Forum Financial Management LP Boosts Stock Position in Sysco Corporation $SYY

Forum Financial Management LP lifted its stake in Sysco Corporation (NYSE:SYY) by 0.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,030 shares of the company’s stock after buying an additional 351 shares during the quarter. Forum Financial Management LP’s holdings in Sysco were worth $3,714,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Boyd Watterson Asset Management LLC OH boosted its stake in shares of Sysco by 106.4% in the first quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company’s stock worth $236,000 after buying an additional 1,622 shares during the last quarter. Gradient Investments LLC boosted its stake in shares of Sysco by 9.2% in the second quarter. Gradient Investments LLC now owns 189,169 shares of the company’s stock worth $14,328,000 after buying an additional 15,906 shares during the last quarter. Beacon Financial Group boosted its stake in shares of Sysco by 55.5% in the second quarter. Beacon Financial Group now owns 9,955 shares of the company’s stock worth $754,000 after buying an additional 3,554 shares during the last quarter. Shell Asset Management Co. boosted its stake in shares of Sysco by 31.6% in the second quarter. Shell Asset Management Co. now owns 19,218 shares of the company’s stock worth $1,456,000 after buying an additional 4,620 shares during the last quarter. Finally, KLP Kapitalforvaltning AS boosted its position in Sysco by 5.8% during the second quarter. KLP Kapitalforvaltning AS now owns 448,600 shares of the company’s stock worth $33,977,000 after purchasing an additional 24,500 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of Sysco stock opened at $78.55 on Thursday. Sysco Corporation has a one year low of $67.12 and a one year high of $83.47. The company has a market cap of $37.59 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 2.44 and a beta of 0.82. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. The business’s 50 day moving average price is $80.63 and its 200 day moving average price is $76.65.

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

Sysco Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SYY shares. Wells Fargo & Company set a $88.00 price target on Sysco and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Truist Financial increased their price target on Sysco from $81.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Barclays increased their price target on Sysco from $77.00 to $82.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Wall Street Zen upgraded Sysco from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. Finally, Bank of America increased their price target on Sysco from $81.00 to $93.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Nine research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $87.00.

Insider Buying and Selling

In other Sysco news, EVP Ronald L. Phillips sold 7,351 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $81.00, for a total transaction of $595,431.00. Following the completion of the sale, the executive vice president owned 41,837 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 14,732 shares of company stock worth $1,193,245 in the last quarter. Company insiders own 0.56% of the company’s stock.

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.