Atria Wealth Solutions Inc. Reduces Stock Holdings in Sysco Corporation $SYY

Key Points

• Atria Wealth Solutions Inc. reduced its stake in Sysco Corporation by 55.9% in Q2, now holding 30,445 shares valued at approximately $2.3 million.
• Sysco recently announced a quarterly dividend of $0.54 per share, with a dividend yield of 2.7% set to be paid on October 24th.
• Sysco reported a quarterly earnings per share (EPS) of $1.48, surpassing analysts' expectations, and achieved a revenue of $21.14 billion.

Atria Wealth Solutions Inc. decreased its position in Sysco Corporation (NYSE:SYY - Free Report) by 55.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,445 shares of the company's stock after selling 38,559 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Sysco were worth $2,307,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Chung Wu Investment Group LLC bought a new position in Sysco in the second quarter worth $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 bought a new position in Sysco in the first quarter worth $33,000. 1248 Management LLC bought a new position in Sysco in the first quarter worth $35,000. Finally, Cheviot Value Management LLC bought a new position in Sysco in the first quarter worth $34,000. Institutional investors own 83.41% of the company's stock.

Insider Transactions at Sysco

In other news, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction dated 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ronald L. Phillips sold 37,606 shares of Sysco stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total value 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. Over the last ninety days, insiders have sold 92,338 shares of company stock worth $7,439,331. Insiders own 0.56% 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 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. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21.

Sysco (NYSE:SYY - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.09. The business had revenue of $21.14 billion for the quarter, compared to analysts' expectations of $21.01 billion. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The business's revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the firm posted $1.39 earnings per share. 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 Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Weiss Ratings downgraded Sysco from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. UBS Group set a $90.00 price target on Sysco in a research report on Wednesday, July 30th. Bank of America lifted their price target on Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Citigroup lifted their price target on Sysco from $84.00 to $86.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, Guggenheim lifted their price target on Sysco from $87.00 to $89.00 and gave the stock a "buy" rating in a research 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's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $86.46.

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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