Empowered Funds LLC Has $5.44 Million Stock Holdings in Sysco Corporation $SYY

Key Points

• Empowered Funds LLC increased its stake in Sysco Corporation by 31.6%, acquiring an additional 17,393 shares during the first quarter, bringing its total holdings to 72,459 shares worth $5,437,000.
• Sysco announced a quarterly dividend of $0.54 per share, expected to be paid on October 24th, which reflects an annualized yield of 2.7%.
• Several brokerages have given positive ratings for Sysco, with a consensus price target of $85.69 and multiple analyst upgrades, indicating strong investor interest in the stock.

Empowered Funds LLC raised its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 31.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,459 shares of the company's stock after purchasing an additional 17,393 shares during the quarter. Empowered Funds LLC's holdings in Sysco were worth $5,437,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rialto Wealth Management LLC lifted its stake in Sysco by 188.7% in the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock valued at $25,000 after buying an additional 217 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in Sysco by 48.4% in the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after acquiring an additional 140 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in Sysco in the 1st quarter valued at $33,000. Capital A Wealth Management LLC acquired a new position in Sysco in the 4th quarter valued at $34,000. Finally, Cheviot Value Management LLC acquired a new position in Sysco in the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 83.41% of the company's stock.

Insider Activity at Sysco

In related news, EVP Ronald L. Phillips sold 961 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $81.00, for a total value of $77,841.00. Following the completion of the sale, the executive vice president owned 41,501 shares in the company, valued at approximately $3,361,581. This trade represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the 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 completion of the transaction, the executive vice president directly owned 56,304 shares of the company's stock, valued at $4,504,320. This trade represents a 41.54% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,338 shares of company stock valued at $7,439,331. 0.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on SYY shares. Citigroup started coverage on Sysco in a report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 price objective for the company. Truist Financial upped their price objective on shares of Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Wall Street Zen cut shares of Sysco from a "buy" rating to a "hold" rating in a research report on Saturday. Morgan Stanley upped their price objective on shares of Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. Finally, Barclays increased their price target on shares of Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Sysco has a consensus rating of "Moderate Buy" and an average target price of $85.69.

Sysco Stock Performance

Shares of NYSE:SYY traded up $0.33 during trading hours on Friday, hitting $81.37. The stock had a trading volume of 2,415,722 shares, compared to its average volume of 2,407,836. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $83.17. 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 firm has a market capitalization of $39.44 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 2.52 and a beta of 0.80. The stock's fifty day simple moving average is $79.70 and its 200 day simple moving average is $75.35.

Sysco (NYSE:SYY - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.09. The firm had revenue of $21.14 billion during the quarter, compared to analysts' expectations of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The firm's revenue for the quarter was up 2.8% compared to the same quarter last year. 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. Sell-side analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

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