Marks Group Wealth Management Inc Invests $1.19 Million in Sysco Corporation $SYY

Key Points

• Marks Group Wealth Management Inc has invested approximately $1.19 million in Sysco Corporation by acquiring 15,760 shares of the company's stock.
• Several institutional investors, including Merit Financial Group LLC and Simplicity Wealth LLC, have notably increased their holdings in Sysco during the second quarter.
• Analysts have set price targets for Sysco shares ranging from $77.00 to $90.00, with the average price target at $85.85 and a consensus rating of "Moderate Buy."

Marks Group Wealth Management Inc bought a new stake in Sysco Corporation (NYSE:SYY - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,760 shares of the company's stock, valued at approximately $1,194,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Merit Financial Group LLC lifted its holdings in shares of Sysco by 29.0% during the 2nd quarter. Merit Financial Group LLC now owns 51,219 shares of the company's stock worth $3,879,000 after acquiring an additional 11,523 shares during the period. Simplicity Wealth LLC grew its stake in shares of Sysco by 70.6% in the 2nd quarter. Simplicity Wealth LLC now owns 27,650 shares of the company's stock valued at $2,094,000 after purchasing an additional 11,443 shares during the period. Clarius Group LLC raised its holdings in shares of Sysco by 61.6% in the 2nd quarter. Clarius Group LLC now owns 7,487 shares of the company's stock worth $567,000 after buying an additional 2,855 shares in the last quarter. AMF Tjanstepension AB boosted its stake in Sysco by 66.8% in the 2nd quarter. AMF Tjanstepension AB now owns 264,581 shares of the company's stock valued at $20,039,000 after buying an additional 105,991 shares in the last quarter. Finally, QRG Capital Management Inc. grew its position in Sysco by 8.5% in the second quarter. QRG Capital Management Inc. now owns 19,714 shares of the company's stock valued at $1,493,000 after acquiring an additional 1,552 shares during the period. Institutional investors own 83.41% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on SYY. Truist Financial upped their target price on shares of Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. UBS Group set a $90.00 price objective on shares of Sysco in a report on Wednesday, July 30th. Morgan Stanley increased their price target on Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Sysco in a research report on Saturday, September 27th. Finally, Wall Street Zen lowered Sysco from a "buy" rating to a "hold" rating in a research note on Saturday, September 13th. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Sysco has an average rating of "Moderate Buy" and an average price target of $85.85.

Sysco Price Performance

Sysco stock opened at $80.86 on Tuesday. The business's 50-day simple moving average is $80.87 and its 200 day simple moving average is $76.22. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. The stock has a market cap of $38.69 billion, a price-to-earnings ratio of 21.68, a P/E/G ratio of 2.54 and a beta of 0.82. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $83.47.

Sysco (NYSE:SYY - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 2.25% and a return on equity of 109.52%. The company's revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, research analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Shareholders 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 of this dividend is Friday, October 3rd. Sysco's payout ratio is currently 57.91%.

Insider Buying and Selling at Sysco

In other Sysco news, 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 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 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 the SEC website. Also, EVP Ronald L. Phillips sold 961 shares of the business's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $81.00, for a total value of $77,841.00. Following the transaction, the executive vice president owned 41,501 shares of the company's stock, valued at $3,361,581. The trade was a 2.26% 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 valued at $7,439,331 in the last quarter. Corporate insiders own 0.54% of the company's stock.

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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