Sysco Corporation $SYY Shares Sold by Prime Capital Investment Advisors LLC

Key Points

• Prime Capital Investment Advisors LLC reduced its stake in Sysco Corporation by 43.0%, owning 4,649 shares worth $352,000 after selling 3,508 shares in the 2nd quarter.
• Sysco reported a quarterly revenue of $21.14 billion, exceeding analysts' expectations, with an EPS of $1.48 for the quarter.
• The company announced a $0.54 quarterly dividend, with a dividend yield of 2.8%, to be paid on October 24th to shareholders recorded by October 3rd.

Prime Capital Investment Advisors LLC reduced its stake in Sysco Corporation (NYSE:SYY - Free Report) by 43.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,649 shares of the company's stock after selling 3,508 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in Sysco were worth $352,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Boyd Watterson Asset Management LLC OH increased its position in shares of Sysco by 106.4% in the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company's stock valued at $236,000 after purchasing an additional 1,622 shares during the last quarter. Gradient Investments LLC increased its position in shares of Sysco by 9.2% in 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 last quarter. Beacon Financial Group increased its position in shares of Sysco by 55.5% in the 2nd 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 increased 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 valued at $16,772,000 after purchasing an additional 4,932 shares during the last quarter. Finally, Gallacher Capital Management LLC purchased a new stake in shares of Sysco in the 2nd quarter valued at approximately $730,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Up 0.5%

Shares of NYSE:SYY opened at $78.44 on Friday. The stock has a market cap of $37.53 billion, a P/E ratio of 21.03, a P/E/G ratio of 2.43 and a beta of 0.82. The firm has a fifty day moving average price of $80.81 and a 200 day moving average price of $76.39. 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 1-year low of $67.12 and a 1-year 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 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.09. The firm had revenue of $21.14 billion during the quarter, compared to analysts' expectations of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. Sysco's quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Sell-side analysts predict that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, October 3rd. Sysco's dividend payout ratio (DPR) is 57.91%.

Insider Buying and Selling at Sysco

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

Analyst Upgrades and Downgrades

SYY has been the topic of a number of recent analyst reports. Morgan Stanley increased their price objective 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. UBS Group set a $90.00 target price on shares of Sysco in a research report on Wednesday, July 30th. Truist Financial increased their target price on shares of Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Weiss Ratings downgraded shares of Sysco from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday. Finally, Guggenheim increased their target price on shares of Sysco from $87.00 to $89.00 and gave the company a "buy" rating in a research report on Monday, October 6th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Sysco currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.85.

About Sysco

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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