Moran Wealth Management LLC Purchases 54,624 Shares of Sysco Corporation $SYY

Key Points

• Moran Wealth Management LLC increased its holdings in Sysco Corporation by 54,624 shares, bringing its total ownership to 181,178 shares, valued at approximately $13.72 million.
• Multiple brokerages have upgraded Sysco's rating and increased price targets, with Barclays raising its target from $77 to $82 and Bank of America setting a new target of $93.
• Sysco announced a quarterly dividend of $0.54 per share, with an ex-dividend date set for October 3rd, leading to an annual yield of 2.8%.

Moran Wealth Management LLC grew its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 43.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 181,178 shares of the company's stock after purchasing an additional 54,624 shares during the quarter. Moran Wealth Management LLC's holdings in Sysco were worth $13,722,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Chung Wu Investment Group LLC bought a new position in shares of Sysco during the 2nd quarter valued at about $30,000. Golden State Wealth Management LLC increased its position 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 last quarter. N.E.W. Advisory Services LLC bought a new position in shares of Sysco during the first quarter valued at about $33,000. Cheviot Value Management LLC bought a new position in shares of Sysco during the first quarter valued at about $34,000. Finally, 1248 Management LLC bought a new position in shares of Sysco during the first quarter valued at about $35,000. 83.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SYY. Barclays raised their price objective on Sysco from $77.00 to $82.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Wells Fargo & Company set a $88.00 price objective on Sysco and gave the company an "overweight" rating in a research note on Tuesday, July 29th. UBS Group set a $90.00 price objective on Sysco in a research note on Wednesday, July 30th. Wall Street Zen raised Sysco from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Bank of America raised their price objective on Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $85.85.

Sysco Stock Performance

Sysco stock opened at $78.21 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75. The firm has a 50-day moving average of $80.79 and a 200-day moving average of $76.44. The firm has a market cap of $37.42 billion, a P/E ratio of 20.97, a P/E/G ratio of 2.43 and a beta of 0.82. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $83.47.

Sysco (NYSE:SYY - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.09. The company had revenue of $21.14 billion during the quarter, compared to analyst estimates of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. Sysco's revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.39 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Sell-side analysts expect that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The business also recently disclosed 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 is Friday, October 3rd. This represents a $2.16 annualized dividend and a yield of 2.8%. Sysco's dividend payout ratio (DPR) is 57.91%.

Insider Activity

In other Sysco news, EVP Ronald L. Phillips sold 961 shares of the firm's 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 completion of the sale, the executive vice president directly owned 41,501 shares in the company, valued at $3,361,581. This trade represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Greg D. Bertrand sold 40,000 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the completion of the sale, the executive vice president owned 56,304 shares of the company's stock, valued at $4,504,320. This trade represents a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,338 shares of company stock valued at $7,439,331 over the last 90 days. 0.56% of the stock is currently owned by company insiders.

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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