International Assets Investment Management LLC Acquires New Position in Sysco Corporation $SYY

Key Points

• International Assets Investment Management LLC has acquired a new stake in Sysco Corporation, purchasing 124,280 shares valued at approximately $9,413,000 in the second quarter.
• Research analysts have indicated a positive outlook, with ten analysts recommending a Buy rating and raising target prices for Sysco's stock, reflecting an average target of $86.46.
• Sysco recently declared a quarterly dividend of $0.54 per share, contributing to an annualized dividend yield of 2.7%.

International Assets Investment Management LLC acquired a new stake in shares of Sysco Corporation (NYSE:SYY - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 124,280 shares of the company's stock, valued at approximately $9,413,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SYY. Wealth Enhancement Advisory Services LLC lifted its holdings in Sysco by 2.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 223,510 shares of the company's stock valued at $16,772,000 after buying an additional 4,932 shares in the last quarter. Dynamic Advisor Solutions LLC bought a new stake in Sysco during the 1st quarter valued at about $202,000. State of Alaska Department of Revenue increased its position in Sysco by 2.3% during the 1st quarter. State of Alaska Department of Revenue now owns 57,319 shares of the company's stock valued at $4,301,000 after purchasing an additional 1,305 shares during the period. Johnson Investment Counsel Inc. increased its position in Sysco by 5.6% during the 1st quarter. Johnson Investment Counsel Inc. now owns 12,721 shares of the company's stock valued at $955,000 after purchasing an additional 673 shares during the period. Finally, Premier Path Wealth Partners LLC increased its position in Sysco by 3.9% during the 1st quarter. Premier Path Wealth Partners LLC now owns 4,698 shares of the company's stock valued at $353,000 after purchasing an additional 176 shares during the period. Institutional investors own 83.41% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Wall Street Zen raised shares of Sysco from a "hold" rating to a "buy" rating in a research report on Saturday, October 11th. Barclays raised their target price 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. Guggenheim raised their target price on shares of Sysco from $87.00 to $89.00 and gave the company a "buy" rating in a research report on Monday, October 6th. Citigroup raised their target price on shares of Sysco from $84.00 to $86.00 and gave the company a "neutral" rating in a research report on Wednesday. Finally, Morgan Stanley raised their target price 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. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $86.46.

Insiders Place Their Bets

In other Sysco news, EVP Greg D. Bertrand sold 40,000 shares of the firm's stock in a transaction 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 completion of 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 is accessible through the SEC website. Also, EVP Ronald L. Phillips sold 37,606 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the completion of the transaction, the executive vice president directly owned 30,235 shares of the company's stock, valued at approximately $2,449,035. This represents a 55.43% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,338 shares of company stock valued at $7,439,331. Corporate insiders own 0.56% of the company's stock.

Sysco Stock Up 1.4%

Shares of Sysco stock opened at $79.92 on Friday. The firm's 50 day moving average price is $80.73 and its 200-day moving average price is $76.55. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $83.47. The company has a market cap of $38.24 billion, a P/E ratio of 21.42, a PEG ratio of 2.47 and a beta of 0.82.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $21.01 billion. During the same quarter in the previous year, the firm earned $1.39 EPS. The company's quarterly revenue was up 2.8% compared to the same quarter last year. 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 EPS for the current fiscal year.

Sysco Announces Dividend

The business 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 $0.54 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.7%. Sysco's dividend payout ratio (DPR) is currently 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.

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