NBT Bank N A NY Reduces Holdings in Sysco Corporation $SYY

NBT Bank N A NY trimmed its position in shares of Sysco Corporation (NYSE:SYY) by 39.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,089 shares of the company’s stock after selling 9,084 shares during the period. NBT Bank N A NY’s holdings in Sysco were worth $1,160,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. boosted its holdings in Sysco by 75.0% in the third quarter. Harbor Capital Advisors Inc. now owns 315 shares of the company’s stock valued at $26,000 after purchasing an additional 135 shares during the last quarter. Chung Wu Investment Group LLC acquired a new position in shares of Sysco in the 2nd quarter valued at approximately $30,000. Darwin Wealth Management LLC purchased a new position in shares of Sysco during the 2nd quarter valued at approximately $31,000. Vermillion & White Wealth Management Group LLC increased its stake in shares of Sysco by 94.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 419 shares of the company’s stock worth $32,000 after buying an additional 204 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in Sysco by 234.3% in the second quarter. Hantz Financial Services Inc. now owns 458 shares of the company’s stock valued at $35,000 after acquiring an additional 321 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SYY shares. Barclays raised their price objective on shares of Sysco from $86.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, January 7th. Morgan Stanley set a $88.00 price objective on Sysco in a report on Tuesday, October 21st. Citigroup reduced their target price on Sysco from $82.00 to $81.00 and set a “neutral” rating on the stock in a report on Wednesday, January 7th. Sanford C. Bernstein initiated coverage on Sysco in a report on Wednesday, October 22nd. They issued a “market perform” rating and a $83.00 price target for the company. Finally, Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $86.00.

Sysco Trading Down 0.6%

NYSE:SYY opened at $78.70 on Friday. The firm has a market capitalization of $37.69 billion, a P/E ratio of 21.10, a P/E/G ratio of 2.59 and a beta of 0.61. The business has a 50 day simple moving average of $74.77 and a 200 day simple moving average of $77.73. The company has a debt-to-equity ratio of 5.54, a current ratio of 1.15 and a quick ratio of 0.65. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $83.47.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, October 28th. The company reported $1.15 EPS for the quarter, topping the consensus estimate of $1.12 by $0.03. The business had revenue of $21.15 billion during the quarter, compared to analyst estimates of $21.03 billion. Sysco had a net margin of 2.21% and a return on equity of 112.04%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.09 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Equities research analysts predict that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 2nd will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, January 2nd. Sysco’s dividend payout ratio (DPR) is currently 57.91%.

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.