Atlantic Union Bankshares Corp Boosts Stock Holdings in Sysco Corporation $SYY

Atlantic Union Bankshares Corp raised its holdings in shares of Sysco Corporation (NYSE:SYY) by 268.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,606 shares of the company’s stock after acquiring an additional 7,727 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Sysco were worth $803,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SYY. Boyd Watterson Asset Management LLC OH boosted its position in Sysco by 106.4% during the first quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company’s stock worth $236,000 after purchasing an additional 1,622 shares in the last quarter. Gradient Investments LLC increased its stake in shares of Sysco by 9.2% in the second quarter. Gradient Investments LLC now owns 189,169 shares of the company’s stock worth $14,328,000 after buying an additional 15,906 shares during the last quarter. Beacon Financial Group boosted its holdings in Sysco by 55.5% in the second quarter. Beacon Financial Group now owns 9,955 shares of the company’s stock worth $754,000 after purchasing an additional 3,554 shares during the period. Shell Asset Management Co. boosted its holdings in shares of Sysco by 31.6% during the second quarter. Shell Asset Management Co. now owns 19,218 shares of the company’s stock valued at $1,456,000 after acquiring an additional 4,620 shares during the period. Finally, KLP Kapitalforvaltning AS increased its stake in Sysco by 5.8% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 448,600 shares of the company’s stock valued at $33,977,000 after buying an additional 24,500 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SYY has been the topic of several research analyst reports. UBS Group set a $90.00 price objective on shares of Sysco in a research report on Wednesday, July 30th. Truist Financial boosted their price target 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. Barclays boosted their price target 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. Bank of America upped their price target on shares of Sysco from $81.00 to $93.00 and gave the company a “buy” rating in a report on Friday, July 18th. Finally, Wells Fargo & Company set a $88.00 target price on Sysco and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $87.00.

Sysco Trading Up 3.2%

SYY opened at $75.22 on Friday. The company has a debt-to-equity ratio of 5.54, a current ratio of 1.15 and a quick ratio of 0.70. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $83.47. The company’s 50 day moving average price is $79.44 and its two-hundred day moving average price is $77.10. The firm has a market capitalization of $36.02 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 2.19 and a beta of 0.79.

Sysco (NYSE:SYY) last released its quarterly 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. Sysco had a net margin of 2.21% and a return on equity of 112.04%. The firm had revenue of $21.15 billion during the quarter, compared to the consensus estimate of $21.03 billion. During the same quarter last year, the firm earned $1.09 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, research analysts predict that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 24th. Shareholders of record on Friday, October 3rd were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Friday, October 3rd. Sysco’s dividend payout ratio is presently 57.91%.

Insider Activity

In other news, EVP Ronald L. Phillips sold 7,351 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $81.00, for a total transaction of $595,431.00. Following the completion of the sale, the executive vice president directly owned 41,837 shares of the company’s stock, valued at $3,388,797. The trade was a 14.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 14,732 shares of company stock worth $1,193,245 in the last ninety days. 0.56% of the stock is owned by company insiders.

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.