NBT Bank N.A. Makes New $989,000 Investment in Sysco Corporation $SYY

NBT Bank N.A. bought a new stake in Sysco Corporation (NYSE:SYY) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 12,685 shares of the company’s stock, valued at approximately $989,000.

A number of other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Sysco during the 2nd quarter worth $3,596,356,000. Bank of America Corp DE purchased a new stake in shares of Sysco in the 2nd quarter worth about $482,589,000. Primecap Management Co. CA purchased a new stake in shares of Sysco in the 2nd quarter worth about $313,503,000. Bank of New York Mellon Corp acquired a new stake in Sysco in the 2nd quarter valued at about $273,323,000. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Sysco in the 2nd quarter valued at about $203,861,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

NYSE:SYY opened at $81.38 on Friday. 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 firm has a market cap of $40.04 billion, a PE ratio of 22.24, a P/E/G ratio of 2.87 and a beta of 0.64. The firm has a 50 day simple moving average of $80.49 and a 200-day simple moving average of $79.29. Sysco Corporation has a 1-year low of $68.19 and a 1-year high of $91.85.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.51 by $0.02. The firm had revenue of $22.12 billion during 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%. Sysco’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $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. On average, equities analysts expect that Sysco Corporation will post 5.10 EPS for the current year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd were issued a dividend of $0.55 per share. The ex-dividend date was Friday, October 2nd. This represents a $2.20 annualized dividend and a dividend yield of 2.7%. Sysco’s dividend payout ratio (DPR) is 60.11%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Morgan Stanley raised their target price on shares of Sysco from $88.00 to $91.00 and gave the company an “equal weight” rating in a report on Thursday, October 15th. UBS Group upped their price target on shares of Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Wall Street Zen lowered shares of Sysco from a “buy” rating to a “hold” rating in a research report on Saturday. Melius Research cut shares of Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Finally, Piper Sandler lifted their price objective on Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Nine equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $90.42.

Insider Activity

In other news, EVP Ronald Phillips sold 960 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $83.00, for a total transaction of $79,680.00. Following the sale, the executive vice president owned 49,852 shares in the company, valued at $4,137,716. This trade represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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. Insiders sold a total of 15,525 shares of company stock worth $1,299,736 in the last 90 days. 0.55% of the stock is owned by company insiders.

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.