Associated Banc Corp Sells 1,210 Shares of Sysco Corporation $SYY

Associated Banc Corp decreased its holdings in shares of Sysco Corporation (NYSE:SYY) by 0.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 173,430 shares of the company’s stock after selling 1,210 shares during the quarter. Associated Banc Corp’s holdings in Sysco were worth $13,136,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Salvus Wealth Management LLC purchased a new position in Sysco in the 2nd quarter worth about $329,000. Gradient Investments LLC grew its stake in Sysco by 9.2% in the 2nd quarter. Gradient Investments LLC now owns 189,169 shares of the company’s stock worth $14,328,000 after acquiring an additional 15,906 shares in the last quarter. Brighton Jones LLC increased its position in shares of Sysco by 4.3% during the second quarter. Brighton Jones LLC now owns 90,338 shares of the company’s stock worth $6,842,000 after acquiring an additional 3,760 shares during the period. Beacon Financial Group raised its stake in shares of Sysco by 55.5% during the second quarter. Beacon Financial Group now owns 9,955 shares of the company’s stock valued at $754,000 after acquiring an additional 3,554 shares in the last quarter. Finally, KLP Kapitalforvaltning AS boosted its holdings in shares of Sysco by 5.8% in the second quarter. KLP Kapitalforvaltning AS now owns 448,600 shares of the company’s stock valued at $33,977,000 after purchasing an additional 24,500 shares during the period. 83.41% of the stock is owned by institutional investors.

Sysco Stock Performance

Shares of SYY opened at $74.69 on Tuesday. Sysco Corporation has a 12 month low of $67.12 and a 12 month high of $83.47. The stock has a fifty day moving average price of $78.18 and a 200-day moving average price of $77.48. The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 5.54. The firm has a market cap of $35.77 billion, a PE ratio of 20.02, a P/E/G ratio of 2.19 and a beta of 0.79.

Sysco (NYSE:SYY) last announced its earnings results 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 for the quarter, compared to analyst estimates of $21.03 billion. Sysco had a return on equity of 112.04% and a net margin of 2.21%.The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.09 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Equities research analysts predict that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 2nd will be paid a $0.54 dividend. The ex-dividend date is Friday, January 2nd. This represents a $2.16 dividend on an annualized basis and a yield of 2.9%. Sysco’s dividend payout ratio (DPR) is 57.91%.

Insider Buying and Selling

In other Sysco news, EVP Ronald L. Phillips sold 961 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $81.00, for a total transaction of $77,841.00. Following the sale, the executive vice president owned 41,501 shares in the company, valued at approximately $3,361,581. The trade was a 2.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on SYY shares. Wall Street Zen downgraded Sysco from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. UBS Group set a $90.00 price target on Sysco in a research note on Wednesday, July 30th. Barclays upped their price objective on shares of Sysco from $82.00 to $86.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Truist Financial raised their target price on shares of Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. Finally, Guggenheim upped their price target on shares of Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Nine investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and an average price target of $87.00.

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.