Focus Partners Wealth Raises Stake in Sysco Corporation $SYY

Key Points

• Focus Partners Wealth raised its holdings in Sysco Corporation by 13.4% during the first quarter, now owning approximately 1,022,679 shares worth about $76.74 million.
• Recent sales by insiders included 40,000 shares sold by EVP Greg D. Bertrand at a total transaction value of $3.2 million and 37,606 shares sold by EVP Ronald L. Phillips.
• Sysco reported $1.48 earnings per share for the last quarter, exceeding expectations and reflecting a revenue increase of 2.8% compared to the previous year.

Focus Partners Wealth lifted its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 13.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,022,679 shares of the company's stock after purchasing an additional 120,740 shares during the period. Focus Partners Wealth owned 0.21% of Sysco worth $76,742,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Integrity Alliance LLC. purchased a new position in Sysco in the 1st quarter worth approximately $710,000. Ransom Advisory Ltd purchased a new stake in shares of Sysco in the 1st quarter valued at $252,000. Advisory Alpha LLC boosted its stake in shares of Sysco by 28.3% in the 1st quarter. Advisory Alpha LLC now owns 4,103 shares of the company's stock valued at $308,000 after purchasing an additional 906 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Sysco by 8.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,087,250 shares of the company's stock valued at $381,747,000 after purchasing an additional 391,614 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of Sysco by 31.6% in the 1st quarter. Empowered Funds LLC now owns 72,459 shares of the company's stock valued at $5,437,000 after purchasing an additional 17,393 shares in the last quarter. Institutional investors own 83.41% of the company's stock.

Insider Buying and Selling

In related news, EVP Greg D. Bertrand sold 40,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total value of $3,200,000.00. Following the transaction, the executive vice president owned 56,304 shares of the company's stock, valued at approximately $4,504,320. This trade represents a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ronald L. Phillips sold 961 shares of Sysco stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $81.00, for a total transaction of $77,841.00. Following the transaction, the executive vice president directly owned 41,501 shares in the company, valued at $3,361,581. This represents a 2.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,338 shares of company stock valued at $7,439,331 over the last quarter. Company insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

SYY has been the subject of several analyst reports. Guggenheim increased their price target on shares of Sysco from $85.00 to $87.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Truist Financial increased their price target 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. JPMorgan Chase & Co. increased their price target on shares of Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Barclays increased their price target on shares of Sysco from $77.00 to $82.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Finally, Bank of America increased their price target on shares of Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $85.69.

Sysco Trading Up 0.4%

NYSE SYY traded up $0.33 during trading on Friday, hitting $81.37. The company had a trading volume of 2,415,722 shares, compared to its average volume of 2,483,940. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75. Sysco Corporation has a one year low of $67.12 and a one year high of $83.17. The company has a market cap of $39.44 billion, a price-to-earnings ratio of 21.81, a price-to-earnings-growth ratio of 2.51 and a beta of 0.80. The company's fifty day moving average is $79.70 and its 200-day moving average is $75.35.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly 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 company had revenue of $21.14 billion during 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%. Sysco's quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the business earned $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, sell-side analysts predict that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.7%. Sysco's payout ratio is currently 57.91%.

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.