Tectonic Advisors LLC Buys Shares of 6,395 Sysco Corporation $SYY

Key Points

• Tectonic Advisors LLC recently acquired 6,395 shares of Sysco Corporation, valued at approximately $484,000, during the second quarter.
• Sysco reported $1.48 EPS for the last quarter, exceeding expectations, along with a revenue of $21.14 billion.
• The company declared a $0.54 quarterly dividend with an annualized yield of 2.8%, set to be paid on October 24th.

Tectonic Advisors LLC bought a new stake in Sysco Corporation (NYSE:SYY - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,395 shares of the company's stock, valued at approximately $484,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYY. Chung Wu Investment Group LLC purchased a new stake in shares of Sysco during the 2nd quarter valued at approximately $30,000. Golden State Wealth Management LLC lifted its stake 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 buying an additional 140 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in shares of Sysco during the 1st quarter valued at approximately $33,000. 1248 Management LLC purchased a new stake in shares of Sysco during the 1st quarter valued at approximately $35,000. Finally, Cheviot Value Management LLC purchased a new stake in shares of Sysco during the 1st quarter valued at approximately $34,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Price Performance

Shares of NYSE:SYY opened at $78.44 on Friday. The company's fifty day moving average price is $80.81 and its 200-day moving average price is $76.37. The firm has a market capitalization of $37.53 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 2.42 and a beta of 0.82. Sysco Corporation has a one year low of $67.12 and a one year high of $83.47. 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 (NYSE:SYY - Get Free Report) last issued its quarterly earnings results 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 analyst estimates of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The business's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, equities research analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Stockholders 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 dividend yield of 2.8%. Sysco's dividend payout ratio is presently 57.91%.

Insiders Place Their Bets

In related news, EVP Ronald L. Phillips sold 37,606 shares of the 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 transaction, the executive vice president owned 30,235 shares of the company's stock, valued at approximately $2,449,035. This trade represents a 55.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Greg D. Bertrand sold 40,000 shares of the stock in a transaction 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 92,338 shares of company stock worth $7,439,331 in the last three months. Insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

SYY has been the topic of a number of recent research reports. Truist Financial upped their price target on shares of Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Weiss Ratings cut shares of Sysco from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday. UBS Group set a $90.00 target price on shares of Sysco in a research note on Wednesday, July 30th. Guggenheim increased their target price on shares of Sysco from $87.00 to $89.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Wells Fargo & Company set a $88.00 target price on shares of Sysco and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $85.85.

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.

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