Allspring Global Investments Holdings LLC Buys 84,616 Shares of Sysco Corporation $SYY

Allspring Global Investments Holdings LLC raised its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 20.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 492,396 shares of the company's stock after acquiring an additional 84,616 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.10% of Sysco worth $38,092,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Chung Wu Investment Group LLC purchased a new position in shares of Sysco in the 2nd quarter valued at approximately $30,000. Golden State Wealth Management LLC raised 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 purchasing an additional 140 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new position in Sysco during the first quarter valued at $33,000. Cheviot Value Management LLC bought a new stake in shares of Sysco during the 1st quarter valued at $34,000. Finally, 1248 Management LLC purchased a new stake in shares of Sysco in the 1st quarter worth about $35,000. Institutional investors own 83.41% of the company's stock.

Sysco Price Performance

NYSE SYY opened at $80.10 on Thursday. Sysco Corporation has a one year low of $67.12 and a one year high of $83.47. The stock has a 50-day moving average of $80.78 and a 200 day moving average of $76.49. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. The company has a market capitalization of $38.33 billion, a price-to-earnings ratio of 21.47, a PEG ratio of 2.47 and a beta of 0.82.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.09. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The firm had revenue of $21.14 billion during the quarter, compared to analyst estimates of $21.01 billion. During the same period in the previous year, the business posted $1.39 earnings per share. The business's revenue for the quarter was up 2.8% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, sell-side analysts forecast that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, October 3rd. Sysco's dividend payout ratio is presently 57.91%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SYY shares. Barclays boosted their price objective on shares of Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Bank of America upped their price target on Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Morgan Stanley lifted their price objective on Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. UBS Group set a $90.00 target price on Sysco in a report on Wednesday, July 30th. Finally, Guggenheim raised their price target on Sysco from $87.00 to $89.00 and gave the company a "buy" rating in a report on Monday, October 6th. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Sysco has a consensus rating of "Moderate Buy" and a consensus target price of $86.46.

Insiders Place Their Bets

In other Sysco news, EVP Ronald L. Phillips sold 37,606 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the completion of the sale, the executive vice president directly owned 30,235 shares in the company, valued at $2,449,035. The trade was a 55.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the company's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the sale, the executive vice president directly owned 56,304 shares of the company's stock, valued at $4,504,320. The trade was a 41.54% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,338 shares of company stock worth $7,439,331. Company insiders own 0.56% of the company's stock.

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.

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