HB Wealth Management LLC Acquires 4,965 Shares of Sysco Corporation $SYY

Key Points

• HB Wealth Management LLC has increased its holdings in Sysco Corporation by 22.2% during the second quarter, purchasing an additional 4,965 shares, bringing its total holdings to 27,357 shares valued at $2,072,000.
• Sysco recently announced a quarterly dividend of $0.54 per share, which will be paid on October 24th, reflecting an annualized yield of 2.6% and a payout ratio of 57.91%.
• Analysts have provided favorable ratings for Sysco, with multiple firms elevating their target prices, indicating a consensus rating of "Moderate Buy" and an average price target of $85.69.

HB Wealth Management LLC increased its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 22.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,357 shares of the company's stock after buying an additional 4,965 shares during the period. HB Wealth Management LLC's holdings in Sysco were worth $2,072,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Golden State Wealth Management LLC lifted its holdings in shares of Sysco by 48.4% during the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after purchasing an additional 140 shares during the last quarter. Trust Co of the South lifted its holdings in shares of Sysco by 3.0% during the 2nd quarter. Trust Co of the South now owns 4,849 shares of the company's stock valued at $367,000 after purchasing an additional 142 shares during the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of Sysco by 1.6% during the 1st quarter. Chicago Partners Investment Group LLC now owns 8,898 shares of the company's stock valued at $627,000 after purchasing an additional 143 shares during the last quarter. One Wealth Advisors LLC lifted its holdings in shares of Sysco by 3.3% during the 1st quarter. One Wealth Advisors LLC now owns 4,698 shares of the company's stock valued at $353,000 after purchasing an additional 151 shares during the last quarter. Finally, Ballentine Partners LLC lifted its holdings in shares of Sysco by 1.2% during the 2nd quarter. Ballentine Partners LLC now owns 13,324 shares of the company's stock valued at $1,009,000 after purchasing an additional 155 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company's stock.

Insider Transactions at Sysco

In other news, EVP Ronald L. Phillips sold 961 shares of the firm's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $81.00, for a total transaction of $77,841.00. Following the sale, the executive vice president directly owned 41,501 shares in the company, valued at $3,361,581. This trade represents a 2.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Greg D. Bertrand sold 40,000 shares of the firm's stock in a transaction dated 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 sale, the executive vice president owned 56,304 shares in the company, valued at $4,504,320. This trade represents a 41.54% 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 over the last 90 days. Insiders own 0.54% of the company's stock.

Sysco Price Performance

Shares of SYY opened at $83.38 on Friday. The business's 50-day moving average is $80.82 and its two-hundred day moving average is $76.04. The company has a market capitalization of $40.42 billion, a P/E ratio of 22.35, a P/E/G ratio of 2.57 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 fifty-two week low of $67.12 and a fifty-two week high of $83.47.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.09. The company had revenue of $21.14 billion for the quarter, compared to the consensus estimate of $21.01 billion. Sysco had a return on equity of 109.52% and a net margin of 2.25%.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 earned $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Research analysts predict that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be given a dividend of $0.54 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.6%. Sysco's dividend payout ratio (DPR) is 57.91%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SYY shares. UBS Group set a $90.00 price objective on Sysco in a report on Wednesday, July 30th. Truist Financial upped their target price on Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Bank of America upped their target price on Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Wells Fargo & Company set a $88.00 target price on Sysco and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Finally, Barclays upped their target price on Sysco from $77.00 to $82.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $85.69.

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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