MBB Public Markets I LLC Buys New Stake in Sysco Corporation $SYY

Key Points

• MBB Public Markets I LLC acquired 4,430 shares of Sysco Corporation, valued at approximately $332,000, during the first quarter, adding to a trend of increased institutional interest in the company.
• Sysco reported earnings of $1.48 per share, exceeding analyst expectations, and had revenue of $21.14 billion for the quarter, reflecting a year-over-year increase of 2.8%.
• The company announced a quarterly dividend of $0.54 per share, yielding 2.6%, with an ex-dividend date of October 3rd, emphasizing its ongoing commitment to return value to shareholders.

MBB Public Markets I LLC purchased a new stake in shares of Sysco Corporation (NYSE:SYY - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 4,430 shares of the company's stock, valued at approximately $332,000.

Several other large investors also recently modified their holdings of the company. Rialto Wealth Management LLC lifted its holdings in Sysco by 188.7% in the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock valued at $25,000 after acquiring an additional 217 shares during the period. Golden State Wealth Management LLC grew its stake 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 period. N.E.W. Advisory Services LLC purchased a new stake in shares of Sysco during the 1st quarter valued at about $33,000. Capital A Wealth Management LLC bought a new position in shares of Sysco in the 4th quarter worth approximately $34,000. Finally, Cheviot Value Management LLC purchased a new position in shares of Sysco in the first quarter worth approximately $34,000. Institutional investors own 83.41% of the company's stock.

Insider Buying and Selling at Sysco

In related news, EVP Greg D. Bertrand sold 40,000 shares of the company's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the completion of the transaction, the executive vice president owned 56,304 shares in the company, valued at approximately $4,504,320. This represents a 41.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ronald L. Phillips sold 37,606 shares of Sysco stock in a transaction on 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 completion of the sale, the executive vice president owned 30,235 shares in the company, valued at approximately $2,449,035. This represents a 55.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,377 shares of company stock worth $7,361,490 in the last three months. Insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SYY. Wall Street Zen raised shares of Sysco from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Bank of America upped their price objective on Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Barclays raised their target price on Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Wells Fargo & Company set a $88.00 price target on Sysco and gave the company an "overweight" rating in a report on Tuesday, July 29th. Finally, Truist Financial raised their price objective on Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $85.69.

Sysco Price Performance

Shares of Sysco stock traded down $0.60 during trading hours on Wednesday, hitting $80.25. The company's stock had a trading volume of 2,135,835 shares, compared to its average volume of 2,568,599. The company has a market cap of $38.90 billion, a PE ratio of 21.51, a PEG ratio of 2.50 and a beta of 0.80. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. The business has a 50 day moving average price of $79.53 and a two-hundred day moving average price of $75.25. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $83.17.

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, topping the consensus estimate of $1.39 by $0.09. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The firm had revenue of $21.14 billion during the quarter, compared to analysts' expectations of $21.01 billion. During the same quarter last year, the business posted $1.39 earnings per share. The firm's revenue was up 2.8% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Analysts expect that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 2.7%. Sysco's dividend payout ratio (DPR) is presently 57.91%.

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.