GEM Asset Management LLC Has $32.97 Million Stock Position in Sysco Corporation $SYY

GEM Asset Management LLC cut its stake in shares of Sysco Corporation (NYSE:SYY) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 429,741 shares of the company’s stock after selling 5,877 shares during the quarter. Sysco accounts for 16.9% of GEM Asset Management LLC’s portfolio, making the stock its largest holding. GEM Asset Management LLC owned 0.09% of Sysco worth $32,965,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Rialto Wealth Management LLC boosted its stake in shares of Sysco by 188.7% during the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company’s stock worth $25,000 after acquiring an additional 217 shares in the last quarter. Golden State Wealth Management LLC boosted 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 worth $32,000 after acquiring an additional 140 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Sysco during the 1st quarter worth $33,000. Capital A Wealth Management LLC bought a new stake in shares of Sysco during the 4th quarter worth $34,000. Finally, 1248 Management LLC bought a new stake in shares of Sysco during the 1st quarter worth $35,000. 83.41% of the stock is owned by institutional investors.

Sysco Price Performance

Shares of NYSE:SYY opened at $79.91 on Tuesday. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $83.17. The business has a 50-day moving average of $79.76 and a two-hundred day moving average of $75.39. The stock has a market capitalization of $38.74 billion, a P/E ratio of 21.42, a P/E/G ratio of 2.52 and a beta of 0.80. 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) last announced 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 return on equity of 109.52% and a net margin of 2.25%.The company had revenue of $21.14 billion during the quarter, compared to analysts’ expectations of $21.01 billion. During the same quarter in the previous year, the firm 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 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.7%. Sysco’s payout ratio is presently 57.91%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SYY shares. Barclays raised their price objective on Sysco from $77.00 to $82.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Truist Financial lifted their price target on Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. Citigroup assumed coverage on Sysco in a report on Thursday, May 22nd. They set a “neutral” rating and a $78.00 price target on the stock. Wells Fargo & Company set a $88.00 price target on Sysco and gave the company an “overweight” rating in a report on Tuesday, July 29th. Finally, Bank of America lifted their price target on Sysco from $81.00 to $93.00 and gave the company a “buy” rating in a report on Friday, July 18th. Ten 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 a consensus rating of “Moderate Buy” and an average price target of $85.69.

Insider Transactions at Sysco

In other news, EVP Ronald L. Phillips sold 37,606 shares of Sysco stock in a transaction dated 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 directly owned 30,235 shares in the company, valued at approximately $2,449,035. The trade was a 55.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total value 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. The trade was a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,338 shares of company stock worth $7,439,331 over the last quarter. 0.54% of the stock is currently owned by corporate insiders.

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.