BankPlus Wealth Management LLC Buys 171 Shares of Sysco Corporation $SYY

BankPlus Wealth Management LLC boosted its stake in Sysco Corporation (NYSE:SYY) by 4.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 4,472 shares of the company’s stock after acquiring an additional 171 shares during the quarter. BankPlus Wealth Management LLC’s holdings in Sysco were worth $339,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Boston Partners lifted its stake in Sysco by 24.8% in the 1st quarter. Boston Partners now owns 15,199,828 shares of the company’s stock valued at $1,139,798,000 after acquiring an additional 3,015,714 shares in the last quarter. Canoe Financial LP lifted its position in shares of Sysco by 29,610.4% in the first 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 in the last quarter. Nuveen LLC bought a new stake in shares of Sysco in the first quarter worth $85,341,000. Amundi lifted its position in shares of Sysco by 36.5% in the first quarter. Amundi now owns 3,725,508 shares of the company’s stock worth $280,941,000 after purchasing an additional 995,498 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in Sysco by 1,940.1% during the 1st quarter. Mackenzie Financial Corp now owns 1,016,660 shares of the company’s stock worth $76,290,000 after buying an additional 966,826 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Barclays boosted their price target on shares of Sysco from $77.00 to $82.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Morgan Stanley upped their price objective on Sysco from $72.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Monday, July 14th. Wells Fargo & Company set a $88.00 price objective on Sysco and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, Bank of America upped their price target on shares of Sysco from $81.00 to $93.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.69.

Sysco Price Performance

Shares of SYY opened at $81.08 on Friday. The firm has a market capitalization of $39.30 billion, a PE ratio of 21.74, a PEG ratio of 2.53 and a beta of 0.80. The company’s 50-day moving average is $80.53 and its 200-day moving average is $75.74. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $83.24. 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 (NYSE:SYY) last released its quarterly 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 firm had revenue of $21.14 billion for the quarter, compared to analysts’ expectations of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The business’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Equities analysts forecast that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 3rd will be given a dividend of $0.54 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.16 annualized dividend and a yield of 2.7%. Sysco’s dividend payout ratio (DPR) is presently 57.91%.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 37,606 shares of the stock in a transaction on 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 transaction, the executive vice president owned 30,235 shares in the company, valued at $2,449,035. This trade represents a 55.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total value of $3,200,000.00. Following the transaction, the executive vice president owned 56,304 shares in the company, valued at $4,504,320. The trade was a 41.54% decrease in their position. 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 in the last quarter. Company insiders own 0.54% of the company’s stock.

Sysco Company 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.