Lmcg Investments LLC Boosts Stake in Sysco Corporation $SYY

Lmcg Investments LLC grew its stake in Sysco Corporation (NYSE:SYY) by 5.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,554 shares of the company’s stock after acquiring an additional 4,047 shares during the period. Lmcg Investments LLC’s holdings in Sysco were worth $5,950,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Boyd Watterson Asset Management LLC OH grew its stake in Sysco by 106.4% in the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company’s stock worth $236,000 after acquiring an additional 1,622 shares in the last quarter. Gradient Investments LLC grew its stake in Sysco by 9.2% in the 2nd quarter. Gradient Investments LLC now owns 189,169 shares of the company’s stock worth $14,328,000 after acquiring an additional 15,906 shares in the last quarter. Beacon Financial Group grew its stake in Sysco by 55.5% in the 2nd quarter. Beacon Financial Group now owns 9,955 shares of the company’s stock worth $754,000 after acquiring an additional 3,554 shares in the last quarter. Shell Asset Management Co. grew its stake in Sysco by 31.6% in the 2nd quarter. Shell Asset Management Co. now owns 19,218 shares of the company’s stock worth $1,456,000 after acquiring an additional 4,620 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Sysco by 2.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 223,510 shares of the company’s stock worth $16,772,000 after acquiring an additional 4,932 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SYY. Truist Financial increased their price objective on shares of Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, July 30th. Bank of America increased their price objective on shares of Sysco from $81.00 to $93.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Wall Street Zen upgraded shares of Sysco from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings downgraded shares of Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday. Finally, Barclays increased their price objective on shares of Sysco from $77.00 to $82.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Sysco has an average rating of “Moderate Buy” and an average target price of $85.85.

Insiders Place Their Bets

In other Sysco news, EVP Greg D. Bertrand sold 40,000 shares of the firm’s stock in a transaction 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 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ronald L. Phillips sold 37,606 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. In the last ninety days, 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 opened at $78.44 on Friday. The company has a market cap of $37.53 billion, a price-to-earnings ratio of 21.03, a price-to-earnings-growth ratio of 2.42 and a beta of 0.82. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $83.47. 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 company has a 50 day moving average of $80.81 and a two-hundred day moving average of $76.37.

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

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 3rd will be issued 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 dividend yield of 2.8%. Sysco’s dividend payout ratio (DPR) is currently 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.