Hubbell Strickland Wealth Management LLC Sells 165 Shares of Sysco Corporation $SYY

Hubbell Strickland Wealth Management LLC trimmed its stake in Sysco Corporation (NYSE:SYY) by 3.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,084 shares of the company’s stock after selling 165 shares during the period. Hubbell Strickland Wealth Management LLC’s holdings in Sysco were worth $309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in SYY. Golden State Wealth Management LLC boosted its holdings in shares of 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 purchasing an additional 140 shares during the period. N.E.W. Advisory Services LLC purchased a new position in Sysco during the 1st quarter worth $33,000. Cheviot Value Management LLC bought a new position in shares of Sysco during the 1st quarter worth $34,000. 1248 Management LLC bought a new position in shares of Sysco during the 1st quarter worth $35,000. Finally, Banque Transatlantique SA bought a new position in shares of Sysco during the 1st quarter worth $35,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SYY. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Sysco in a research note on Saturday, September 27th. Morgan Stanley boosted their price target on shares of Sysco from $72.00 to $77.00 and gave the company an “equal weight” rating in a report on Monday, July 14th. Truist Financial boosted their price target on shares of Sysco from $81.00 to $90.00 and gave the company a “buy” rating 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. Finally, Wells Fargo & Company set a $88.00 target price on Sysco and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.69.

Insider Activity

In other news, EVP Ronald L. Phillips sold 37,606 shares of the business’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the sale, the executive vice president 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of Sysco 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 owned 56,304 shares of the company’s stock, valued at $4,504,320. This trade represents a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,338 shares of company stock worth $7,439,331 over the last ninety days. 0.54% of the stock is currently owned by corporate insiders.

Sysco Stock Down 1.3%

Shares of Sysco stock opened at $82.21 on Friday. The firm’s 50 day moving average price is $80.86 and its 200-day moving average price is $76.12. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $83.47. The company has a market cap of $39.85 billion, a P/E ratio of 22.04, a PEG ratio of 2.54 and a beta of 0.82.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.09. The company had revenue of $21.14 billion during the quarter, compared to the consensus estimate of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. Sysco’s revenue was up 2.8% compared to the same quarter last year. During the same period last year, the firm earned $1.39 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, sell-side analysts predict that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

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 given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Friday, October 3rd. Sysco’s dividend payout ratio is currently 57.91%.

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.