Sysco Corporation $SYY Shares Purchased by Gradient Investments LLC

Key Points

• Gradient Investments LLC increased its holdings in Sysco Corporation by 9.2% in the second quarter, owning a total of 189,169 shares valued at $14.3 million.
• Sysco's recent quarterly earnings reported $1.48 earnings per share, exceeding analysts' expectations and reflecting a 2.8% year-over-year revenue growth to $21.14 billion.
• The company plans to pay a quarterly dividend of $0.54 per share on October 24th, representing an annualized dividend yield of 2.7%.

Gradient Investments LLC lifted its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 9.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 189,169 shares of the company's stock after purchasing an additional 15,906 shares during the period. Gradient Investments LLC's holdings in Sysco were worth $14,328,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. grew its holdings in Sysco by 1.0% during the 1st quarter. Invesco Ltd. now owns 17,070,502 shares of the company's stock worth $1,280,970,000 after acquiring an additional 162,961 shares in the last quarter. Boston Partners raised its position in Sysco by 24.8% in the 1st quarter. Boston Partners now owns 15,199,828 shares of the company's stock valued at $1,139,798,000 after purchasing an additional 3,015,714 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in Sysco by 2.0% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 7,353,551 shares of the company's stock valued at $551,810,000 after purchasing an additional 146,573 shares during the last quarter. Northern Trust Corp raised its position in Sysco by 2.6% in the 1st quarter. Northern Trust Corp now owns 5,828,930 shares of the company's stock valued at $437,403,000 after purchasing an additional 145,477 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Sysco by 8.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,087,250 shares of the company's stock valued at $381,747,000 after buying an additional 391,614 shares during the period. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Stock Down 1.7%

SYY stock opened at $79.91 on Tuesday. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $83.17. 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 company has a market capitalization of $38.74 billion, a P/E ratio of 21.42, a PEG ratio of 2.52 and a beta of 0.80. The firm has a 50 day simple moving average of $79.76 and a 200-day simple moving average of $75.39.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly 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. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The business had revenue of $21.14 billion during the quarter, compared to the consensus estimate of $21.01 billion. During the same quarter last year, the company earned $1.39 earnings per share. The business'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. On average, equities research analysts predict that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be paid 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 (DPR) is 57.91%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wells Fargo & Company set a $88.00 price objective on shares of 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 shares of Sysco in a research note on Wednesday, July 30th. Citigroup started coverage on shares of Sysco in a report on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 target price on the stock. Truist Financial upped their target price on shares of Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Finally, Bank of America increased their price objective on shares of Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $85.69.

Insider Buying and Selling at Sysco

In related news, EVP Greg D. Bertrand sold 40,000 shares of the firm's stock in a transaction on 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 transaction, the executive vice president directly owned 56,304 shares in the company, valued at $4,504,320. This trade represents a 41.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ronald L. Phillips sold 37,606 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total value of $3,046,086.00. Following the transaction, the executive vice president owned 30,235 shares in the company, valued at $2,449,035. This trade represents a 55.43% 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 worth $7,439,331 over the last 90 days. 0.54% 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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