Ascent Group LLC Acquires Shares of 3,604 Sysco Corporation $SYY

Key Points

• Ascent Group LLC acquired 3,604 shares of Sysco Corporation, valued at approximately $273,000, in the second quarter of the year.
• Sysco recently reported earnings of $1.48 per share for the last quarter, exceeding analyst expectations, with revenue of $21.14 billion.
• The company announced a quarterly dividend of $0.54 per share, representing a 2.7% dividend yield, payable on October 24th.

Ascent Group LLC acquired a new stake in Sysco Corporation (NYSE:SYY - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,604 shares of the company's stock, valued at approximately $273,000.

Several other institutional investors have also modified their holdings of the stock. Golden State Wealth Management LLC boosted its stake in Sysco by 48.4% during the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock worth $32,000 after buying an additional 140 shares during the period. N.E.W. Advisory Services LLC bought a new stake in shares of Sysco in the 1st quarter worth about $33,000. Cheviot Value Management LLC bought a new stake in shares of Sysco in the 1st quarter worth about $34,000. 1248 Management LLC bought a new stake in shares of Sysco in the 1st quarter worth about $35,000. Finally, Banque Transatlantique SA purchased a new stake in Sysco in the 1st quarter worth about $35,000. 83.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on SYY. Wall Street Zen lowered shares of Sysco from a "buy" rating to a "hold" rating in a research report on Saturday, September 13th. UBS Group set a $90.00 price objective on Sysco in a report on Wednesday, July 30th. Wells Fargo & Company set a $88.00 target price on Sysco and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Morgan Stanley lifted their target price on Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Finally, Truist Financial raised their price target on shares of Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.85.

Sysco Price Performance

Shares of SYY opened at $79.83 on Wednesday. The stock has a market capitalization of $38.20 billion, a PE ratio of 21.40, a PEG ratio of 2.50 and a beta of 0.82. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $83.47. 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 50 day moving average price of $80.90 and a 200-day moving average price of $76.25.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.09. The company had revenue of $21.14 billion for the quarter, compared to the consensus estimate of $21.01 billion. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The firm's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.39 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Equities analysts predict that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently announced 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 payout ratio is 57.91%.

Insider Transactions at Sysco

In related news, EVP Greg D. Bertrand sold 40,000 shares of the company's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total value of $3,200,000.00. Following the completion of the transaction, the executive vice president owned 56,304 shares of the company's stock, valued at approximately $4,504,320. This represents a 41.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ronald L. Phillips sold 37,606 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the transaction, the executive vice president directly owned 30,235 shares in the company, valued at approximately $2,449,035. The trade was a 55.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,338 shares of company stock valued at $7,439,331 in the last ninety days. 0.54% of the stock is currently owned by insiders.

Sysco 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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