Sysco Corporation $SYY Shares Sold by Drive Wealth Management LLC

Drive Wealth Management LLC reduced its holdings in shares of Sysco Corporation (NYSE:SYY) by 2.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,560 shares of the company’s stock after selling 391 shares during the quarter. Drive Wealth Management LLC’s holdings in Sysco were worth $1,178,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ellis Investment Partners LLC boosted its position in shares of Sysco by 4.9% in the 2nd quarter. Ellis Investment Partners LLC now owns 2,820 shares of the company’s stock valued at $214,000 after purchasing an additional 133 shares during the period. Golden State Wealth Management LLC boosted its position in shares of Sysco by 48.4% in the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock valued at $32,000 after purchasing an additional 140 shares during the period. Stephens Inc. AR boosted its position in shares of Sysco by 0.6% in the 2nd quarter. Stephens Inc. AR now owns 25,040 shares of the company’s stock valued at $1,897,000 after purchasing an additional 140 shares during the period. Trust Co of the South boosted its position in shares of Sysco by 3.0% in the 2nd quarter. Trust Co of the South now owns 4,849 shares of the company’s stock valued at $367,000 after purchasing an additional 142 shares during the period. Finally, NorthRock Partners LLC boosted its position in shares of Sysco by 2.2% in the 2nd quarter. NorthRock Partners LLC now owns 6,514 shares of the company’s stock valued at $493,000 after purchasing an additional 142 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Ronald L. Phillips sold 37,606 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 30,235 shares of the company’s stock, valued at approximately $2,449,035. This represents a 55.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total value of $3,200,000.00. Following the completion of the transaction, the executive vice president directly 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 three months, insiders have sold 92,338 shares of company stock valued at $7,439,331. Company insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SYY. Morgan Stanley upped their target price on Sysco from $72.00 to $77.00 and gave the company an “equal weight” rating in a research report on Monday, July 14th. Guggenheim upped their target price on Sysco from $87.00 to $89.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Citigroup upped their target price on Sysco from $84.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday. Barclays increased their price objective on Sysco from $77.00 to $82.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Finally, Bank of America increased their price objective on Sysco from $81.00 to $93.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $86.46.

Sysco Stock Performance

Shares of SYY stock opened at $79.92 on Monday. The company has a market cap of $38.24 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 2.47 and a beta of 0.82. The stock has a 50 day simple moving average of $80.73 and a 200-day simple moving average of $76.56. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $83.47. 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 issued its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.09. The business had revenue of $21.14 billion during the quarter, compared to the consensus estimate of $21.01 billion. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, equities analysts forecast that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, October 3rd. Sysco’s dividend payout ratio is 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.