Axxcess Wealth Management LLC Buys 7,341 Shares of Sysco Corporation $SYY

Key Points

• Axxcess Wealth Management LLC increased its stake in Sysco Corporation by 160.1%, purchasing an additional 7,341 shares to own a total of 11,927 shares valued at $903,000.
• Sysco reported a quarterly earnings per share (EPS) of $1.48, exceeding analysts' expectations, with a revenue of $21.14 billion for the quarter.
• The company announced a quarterly dividend of $0.54 per share payable on October 24th, representing an annualized dividend yield of 2.7%.

Axxcess Wealth Management LLC boosted its stake in Sysco Corporation (NYSE:SYY - Free Report) by 160.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,927 shares of the company's stock after purchasing an additional 7,341 shares during the period. Axxcess Wealth Management LLC's holdings in Sysco were worth $903,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Ellis Investment Partners LLC raised its position in shares of Sysco by 4.9% during the 2nd quarter. Ellis Investment Partners LLC now owns 2,820 shares of the company's stock valued at $214,000 after buying an additional 133 shares in the last quarter. Golden State Wealth Management LLC raised its position in shares of Sysco by 48.4% during the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after buying an additional 140 shares in the last quarter. Trust Co of the South raised its position in shares of Sysco by 3.0% during the 2nd quarter. Trust Co of the South now owns 4,849 shares of the company's stock valued at $367,000 after buying an additional 142 shares in the last quarter. NorthRock Partners LLC raised its position in Sysco by 2.2% in the 2nd quarter. NorthRock Partners LLC now owns 6,514 shares of the company's stock worth $493,000 after purchasing an additional 142 shares during the period. Finally, Chicago Partners Investment Group LLC raised its position in Sysco by 1.6% in the 1st quarter. Chicago Partners Investment Group LLC now owns 8,898 shares of the company's stock worth $627,000 after purchasing an additional 143 shares during the period. Institutional investors own 83.41% of the company's stock.

Sysco Stock Performance

Shares of NYSE:SYY opened at $78.78 on Friday. The firm has a market cap of $37.70 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 2.47 and a beta of 0.82. The firm's 50 day simple moving average is $80.75 and its 200-day simple moving average is $76.51. Sysco Corporation has a one year low of $67.12 and a one year 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.

Sysco (NYSE:SYY - Get Free Report) last issued its 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. The business had revenue of $21.14 billion for the quarter, compared to analyst estimates of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The company's quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company posted $1.39 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, equities analysts predict that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Announces Dividend

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

Insider Buying and Selling

In other news, EVP Ronald L. Phillips sold 37,606 shares of the stock in a transaction that occurred 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. This trade represents a 55.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Greg D. Bertrand sold 40,000 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president owned 56,304 shares in the company, valued at approximately $4,504,320. This represents a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,338 shares of company stock worth $7,439,331. Insiders own 0.56% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Weiss Ratings lowered shares of Sysco from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, October 8th. Truist Financial increased their price objective on shares of Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Bank of America increased their price objective on shares of Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Wells Fargo & Company set a $88.00 price objective on shares of Sysco and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Finally, UBS Group set a $90.00 price objective on shares of Sysco in a research report on Wednesday, July 30th. Ten 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, Sysco currently has an average rating of "Moderate Buy" and a consensus target price of $86.46.

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.

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