United Asset Strategies Inc. Makes New Investment in Sysco Corporation $SYY

Key Points

• United Asset Strategies Inc. acquired 10,318 shares of Sysco Corporation, valued at approximately $774,000, indicating institutional interest in the company.
• Sysco reported earnings of $1.48 EPS for the last quarter, exceeding analysts' expectations and demonstrating revenue growth of 2.8% year-over-year.
• Several analysts have set a price target for Sysco, with consensus rating of "Moderate Buy" and an average target price of $85.69.

United Asset Strategies Inc. purchased a new position in Sysco Corporation (NYSE:SYY - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 10,318 shares of the company's stock, valued at approximately $774,000.

A number of other hedge funds have also bought and sold shares of SYY. Rialto Wealth Management LLC grew its stake in Sysco by 188.7% in the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock worth $25,000 after purchasing an additional 217 shares in the last quarter. Parvin Asset Management LLC bought a new position in Sysco in the fourth quarter worth about $29,000. Golden State Wealth Management LLC lifted its holdings in Sysco by 48.4% in the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock worth $32,000 after acquiring an additional 140 shares during the last quarter. N.E.W. Advisory Services LLC bought a new position in Sysco in the first quarter worth about $33,000. Finally, Capital A Wealth Management LLC bought a new position in Sysco in the fourth quarter worth about $34,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Price Performance

NYSE:SYY traded down $0.9530 during midday trading on Monday, hitting $79.3370. 2,369,429 shares of the stock were exchanged, compared to its average volume of 3,313,996. Sysco Corporation has a one year low of $67.12 and a one year high of $82.64. The company has a market capitalization of $38.46 billion, a price-to-earnings ratio of 21.27, a P/E/G ratio of 2.49 and a beta of 0.83. The business has a 50-day moving average price of $78.14 and a two-hundred day moving average price of $74.43. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75.

Sysco (NYSE:SYY - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.39 by $0.09. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The firm had revenue of $21.14 billion for the quarter, compared to analysts' expectations of $21.01 billion. During the same quarter in the previous year, the company earned $1.39 earnings per share. The firm's quarterly revenue was up 2.8% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Sell-side 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, October 24th. Investors of record on Friday, October 3rd will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.16 annualized dividend and a yield of 2.7%. Sysco's payout ratio is presently 57.91%.

Analyst Ratings Changes

A number of equities analysts have issued reports on SYY shares. Wells Fargo & Company set a $88.00 target price on shares of Sysco and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Truist Financial raised their target price on shares of Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. BMO Capital Markets cut their target price on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Barclays raised their target price on shares of Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Finally, Guggenheim raised their target price on shares of Sysco from $85.00 to $87.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.69.

Insider Activity at Sysco

In related news, EVP Greg D. Bertrand sold 40,000 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the sale, the executive vice president owned 56,304 shares of the company's stock, valued at $4,504,320. The trade was a 41.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ronald L. Phillips sold 6,286 shares of Sysco stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $81.00, for a total transaction of $509,166.00. Following the completion of the transaction, the executive vice president owned 34,404 shares in the company, valued at approximately $2,786,724. This trade represents a 15.45% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,026 shares of company stock worth $6,766,059. 0.54% of the stock is owned by corporate insiders.

About Sysco

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.