Griffin Asset Management Inc. Sells 300 Shares of Sysco Corporation $SYY

Griffin Asset Management Inc. reduced its position in shares of Sysco Corporation (NYSE:SYY) by 0.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,323 shares of the company’s stock after selling 300 shares during the quarter. Griffin Asset Management Inc.’s holdings in Sysco were worth $2,600,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Ellis Investment Partners LLC increased its position in Sysco by 4.9% in the second quarter. Ellis Investment Partners LLC now owns 2,820 shares of the company’s stock worth $214,000 after purchasing an additional 133 shares during the last quarter. Golden State Wealth Management LLC increased its position in Sysco by 48.4% during the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock valued at $32,000 after acquiring an additional 140 shares during the last quarter. Trust Co of the South increased its position in Sysco by 3.0% during the second quarter. Trust Co of the South now owns 4,849 shares of the company’s stock valued at $367,000 after acquiring an additional 142 shares during the last quarter. Chicago Partners Investment Group LLC increased its position in Sysco by 1.6% during the first quarter. Chicago Partners Investment Group LLC now owns 8,898 shares of the company’s stock valued at $627,000 after acquiring an additional 143 shares during the last quarter. Finally, BSW Wealth Partners increased its position in Sysco by 2.3% during the second quarter. BSW Wealth Partners now owns 6,449 shares of the company’s stock valued at $488,000 after acquiring an additional 146 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SYY shares. Weiss Ratings cut shares of Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. Truist Financial boosted their price objective on shares of Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. Wall Street Zen raised shares of Sysco from a “hold” rating to a “buy” rating in a research note on Saturday. Wells Fargo & Company set a $88.00 target price on shares of Sysco and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Finally, UBS Group set a $90.00 target price on shares of Sysco in a research note on Wednesday, July 30th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.85.

Insider Transactions at Sysco

In related news, EVP Ronald L. Phillips sold 961 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $81.00, for a total value of $77,841.00. Following the completion of the sale, the executive vice president directly owned 41,501 shares of the company’s stock, valued at $3,361,581. This represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Greg D. Bertrand sold 40,000 shares of the company’s stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the completion of the sale, the executive vice president directly owned 56,304 shares of the company’s stock, valued at approximately $4,504,320. This trade represents a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,338 shares of company stock valued at $7,439,331. 0.56% of the stock is owned by insiders.

Sysco Stock Up 0.5%

Shares of SYY opened at $78.44 on Monday. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $83.47. The firm has a fifty day moving average price of $80.81 and a 200-day moving average price of $76.41. The firm has a market capitalization of $37.53 billion, a P/E ratio of 21.03, a P/E/G ratio of 2.43 and a beta of 0.82. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75.

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

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be paid a $0.54 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 2.8%. Sysco’s dividend payout ratio is 57.91%.

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.