Stratos Wealth Partners LTD. Increases Stock Position in Sysco Corporation $SYY

Stratos Wealth Partners LTD. grew its position in Sysco Corporation (NYSE:SYY) by 95.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,578 shares of the company’s stock after purchasing an additional 9,097 shares during the period. Stratos Wealth Partners LTD.’s holdings in Sysco were worth $1,407,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Chung Wu Investment Group LLC purchased a new stake in shares of Sysco in the second quarter valued at about $30,000. Golden State Wealth Management LLC grew its position in shares of Sysco by 48.4% during the 1st 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 period. N.E.W. Advisory Services LLC bought a new position in shares of Sysco during the 1st quarter valued at approximately $33,000. Cheviot Value Management LLC bought a new position in shares of Sysco during the 1st quarter valued at approximately $34,000. Finally, 1248 Management LLC bought a new position in shares of Sysco during the 1st quarter valued at approximately $35,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

SYY stock opened at $79.14 on Wednesday. The firm has a 50 day moving average of $80.70 and a 200-day moving average of $76.64. 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 Corporation has a 12 month low of $67.12 and a 12 month high of $83.47. The firm has a market capitalization of $37.87 billion, a P/E ratio of 21.22, a price-to-earnings-growth ratio of 2.47 and a beta of 0.82.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.09. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The business had revenue of $21.14 billion during the quarter, compared to analyst estimates of $21.01 billion. During the same period in the previous year, the business posted $1.39 earnings per share. Sysco’s revenue for the quarter was up 2.8% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, sell-side analysts predict that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

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

Insider Activity at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 7,351 shares of Sysco stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $81.00, for a total transaction of $595,431.00. Following the transaction, the executive vice president directly owned 41,837 shares of the company’s stock, valued at approximately $3,388,797. This trade represents a 14.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 14,732 shares of company stock worth $1,193,245 over the last quarter. Company insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SYY shares. Citigroup increased their target price on shares of Sysco from $84.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Truist Financial increased their target price 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 report on Saturday, October 11th. Barclays lifted their target price on shares of Sysco from $77.00 to $82.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Finally, Bank of America lifted their target price on shares of Sysco from $81.00 to $93.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $87.31.

Sysco 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.