IFP Advisors Inc Purchases 237 Shares of Sysco Corporation $SYY

IFP Advisors Inc increased its position in Sysco Corporation (NYSE:SYY) by 0.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,948 shares of the company’s stock after purchasing an additional 237 shares during the quarter. IFP Advisors Inc’s holdings in Sysco were worth $2,680,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Boyd Watterson Asset Management LLC OH lifted its holdings in shares of Sysco by 106.4% during the first quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company’s stock valued at $236,000 after acquiring an additional 1,622 shares during the period. Gradient Investments LLC lifted its holdings in shares of Sysco by 9.2% during the second quarter. Gradient Investments LLC now owns 189,169 shares of the company’s stock valued at $14,328,000 after acquiring an additional 15,906 shares during the period. Beacon Financial Group lifted its holdings in shares of Sysco by 55.5% during the second quarter. Beacon Financial Group now owns 9,955 shares of the company’s stock valued at $754,000 after acquiring an additional 3,554 shares during the period. Shell Asset Management Co. lifted its holdings in shares of Sysco by 31.6% during the second quarter. Shell Asset Management Co. now owns 19,218 shares of the company’s stock valued at $1,456,000 after acquiring an additional 4,620 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Sysco by 2.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 223,510 shares of the company’s stock valued at $16,772,000 after acquiring an additional 4,932 shares during the period. 83.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Guggenheim lifted their price objective on Sysco from $87.00 to $89.00 and gave the company a “buy” rating in a report on Monday. Truist Financial lifted their price target on Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. UBS Group set a $90.00 price target on Sysco in a report on Wednesday, July 30th. Wall Street Zen raised Sysco from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Morgan Stanley lifted their price target on Sysco from $72.00 to $77.00 and gave the company an “equal weight” rating in a report on Monday, July 14th. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $85.85.

Insider Transactions at Sysco

In other news, EVP Ronald L. Phillips sold 961 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $81.00, for a total transaction of $77,841.00. Following the completion of the transaction, the executive vice president directly owned 41,501 shares in the company, valued at approximately $3,361,581. The trade was a 2.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $4,504,320. The trade was a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,338 shares of company stock valued at $7,439,331. Corporate insiders own 0.54% of the company’s stock.

Sysco Price Performance

Shares of SYY stock opened at $78.44 on Friday. The stock has a 50-day moving average price of $80.81 and a 200 day moving average price of $76.37. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. The firm has a market cap of $37.53 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 2.42 and a beta of 0.82. Sysco Corporation has a 12 month low of $67.12 and a 12 month high of $83.47.

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

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, October 3rd. Sysco’s dividend payout ratio (DPR) is presently 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.