15,772 Sysco Corporation $SYY Shares Acquired by Axxcess Wealth Management LLC

Key Points

• Axxcess Wealth Management increased its Sysco stake by 132.4% in the third quarter, acquiring 15,772 additional shares and bringing its holdings to 27,686 shares valued at approximately $2.16 million. Institutional investors collectively own 83.41% of Sysco.
• Sysco reported quarterly earnings of $1.53 per share, beating estimates by $0.02, while revenue rose 4.7% year over year to $22.12 billion. The company reaffirmed fiscal 2027 earnings guidance of $5.025–$5.117 per share.
• Sysco declared a quarterly dividend of $0.55 per share, equivalent to an annualized $2.20 payout and a 2.6% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $90.42.

Axxcess Wealth Management LLC lifted its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 132.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 27,686 shares of the company's stock after acquiring an additional 15,772 shares during the period. Axxcess Wealth Management LLC's holdings in Sysco were worth $2,158,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of SYY. Parkside Financial Bank & Trust raised its stake in Sysco by 7.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,241 shares of the company's stock worth $187,000 after acquiring an additional 147 shares during the last quarter. Plimoth Trust Co. LLC lifted its position in Sysco by 4.2% during the 1st quarter. Plimoth Trust Co. LLC now owns 3,744 shares of the company's stock worth $267,000 after acquiring an additional 150 shares during the period. Pinnacle Associates Ltd. grew its stake in Sysco by 2.1% during the 3rd quarter. Pinnacle Associates Ltd. now owns 7,399 shares of the company's stock valued at $577,000 after purchasing an additional 150 shares during the last quarter. Sunbelt Securities Inc. grew its stake in Sysco by 87.6% during the 1st quarter. Sunbelt Securities Inc. now owns 364 shares of the company's stock valued at $26,000 after purchasing an additional 170 shares during the last quarter. Finally, Cornerstone Wealth Group LLC increased its holdings in shares of Sysco by 5.5% in the first quarter. Cornerstone Wealth Group LLC now owns 3,341 shares of the company's stock valued at $250,000 after purchasing an additional 173 shares during the period. Institutional investors and hedge funds own 83.41% of the company's stock.

Insider Activity at Sysco

In other news, EVP Ronald Phillips sold 960 shares of Sysco stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $83.00, for a total transaction of $79,680.00. Following the completion of the transaction, the executive vice president directly owned 49,852 shares of the company's stock, valued at $4,137,716. The trade was a 1.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 15,525 shares of company stock worth $1,299,736. 0.55% of the stock is owned by company insiders.

Sysco Stock Performance

Shares of SYY stock opened at $83.88 on Friday. The stock has a market cap of $41.26 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 2.81 and a beta of 0.64. The business has a 50-day simple moving average of $80.53 and a 200-day simple moving average of $79.27. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62. Sysco Corporation has a 52-week low of $68.19 and a 52-week high of $91.85.

Sysco (NYSE:SYY - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, topping analysts' consensus estimates of $1.51 by $0.02. The firm had revenue of $22.12 billion for the quarter, compared to the consensus estimate of $21.95 billion. Sysco had a return on equity of 95.05% and a net margin of 2.08%. The company's revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.48 earnings per share. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. On average, equities analysts expect that Sysco Corporation will post 5.10 EPS for the current year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.6%. Sysco's dividend payout ratio (DPR) is presently 60.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Piper Sandler lifted their target price on Sysco from $77.00 to $84.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Melius Research downgraded shares of Sysco from a "hold" rating to a "sell" rating in a report on Tuesday, July 7th. Weiss Ratings raised shares of Sysco from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 15th. Citigroup lifted their price objective on shares of Sysco from $82.00 to $86.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen raised shares of Sysco from a "hold" rating to a "buy" rating in a report on Saturday, October 3rd. Nine equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $90.42.

Sysco Company Profile

Sysco Corporation is a global foodservice distribution company headquartered in Houston, Texas. It supplies food and related products to restaurants, healthcare and educational institutions, hotels, government facilities, and other foodservice operators.

The company distributes a broad range of products, including fresh and frozen foods, meat and seafood, produce, dairy products, canned and packaged goods, beverages, and specialty food items. Sysco also provides nonfood products such as kitchen and dining supplies, equipment, and cleaning products, along with services intended to help customers manage menus, procurement, and operations.

Founded in 1969, Sysco serves customers primarily across the United States and Canada, as well as in parts of Europe and other international markets.

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