Elevation Point Wealth Partners LLC Has $1.11 Million Stake in Sysco Corporation $SYY

Elevation Point Wealth Partners LLC grew its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 390.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 15,549 shares of the company's stock after purchasing an additional 12,381 shares during the period. Elevation Point Wealth Partners LLC's holdings in Sysco were worth $1,109,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Sysco by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company's stock worth $4,591,281,000 after buying an additional 814,270 shares in the last quarter. State Street Corp grew its stake in shares of Sysco by 0.9% in the 3rd quarter. State Street Corp now owns 26,669,576 shares of the company's stock worth $2,195,973,000 after acquiring an additional 246,542 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Sysco by 0.3% in the 3rd quarter. Capital Research Global Investors now owns 18,360,707 shares of the company's stock worth $1,511,821,000 after acquiring an additional 46,040 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Sysco by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company's stock valued at $934,391,000 after purchasing an additional 131,659 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Sysco during the fourth quarter valued at about $542,780,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SYY. UBS Group cut their price target on shares of Sysco from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Thursday, April 2nd. Guggenheim dropped their target price on shares of Sysco from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Thursday, April 2nd. Wall Street Zen downgraded Sysco from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Sanford C. Bernstein reduced their target price on Sysco from $90.00 to $85.00 and set a "market perform" rating for the company in a report on Wednesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft lowered Sysco from a "buy" rating to a "hold" rating and set a $84.00 price target on the stock. in a report on Tuesday, April 28th. Nine research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $88.15.

Insider Activity

In other news, Director John M. Hinshaw purchased 13,304 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were purchased at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the transaction, the director directly owned 40,200 shares of the company's stock, valued at approximately $3,021,834. This represents a 49.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.56% of the stock is currently owned by insiders.

Sysco Stock Performance

NYSE SYY opened at $84.35 on Tuesday. The company has a market capitalization of $40.33 billion, a PE ratio of 23.37, a price-to-earnings-growth ratio of 3.21 and a beta of 0.64. The company has a debt-to-equity ratio of 5.58, a quick ratio of 0.80 and a current ratio of 1.33. Sysco Corporation has a 52-week low of $68.19 and a 52-week high of $91.85. The company has a 50-day simple moving average of $76.88 and a 200 day simple moving average of $78.91.

Sysco (NYSE:SYY - Get Free Report) last released its earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share for the quarter, missing analysts' consensus estimates of $0.95 by ($0.01). The company had revenue of $20.52 billion for the quarter, compared to the consensus estimate of $20.56 billion. Sysco had a net margin of 2.08% and a return on equity of 103.57%. The firm's revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.96 earnings per share. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. On average, research analysts predict that Sysco Corporation will post 4.59 EPS for the current year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Thursday, July 2nd will be given a $0.55 dividend. This is an increase from Sysco's previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Thursday, July 2nd. Sysco's dividend payout ratio (DPR) is 60.94%.

Sysco Profile

Sysco Corporation NYSE: SYY is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.

Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sysco Corporation (NYSE:SYY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.