Salvus Wealth Management LLC Purchases Shares of 4,340 Sysco Corporation $SYY

Key Points

• Salvus Wealth Management LLC invested approximately $329,000 in Sysco Corporation, acquiring 4,340 shares, as detailed in their latest SEC filing.
• Sysco reported earnings of $1.48 per share for the last quarter, surpassing analyst expectations, and announced a quarterly dividend of $0.54 per share with a yield of 2.6%.
• Bank of America increased its price target for Sysco shares from $81.00 to $93.00, reflecting strong analyst support for the stock, with a consensus rating of "Moderate Buy."

Salvus Wealth Management LLC purchased a new position in Sysco Corporation (NYSE:SYY - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 4,340 shares of the company's stock, valued at approximately $329,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Boyd Watterson Asset Management LLC OH boosted its holdings in shares of Sysco by 106.4% in the first quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company's stock valued at $236,000 after acquiring an additional 1,622 shares in the last quarter. Gradient Investments LLC increased its position in shares of Sysco by 9.2% during the 2nd quarter. Gradient Investments LLC now owns 189,169 shares of the company's stock valued at $14,328,000 after purchasing an additional 15,906 shares during the period. Beacon Financial Group lifted its holdings in shares of Sysco by 55.5% in the second quarter. Beacon Financial Group now owns 9,955 shares of the company's stock valued at $754,000 after buying an additional 3,554 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Sysco by 2.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 223,510 shares of the company's stock worth $16,772,000 after acquiring an additional 4,932 shares in the last quarter. Finally, Gallacher Capital Management LLC acquired a new position in shares of Sysco in the 2nd quarter worth approximately $730,000. Institutional investors own 83.41% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SYY. Wells Fargo & Company set a $88.00 price target on shares of Sysco and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Truist Financial increased their price target on Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. UBS Group set a $90.00 price objective on Sysco in a report on Wednesday, July 30th. Barclays upped their price target on shares of Sysco from $77.00 to $82.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Finally, Guggenheim lifted their price objective on shares of Sysco from $85.00 to $87.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $85.69.

Sysco Stock Down 1.1%

SYY traded down $0.94 during trading on Monday, reaching $81.45. 2,391,772 shares of the stock traded hands, compared to its average volume of 2,871,928. The stock's 50-day simple moving average is $80.26 and its two-hundred day simple moving average is $75.62. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $83.24. The stock has a market cap of $39.48 billion, a price-to-earnings ratio of 21.84, a price-to-earnings-growth ratio of 2.55 and a beta of 0.80.

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

Sysco Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, October 3rd. Sysco's dividend payout ratio (DPR) is 57.91%.

Insider Buying and Selling

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 shares were sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the completion of the transaction, the executive vice president owned 30,235 shares of the company's stock, valued at $2,449,035. The trade was a 55.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Greg D. Bertrand sold 40,000 shares of the firm's stock in a transaction dated 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 directly 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 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.

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.