United Capital Financial Advisors LLC Makes New $2.63 Million Investment in Sysco Corporation $SYY

United Capital Financial Advisors LLC purchased a new stake in shares of Sysco Corporation (NYSE:SYY) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 31,501 shares of the company’s stock, valued at approximately $2,633,000.

Several other institutional investors also recently modified their holdings of SYY. Intech Investment Management LLC boosted its stake in Sysco by 53.1% during the first quarter. Intech Investment Management LLC now owns 22,310 shares of the company’s stock worth $1,674,000 after acquiring an additional 7,742 shares in the last quarter. Schnieders Capital Management LLC. increased its stake in shares of Sysco by 24.1% during the second quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company’s stock valued at $781,000 after purchasing an additional 2,000 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Sysco by 62.4% during the second quarter. NewEdge Advisors LLC now owns 35,447 shares of the company’s stock valued at $2,685,000 after purchasing an additional 13,616 shares during the last quarter. Sei Investments Co. boosted its position in shares of Sysco by 14.2% in the 2nd quarter. Sei Investments Co. now owns 344,504 shares of the company’s stock worth $26,092,000 after purchasing an additional 42,903 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its position in Sysco by 0.8% during the 2nd quarter. Treasurer of the State of North Carolina now owns 226,648 shares of the company’s stock valued at $17,166,000 after buying an additional 1,710 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SYY has been the topic of a number of recent research reports. Melius Research cut Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Piper Sandler raised their price objective on shares of Sysco from $77.00 to $84.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Morgan Stanley upped their target price on shares of Sysco from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. Weiss Ratings raised shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 19th. Finally, Wall Street Zen raised Sysco from a “hold” rating to a “buy” rating in a research report on Saturday. Nine research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $89.50.

Insider Activity

In related news, EVP Ronald L. Phillips sold 7,350 shares of Sysco stock in a transaction on Friday, August 21st. The stock was sold at an average price of $83.61, for a total value of $614,533.50. Following the completion of the sale, the executive vice president owned 38,650 shares of the company’s stock, valued at $3,231,526.50. The trade was a 15.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 14,508 shares of company stock valued at $1,215,250. Company insiders own 0.56% of the company’s stock.

Sysco Stock Performance

Shares of NYSE SYY opened at $81.95 on Friday. The firm’s 50-day moving average price is $83.05 and its 200-day moving average price is $80.59. Sysco Corporation has a 52-week low of $68.19 and a 52-week high of $91.85. The company has a market cap of $39.26 billion, a PE ratio of 22.39, a PEG ratio of 2.81 and a beta of 0.64. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The firm had revenue of $22.12 billion during the quarter, compared to analysts’ expectations of $21.95 billion. During the same period in the previous year, the company earned $1.48 earnings per share. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. As a group, analysts anticipate that Sysco Corporation will post 5.12 EPS for the current year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, October 2nd. Sysco’s dividend payout ratio is presently 60.11%.

Sysco Profile

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.