Sowell Financial Services LLC Acquires 1,733 Shares of Sysco Corporation $SYY

Sowell Financial Services LLC raised its holdings in Sysco Corporation (NYSE:SYY) by 11.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,780 shares of the company’s stock after buying an additional 1,733 shares during the quarter. Sowell Financial Services LLC’s holdings in Sysco were worth $1,271,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SYY. Boston Partners grew its holdings in shares of Sysco by 24.8% in the 1st quarter. Boston Partners now owns 15,199,828 shares of the company’s stock worth $1,139,798,000 after purchasing an additional 3,015,714 shares during the last quarter. Canoe Financial LP grew its holdings in shares of Sysco by 29,610.4% in the 1st quarter. Canoe Financial LP now owns 1,431,149 shares of the company’s stock worth $107,393,000 after purchasing an additional 1,426,332 shares during the last quarter. Nuveen LLC bought a new stake in shares of Sysco in the 1st quarter worth about $85,341,000. Amundi grew its holdings in shares of Sysco by 36.5% in the 1st quarter. Amundi now owns 3,725,508 shares of the company’s stock worth $280,941,000 after purchasing an additional 995,498 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of Sysco by 1,940.1% in the 1st quarter. Mackenzie Financial Corp now owns 1,016,660 shares of the company’s stock worth $76,290,000 after purchasing an additional 966,826 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on SYY. Barclays upped their target price on shares of Sysco from $77.00 to $82.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. UBS Group set a $90.00 price objective on shares of Sysco in a report on Wednesday, July 30th. Wall Street Zen lowered shares of Sysco from a “buy” rating to a “hold” rating in a report on Saturday, September 13th. Morgan Stanley increased their price objective on shares of Sysco from $72.00 to $77.00 and gave the stock an “equal weight” rating in a report on Monday, July 14th. Finally, Truist Financial increased their price objective on shares of Sysco from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.69.

Insider Buying and Selling

In related news, EVP Greg D. Bertrand sold 40,000 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 56,304 shares of the company’s stock, valued at approximately $4,504,320. This represents a 41.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ronald L. Phillips sold 961 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $81.00, for a total transaction of $77,841.00. Following the transaction, the executive vice president directly owned 41,501 shares of the company’s stock, valued at $3,361,581. This represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,338 shares of company stock valued at $7,439,331. 0.54% of the stock is owned by company insiders.

Sysco Stock Performance

Shares of NYSE:SYY opened at $81.45 on Tuesday. The company has a market capitalization of $39.48 billion, a price-to-earnings ratio of 21.84, a P/E/G ratio of 2.55 and a beta of 0.80. The firm’s 50 day simple moving average is $80.26 and its 200 day simple moving average is $75.62. 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 fifty-two week low of $67.12 and a fifty-two week high of $83.24.

Sysco (NYSE:SYY) last posted 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 return on equity of 109.52% and a net margin of 2.25%.The business had revenue of $21.14 billion during the quarter, compared to analysts’ expectations of $21.01 billion. During the same period in the prior year, the business earned $1.39 EPS. Sysco’s revenue for the quarter was up 2.8% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, sell-side analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently announced 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. This represents a $2.16 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend 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.