Moran Wealth Management LLC Sells 7,340 Shares of Sysco Corporation $SYY

Moran Wealth Management LLC trimmed its stake in Sysco Corporation (NYSE:SYY) by 4.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 159,154 shares of the company’s stock after selling 7,340 shares during the quarter. Moran Wealth Management LLC’s holdings in Sysco were worth $11,352,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Lloyd Advisory Services LLC. purchased a new stake in shares of Sysco during the 4th quarter worth approximately $25,000. Motiv8 Investments LLC purchased a new position in Sysco in the fourth quarter valued at approximately $25,000. Bard Associates Inc. purchased a new position in Sysco in the fourth quarter valued at approximately $27,000. Torren Management LLC bought a new position in Sysco during the fourth quarter valued at $27,000. Finally, Elyxium Wealth LLC bought a new position in Sysco during the fourth quarter valued at $28,000. 83.41% of the stock is owned by institutional investors.

Sysco Stock Down 0.1%

Shares of NYSE:SYY opened at $84.71 on Friday. The firm has a fifty day moving average price of $76.88 and a two-hundred day moving average price of $78.88. The company has a debt-to-equity ratio of 5.58, a current ratio of 1.33 and a quick ratio of 0.80. Sysco Corporation has a one year low of $68.19 and a one year high of $91.85. The company has a market cap of $40.50 billion, a price-to-earnings ratio of 23.46, a PEG ratio of 3.21 and a beta of 0.64.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). Sysco had a return on equity of 103.57% and a net margin of 2.08%.The firm had revenue of $20.52 billion during the quarter, compared to the consensus estimate of $20.56 billion. During the same period in the previous year, the company posted $0.96 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. Analysts anticipate that Sysco Corporation will post 4.59 EPS for the current fiscal year.

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Thursday, July 2nd will be paid a $0.55 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 2.6%. This is an increase from Sysco’s previous quarterly dividend of $0.54. Sysco’s dividend payout ratio is currently 60.94%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SYY. Guggenheim lowered their target price on Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Deutsche Bank Aktiengesellschaft downgraded Sysco from a “buy” rating to a “hold” rating and set a $84.00 price target for the company. in a research note on Tuesday, April 28th. Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Citigroup upped their price objective on shares of Sysco from $78.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Sysco in a research report on Friday, June 26th. Nine equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Sysco has an average rating of “Moderate Buy” and a consensus target price of $88.15.

Insider Buying and Selling at Sysco

In other Sysco news, Director John M. Hinshaw purchased 13,304 shares of the stock in a transaction on Tuesday, May 26th. The shares were purchased at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the acquisition, the director directly owned 40,200 shares in the company, valued at approximately $3,021,834. The trade was a 49.46% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is currently owned by insiders.

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.