Merit Financial Group LLC Has $3.88 Million Position in Sysco Corporation $SYY

Key Points

• Merit Financial Group LLC increased its stake in Sysco Corporation by 29.0%, owning 51,219 shares valued at approximately $3.88 million at the end of the second quarter.
• Sysco reported a quarterly earnings per share (EPS) of $1.48, exceeding analyst expectations of $1.39, with revenues of $21.14 billion, representing a 2.8% increase year-over-year.
• The company declared a quarterly dividend of $0.54 per share, scheduled to be paid on October 24th, reflecting an annualized yield of 2.7%.

Merit Financial Group LLC increased its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 29.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,219 shares of the company's stock after acquiring an additional 11,523 shares during the quarter. Merit Financial Group LLC's holdings in Sysco were worth $3,879,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC increased its position in Sysco by 48.4% in the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after buying an additional 140 shares in the last quarter. Trust Co of the South raised its position in shares of Sysco by 3.0% during the second quarter. Trust Co of the South now owns 4,849 shares of the company's stock worth $367,000 after purchasing an additional 142 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in shares of Sysco by 1.6% in the 1st quarter. Chicago Partners Investment Group LLC now owns 8,898 shares of the company's stock worth $627,000 after purchasing an additional 143 shares in the last quarter. BSW Wealth Partners grew its position in Sysco by 2.3% in the 2nd quarter. BSW Wealth Partners now owns 6,449 shares of the company's stock valued at $488,000 after purchasing an additional 146 shares during the period. Finally, One Wealth Advisors LLC increased its stake in 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 in the last quarter. 83.41% of the stock is owned by institutional investors.

Sysco Stock Performance

SYY stock opened at $80.86 on Tuesday. The firm has a market cap of $38.69 billion, a PE ratio of 21.68, a P/E/G ratio of 2.54 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. The business has a 50 day moving average of $80.87 and a 200-day moving average of $76.22. 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 issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.09. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The business had revenue of $21.14 billion for the quarter, compared to analyst estimates of $21.01 billion. During the same period last year, the company posted $1.39 earnings per share. Sysco'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. As a group, sell-side analysts expect that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Investors 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 yield of 2.7%. Sysco's dividend payout ratio is presently 57.91%.

Analysts Set New Price Targets

A number of research firms have weighed in on SYY. Wall Street Zen lowered shares of Sysco from a "buy" rating to a "hold" rating in a research note on Saturday, September 13th. Bank of America raised their price target on shares of 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 price objective on Sysco and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Guggenheim raised their target price on Sysco from $87.00 to $89.00 and gave the company a "buy" rating in a report on Monday. Finally, Truist Financial lifted 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. Eleven 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 has an average rating of "Moderate Buy" and an average price target of $85.85.

Insider Transactions at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 961 shares of Sysco stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $81.00, for a total value of $77,841.00. Following the sale, the executive vice president owned 41,501 shares of the company's stock, valued at approximately $3,361,581. The trade was a 2.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Greg D. Bertrand sold 40,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president directly owned 56,304 shares of the company's stock, valued at $4,504,320. This represents a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,338 shares of company stock valued at $7,439,331 in the last 90 days. 0.54% of the stock is currently owned by corporate insiders.

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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