Simplicity Wealth LLC Purchases 11,443 Shares of Sysco Corporation $SYY

Key Points

• Simplicity Wealth LLC increased its stake in Sysco Corporation by 70.6%, acquiring an additional 11,443 shares in the second quarter, bringing its total holdings to 27,650 shares worth approximately $2.1 million.
• Sysco's quarterly earnings exceeded analysts' expectations, reporting $1.48 EPS compared to the consensus estimate of $1.39, along with a revenue of $21.14 billion.
• The company announced a quarterly dividend of $0.54 per share, resulting in an annualized yield of 2.6%, with an upcoming payment date set for October 24th.

Simplicity Wealth LLC lifted its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 70.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,650 shares of the company's stock after purchasing an additional 11,443 shares during the quarter. Simplicity Wealth LLC's holdings in Sysco were worth $2,094,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SYY. Boyd Watterson Asset Management LLC OH lifted its position in Sysco by 106.4% during the 1st 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 during the period. Gradient Investments LLC increased its stake in shares of Sysco by 9.2% during the second 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 in the last quarter. Beacon Financial Group lifted its holdings in shares of Sysco by 55.5% during the second quarter. Beacon Financial Group now owns 9,955 shares of the company's stock valued at $754,000 after purchasing an additional 3,554 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Sysco by 2.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 223,510 shares of the company's stock worth $16,772,000 after purchasing an additional 4,932 shares in the last quarter. Finally, Gallacher Capital Management LLC bought a new position in Sysco during the 2nd quarter valued at approximately $730,000. Institutional investors own 83.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on SYY. UBS Group set a $90.00 target price on Sysco in a report on Wednesday, July 30th. Wells Fargo & Company set a $88.00 price target on shares of Sysco and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Sysco in a report on Saturday, September 27th. Wall Street Zen downgraded shares of Sysco from a "buy" rating to a "hold" rating in a research note on Saturday, September 13th. Finally, Morgan Stanley raised their price target on shares of Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $85.69.

Sysco Stock Performance

Shares of NYSE SYY opened at $82.21 on Monday. The firm's 50-day moving average price is $80.86 and its 200-day moving average price is $76.15. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $83.47. The company has a market cap of $39.85 billion, a PE ratio of 22.04, a PEG 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.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.09. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The company had revenue of $21.14 billion for the quarter, compared to the consensus estimate of $21.01 billion. During the same quarter in the prior year, the firm earned $1.39 earnings per share. The firm's revenue for the quarter 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, analysts anticipate that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The company 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 $0.54 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 2.6%. Sysco's dividend payout ratio is currently 57.91%.

Insider Activity

In other news, EVP Ronald L. Phillips sold 961 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were 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 in the company, valued at $3,361,581. This represents a 2.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Greg D. Bertrand sold 40,000 shares of the business's 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 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 have sold a total of 92,338 shares of company stock valued at $7,439,331 in the last ninety days. Insiders own 0.54% of the company's stock.

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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