OneAscent Financial Services LLC Purchases New Position in Sysco Corporation $SYY

OneAscent Financial Services LLC bought a new position in Sysco Corporation (NYSE:SYY) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 6,342 shares of the company’s stock, valued at approximately $530,000.

Several other hedge funds have also recently modified their holdings of SYY. Lloyd Advisory Services LLC. purchased a new stake in Sysco during the 4th quarter valued at $25,000. Motiv8 Investments LLC purchased a new position in shares of Sysco in the 4th quarter worth $25,000. Sunbelt Securities Inc. grew its holdings in shares of Sysco by 87.6% in the first quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock worth $26,000 after acquiring an additional 170 shares during the period. Torren Management LLC purchased a new stake in Sysco during the fourth quarter valued at $27,000. Finally, Bard Associates Inc. bought a new position in Sysco in the fourth quarter valued at about $27,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Trading Up 0.9%

Shares of SYY stock opened at $83.21 on Friday. The company has a debt-to-equity ratio of 4.62, a quick ratio of 0.77 and a current ratio of 1.28. The stock has a fifty day simple moving average of $82.55 and a two-hundred day simple moving average of $80.62. The firm has a market capitalization of $39.84 billion, a PE ratio of 22.74, a PEG ratio of 2.82 and a beta of 0.64. Sysco Corporation has a 52-week low of $68.19 and a 52-week high of $91.85.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.51 by $0.02. The business had revenue of $22.12 billion for the quarter, compared to the consensus estimate of $21.95 billion. Sysco had a return on equity of 95.05% and a net margin of 2.08%.The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.48 earnings per share. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. On average, analysts predict that Sysco Corporation will post 5.1 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 2nd will be issued a $0.55 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 2.6%. Sysco’s payout ratio is currently 60.11%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Citigroup increased their price objective on shares of Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Barclays cut their target price on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Melius Research cut shares of Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft downgraded shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a research report on Tuesday, April 28th. Finally, UBS Group lifted their price target on shares of Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Nine investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $89.50.

Insider Activity at Sysco

In other news, EVP Ronald L. Phillips sold 6,285 shares of Sysco stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $83.94, for a total transaction of $527,562.90. Following the sale, the executive vice president owned 39,970 shares in the company, valued at $3,355,081.80. This trade represents a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John M. Hinshaw bought 13,304 shares of the stock in a transaction dated Tuesday, May 26th. The stock was bought at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the acquisition, the director directly owned 40,200 shares of the company’s stock, valued at approximately $3,021,834. This represents a 49.46% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.56% of the company’s stock.

Sysco Company Profile

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.