Leo Wealth LLC Makes New Investment in Sysco Corporation $SYY

Key Points

• Leo Wealth LLC has made a new investment in Sysco Corporation by acquiring 4,444 shares valued at approximately $336,000 in the second quarter.
• Wall Street analysts are optimistic about Sysco's growth, with several raising their price targets and giving it a consensus rating of “Moderate Buy” and a price target of $85.85.
• Sysco has reported earnings of $1.48 per share, surpassing expectations, and has set a quarterly dividend of $0.54 to be paid on October 24th.

Leo Wealth LLC bought a new position in Sysco Corporation (NYSE:SYY - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,444 shares of the company's stock, valued at approximately $336,000.

A number of other hedge funds have also added to or reduced their stakes in SYY. Farther Finance Advisors LLC increased its holdings in Sysco by 30.9% in the first quarter. Farther Finance Advisors LLC now owns 5,502 shares of the company's stock worth $415,000 after purchasing an additional 1,298 shares in the last quarter. Focus Financial Network Inc. increased its holdings in Sysco by 5.9% in the first quarter. Focus Financial Network Inc. now owns 3,994 shares of the company's stock worth $300,000 after purchasing an additional 221 shares in the last quarter. Verity & Verity LLC increased its holdings in Sysco by 6.1% in the first quarter. Verity & Verity LLC now owns 7,029 shares of the company's stock worth $527,000 after purchasing an additional 402 shares in the last quarter. Everhart Financial Group Inc. increased its holdings in shares of Sysco by 12.1% during the first quarter. Everhart Financial Group Inc. now owns 5,871 shares of the company's stock valued at $441,000 after acquiring an additional 632 shares in the last quarter. Finally, Stanley Laman Group Ltd. increased its holdings in shares of Sysco by 1.4% during the first quarter. Stanley Laman Group Ltd. now owns 46,459 shares of the company's stock valued at $3,486,000 after acquiring an additional 660 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SYY. Guggenheim boosted their price objective on Sysco from $87.00 to $89.00 and gave the company a "buy" rating in a report on Monday. Morgan Stanley boosted their price objective on Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Truist Financial boosted their price objective on Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Barclays boosted their price objective on Sysco from $77.00 to $82.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Finally, UBS Group set a $90.00 price objective on Sysco in a report on Wednesday, July 30th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $85.85.

Sysco Stock Up 0.5%

Shares of NYSE:SYY opened at $78.44 on Friday. The stock has a market cap of $37.53 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 2.42 and a beta of 0.82. 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 12-month low of $67.12 and a 12-month high of $83.47. The business's 50 day moving average is $80.81 and its 200 day moving average is $76.37.

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

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 3rd will be given a $0.54 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.16 annualized dividend and a yield of 2.8%. Sysco's payout ratio is currently 57.91%.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 37,606 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total value of $3,046,086.00. Following the transaction, the executive vice president owned 30,235 shares of the company's stock, valued at approximately $2,449,035. The trade was a 55.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Greg D. Bertrand sold 40,000 shares of the business'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 sale, the executive vice president owned 56,304 shares in the company, valued at approximately $4,504,320. The trade was a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 92,338 shares of company stock worth $7,439,331. Insiders own 0.54% of the company's stock.

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.

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