Total Clarity Wealth Management Inc. Invests $368,000 in Sysco Corporation $SYY

Key Points

• Total Clarity Wealth Management Inc. invested approximately $368,000 in Sysco Corporation by acquiring 4,864 shares during the second quarter.
• Recent insider sales saw EVP Ronald L. Phillips and EVP Greg D. Bertrand sell a significant number of shares, reducing their ownership by 55.43% and 41.54% respectively.
• Sysco's stock is currently rated as a "Moderate Buy" by analysts, with target prices ranging from $77.00 to $90.00 following recent upgrades from firms like Guggenheim and Truist Financial.

Total Clarity Wealth Management Inc. bought a new stake in Sysco Corporation (NYSE:SYY - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,864 shares of the company's stock, valued at approximately $368,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Ellis Investment Partners LLC increased its stake in Sysco by 4.9% in the second quarter. Ellis Investment Partners LLC now owns 2,820 shares of the company's stock valued at $214,000 after acquiring an additional 133 shares during the period. Golden State Wealth Management LLC increased its stake in Sysco by 48.4% in the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after acquiring an additional 140 shares during the period. Trust Co of the South increased its stake in Sysco by 3.0% in the second quarter. Trust Co of the South now owns 4,849 shares of the company's stock valued at $367,000 after acquiring an additional 142 shares during the period. Chicago Partners Investment Group LLC increased its stake in Sysco by 1.6% in the first quarter. Chicago Partners Investment Group LLC now owns 8,898 shares of the company's stock valued at $627,000 after acquiring an additional 143 shares during the period. Finally, BSW Wealth Partners increased its stake in Sysco by 2.3% in the second quarter. BSW Wealth Partners now owns 6,449 shares of the company's stock valued at $488,000 after acquiring an additional 146 shares during the period. Institutional investors own 83.41% of the company's stock.

Insider Buying and Selling

In related news, EVP Ronald L. Phillips sold 37,606 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total value of $3,046,086.00. Following the transaction, the executive vice president directly owned 30,235 shares in the company, valued at $2,449,035. This represents a 55.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Greg D. Bertrand sold 40,000 shares of the 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 completion of the transaction, the executive vice president owned 56,304 shares in the company, valued at $4,504,320. This represents a 41.54% 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 quarter. 0.56% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on SYY shares. Guggenheim upped their price objective on shares of Sysco from $87.00 to $89.00 and gave the stock a "buy" rating in a research note on Monday, October 6th. Weiss Ratings cut shares of Sysco from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Sysco from a "hold" rating to a "buy" rating in a research note on Saturday. Truist Financial upped their price objective on shares of Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Finally, Morgan Stanley upped their price objective on shares of Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $85.85.

Sysco Price Performance

Shares of SYY stock opened at $78.21 on Tuesday. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $83.47. The firm's 50 day moving average is $80.79 and its 200-day moving average is $76.44. The firm has a market capitalization of $37.42 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 2.43 and a beta of 0.82. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75.

Sysco (NYSE:SYY - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) 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 company had revenue of $21.14 billion for the quarter, compared to analyst estimates of $21.01 billion. During the same period in the prior year, the business earned $1.39 earnings per share. Sysco's quarterly revenue was up 2.8% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Sell-side analysts forecast that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, October 3rd. Sysco's dividend payout ratio is presently 57.91%.

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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