Legacy Financial Advisors Inc. Makes New Investment in Sysco Corporation $SYY

Legacy Financial Advisors Inc. bought a new position in Sysco Corporation (NYSE:SYY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,441 shares of the company’s stock, valued at approximately $789,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SYY. Lloyd Advisory Services LLC. purchased a new position in shares of Sysco in the 4th quarter worth about $25,000. Motiv8 Investments LLC purchased a new stake in Sysco during the 4th quarter valued at about $25,000. Sunbelt Securities Inc. increased its stake in Sysco by 87.6% during the 1st quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock valued at $26,000 after purchasing an additional 170 shares in the last quarter. Bard Associates Inc. bought a new stake in Sysco during the 4th quarter valued at about $27,000. Finally, Elyxium Wealth LLC purchased a new position in Sysco in the fourth quarter worth about $28,000. 83.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Ronald L. Phillips sold 506 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $84.09, for a total transaction of $42,549.54. Following the transaction, the executive vice president directly owned 36,313 shares of the company’s stock, valued at $3,053,560.17. This represents a 1.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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. In the last ninety days, insiders have sold 14,508 shares of company stock worth $1,215,250. 0.56% of the stock is currently owned by insiders.

Sysco Stock Performance

Shares of NYSE SYY opened at $82.05 on Wednesday. The firm’s 50-day moving average price is $83.16 and its 200-day moving average price is $80.46. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62. The company has a market cap of $39.31 billion, a PE ratio of 22.42, a PEG ratio of 2.77 and a beta of 0.63. 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 results on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The firm had revenue of $22.12 billion during the quarter, compared to analyst estimates of $21.95 billion. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $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. As a group, analysts anticipate that Sysco Corporation will post 5.12 EPS for the current year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 2nd. Sysco’s payout ratio is 60.11%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SYY. Piper Sandler upped their target price on shares of Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. UBS Group raised their price target on shares of Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Citigroup boosted their price objective on shares of Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Morgan Stanley increased their target price on Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Finally, Melius Research lowered Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Nine investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Sysco has a consensus rating of “Moderate Buy” and an average target price of $89.50.

About Sysco

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.