Hardy Reed LLC Has $213,000 Stock Position in Sysco Corporation $SYY

Key Points

• Hardy Reed LLC has significantly reduced its stake in Sysco Corporation by 82.1%, now holding 2,815 shares valued at $213,000.
• Several hedge funds have increased or initiated positions in Sysco, with a significant majority of the stock (83.41%) owned by institutional investors and hedge funds.
• Sysco recently announced a quarterly dividend of $0.54 per share, providing an annual yield of 2.7%, with a dividend payout ratio of 57.91%.

Hardy Reed LLC lowered its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 82.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,815 shares of the company's stock after selling 12,881 shares during the period. Hardy Reed LLC's holdings in Sysco were worth $213,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Chung Wu Investment Group LLC bought a new position in shares of Sysco during the 2nd quarter worth approximately $30,000. Golden State Wealth Management LLC increased its stake in Sysco by 48.4% during the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock worth $32,000 after acquiring an additional 140 shares during the period. N.E.W. Advisory Services LLC acquired a new position in Sysco in the first quarter valued at about $33,000. 1248 Management LLC bought a new stake in shares of Sysco during the 1st quarter worth approximately $35,000. Finally, Cheviot Value Management LLC bought a new stake in Sysco during the first quarter worth $34,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SYY. Bank of America raised their price target on shares of Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Guggenheim raised their price objective on Sysco from $87.00 to $89.00 and gave the stock a "buy" rating in a research report on Monday. Weiss Ratings reiterated a "buy (b-)" rating on shares of Sysco in a report on Saturday, September 27th. Wall Street Zen downgraded shares of Sysco from a "buy" rating to a "hold" rating in a research report on Saturday, September 13th. Finally, Wells Fargo & Company set a $88.00 price target on Sysco and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $85.85.

Sysco Price Performance

Shares of SYY opened at $80.86 on Tuesday. The firm has a 50-day simple moving average of $80.87 and a two-hundred day simple moving average of $76.22. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $83.47. The stock has a market cap of $38.69 billion, a PE ratio of 21.68, a P/E/G ratio of 2.54 and a beta of 0.82.

Sysco (NYSE:SYY - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.09. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The firm had revenue of $21.14 billion during the quarter, compared to the consensus estimate of $21.01 billion. During the same quarter last year, the firm earned $1.39 EPS. The firm's revenue for the quarter was up 2.8% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, analysts forecast that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Investors 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 (DPR) is 57.91%.

Insider Activity

In other Sysco news, 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 transaction of $3,046,086.00. Following the sale, the executive vice president directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 sale, the executive vice president directly owned 56,304 shares in the company, valued at $4,504,320. This represents a 41.54% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,338 shares of company stock valued at $7,439,331. 0.54% of the stock is currently owned by corporate insiders.

Sysco 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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