Belpointe Asset Management LLC Has $1.73 Million Holdings in Sysco Corporation $SYY

Key Points

• Belpointe Asset Management LLC increased its holdings in Sysco Corporation by 79.0% in Q2, owning 22,888 shares worth approximately $1.73 million.
• Insiders have recently sold a total of 92,338 shares of Sysco, amounting to about $7.44 million within the last ninety days, with significant sales from executives Greg D. Bertrand and Ronald L. Phillips.
• Research analysts maintain a consensus rating of "Moderate Buy" for Sysco, with an average target price of $85.85 following various upgrades from firms like Barclays and Truist Financial.

Belpointe Asset Management LLC grew its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 79.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,888 shares of the company's stock after acquiring an additional 10,099 shares during the quarter. Belpointe Asset Management LLC's holdings in Sysco were worth $1,734,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Chung Wu Investment Group LLC bought a new stake in Sysco during the 2nd quarter valued at $30,000. Golden State Wealth Management LLC increased its position in shares of 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 acquiring an additional 140 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in shares of Sysco in the 1st quarter worth about $33,000. Cheviot Value Management LLC bought a new position in Sysco in the 1st quarter valued at about $34,000. Finally, 1248 Management LLC acquired a new position in Sysco during the 1st quarter valued at about $35,000. 83.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Greg D. Bertrand sold 40,000 shares of the stock in a transaction on 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 completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ronald L. Phillips sold 37,606 shares of the business's 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 completion of the sale, the executive vice president owned 30,235 shares in the company, valued at $2,449,035. This represents a 55.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,338 shares of company stock worth $7,439,331 in the last ninety days. Insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SYY shares. Weiss Ratings restated a "buy (b-)" rating on shares of Sysco in a report on Saturday, September 27th. Barclays raised their price objective on Sysco from $77.00 to $82.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Truist Financial increased their target price on shares of Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Morgan Stanley boosted their price target on shares of Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. Finally, UBS Group set a $90.00 price objective on shares of Sysco in a research note on Wednesday, July 30th. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Sysco has a consensus rating of "Moderate Buy" and an average target price of $85.85.

Sysco Stock Performance

NYSE SYY opened at $80.86 on Tuesday. The company has a market capitalization of $38.69 billion, a PE ratio of 21.68, a price-to-earnings-growth ratio of 2.54 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 Corporation has a 52-week low of $67.12 and a 52-week high of $83.47. The company has a 50-day simple moving average of $80.87 and a 200 day simple moving average of $76.22.

Sysco (NYSE:SYY - Get Free Report) last released its earnings results 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 firm had revenue of $21.14 billion during the quarter, compared to the consensus estimate of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The company's revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, research analysts predict that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Dividend Announcement

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

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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