Burgundy Asset Management Ltd. Sells 463,846 Shares of Sysco Corporation $SYY

Burgundy Asset Management Ltd. lowered its position in shares of Sysco Corporation (NYSE:SYY) by 23.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,552,148 shares of the company’s stock after selling 463,846 shares during the period. Burgundy Asset Management Ltd. owned about 0.32% of Sysco worth $117,560,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Salvus Wealth Management LLC bought a new stake in shares of Sysco during the 2nd quarter valued at about $329,000. Norges Bank bought a new stake in Sysco in the second quarter worth approximately $493,686,000. Gradient Investments LLC lifted its stake in Sysco by 9.2% in the second quarter. Gradient Investments LLC now owns 189,169 shares of the company’s stock valued at $14,328,000 after buying an additional 15,906 shares during the period. Brighton Jones LLC boosted its holdings in shares of Sysco by 4.3% during the 2nd quarter. Brighton Jones LLC now owns 90,338 shares of the company’s stock worth $6,842,000 after buying an additional 3,760 shares in the last quarter. Finally, Beacon Financial Group grew its position in shares of Sysco by 55.5% during the 2nd quarter. Beacon Financial Group now owns 9,955 shares of the company’s stock worth $754,000 after buying an additional 3,554 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 961 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $81.00, for a total value of $77,841.00. Following the sale, the executive vice president owned 41,501 shares of the company’s stock, valued at $3,361,581. This trade represents a 2.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.56% of the company’s stock.

Sysco Stock Down 0.5%

Sysco stock opened at $73.11 on Friday. The company has a quick ratio of 0.65, a current ratio of 1.15 and a debt-to-equity ratio of 5.54. The firm has a 50 day moving average price of $76.93 and a 200-day moving average price of $77.62. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $83.47. The company has a market capitalization of $35.01 billion, a P/E ratio of 19.60, a P/E/G ratio of 2.40 and a beta of 0.61.

Sysco (NYSE:SYY) last issued 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 firm 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 business’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, equities analysts predict that Sysco Corporation will post 4.58 EPS for the current 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 issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, January 2nd. Sysco’s dividend payout ratio is 57.91%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Guggenheim raised their price target on shares of Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Wall Street Zen downgraded Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Sanford C. Bernstein began coverage on Sysco in a research note on Wednesday, October 22nd. They set a “market perform” rating and a $83.00 price target on the stock. Morgan Stanley set a $88.00 price objective on Sysco in a research note on Tuesday, October 21st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Sysco in a report on Monday, December 1st. Nine equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.