Phillips sold 7,350 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $83.61, for a total value of $614,533.50. Following the completion of the transaction, the executive vice president directly owned 38,650 shares of the company’s stock, valued at approximately $3,231,526.50. This trade represents a 15.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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. Insiders have sold 15,525 shares of company stock worth $1,299,736 in the last quarter. Corporate insiders own 0.55% of the company’s stock.

Sysco Profile

Sysco Corporation is a global foodservice distribution company headquartered in Houston, Texas. It supplies food and related products to restaurants, healthcare and educational institutions, hotels, government facilities, and other foodservice operators.

The company distributes a broad range of products, including fresh and frozen foods, meat and seafood, produce, dairy products, canned and packaged goods, beverages, and specialty food items. Sysco also provides nonfood products such as kitchen and dining supplies, equipment, and cleaning products, along with services intended to help customers manage menus, procurement, and operations.

Founded in 1969, Sysco serves customers primarily across the United States and Canada, as well as in parts of Europe and other international markets.