Glenview Trust Co Lowers Holdings in Sysco Corporation $SYY

Glenview Trust Co reduced its holdings in shares of Sysco Corporation (NYSE:SYY) by 53.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 142,274 shares of the company’s stock after selling 161,055 shares during the period. Glenview Trust Co’s holdings in Sysco were worth $11,715,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Sysco during the second quarter worth $493,686,000. Vanguard Group Inc. boosted its holdings in Sysco by 2.0% in the second quarter. Vanguard Group Inc. now owns 62,691,177 shares of the company’s stock valued at $4,748,230,000 after purchasing an additional 1,226,381 shares during the period. Marshall Wace LLP grew its stake in Sysco by 207.6% during the 2nd quarter. Marshall Wace LLP now owns 1,164,656 shares of the company’s stock worth $88,211,000 after purchasing an additional 785,995 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Sysco by 143.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,215,260 shares of the company’s stock worth $92,044,000 after purchasing an additional 715,663 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in Sysco by 163.1% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 710,900 shares of the company’s stock valued at $58,536,000 after purchasing an additional 440,700 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Ronald L. Phillips sold 5,601 shares of the stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $81.00, for a total value of $453,681.00. Following the completion of the sale, the executive vice president directly owned 35,965 shares of the company’s stock, valued at approximately $2,913,165. This represents a 13.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sheila Talton sold 2,801 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $82.99, for a total transaction of $232,454.99. Following the transaction, the director owned 12,868 shares in the company, valued at approximately $1,067,915.32. This trade represents a 17.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.56% of the stock is currently owned by insiders.

Sysco Stock Up 0.6%

SYY stock opened at $90.49 on Tuesday. The stock has a market cap of $43.34 billion, a P/E ratio of 24.33, a PEG ratio of 2.81 and a beta of 0.61. The company has a current ratio of 1.30, a quick ratio of 0.75 and a debt-to-equity ratio of 5.45. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $91.40. The company’s 50 day moving average is $78.30 and its two-hundred day moving average is $78.49.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 27th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.01. Sysco had a net margin of 2.17% and a return on equity of 109.21%. The business had revenue of $20.76 billion during the quarter, compared to analysts’ expectations of $20.80 billion. During the same quarter in the prior year, the business posted $0.93 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. Research analysts expect that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Truist Financial boosted their price objective on Sysco from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Wells Fargo & Company lifted their price target on shares of Sysco from $88.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Barclays increased their price objective on shares of Sysco from $88.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sysco in a research report on Monday, December 29th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Sysco in a research note on Wednesday, January 28th. Nine investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.69.

About Sysco

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.