Kestra Advisory Services LLC Buys 7,431 Shares of Sysco Corporation $SYY

Kestra Advisory Services LLC raised its stake in shares of Sysco Corporation (NYSE:SYY) by 10.8% in the first quarter, Holdings Channel reports. The institutional investor owned 76,182 shares of the company’s stock after buying an additional 7,431 shares during the quarter. Kestra Advisory Services LLC’s holdings in Sysco were worth $5,434,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SYY. Vanguard Group Inc. boosted its position in shares of Sysco by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company’s stock valued at $4,591,281,000 after acquiring an additional 814,270 shares during the period. State Street Corp increased its holdings in Sysco by 0.9% during the 3rd quarter. State Street Corp now owns 26,669,576 shares of the company’s stock worth $2,195,973,000 after acquiring an additional 246,542 shares during the period. Geode Capital Management LLC increased its holdings in Sysco by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company’s stock worth $934,391,000 after acquiring an additional 131,659 shares during the period. Norges Bank purchased a new stake in Sysco in the 4th quarter worth approximately $542,780,000. Finally, Morgan Stanley boosted its holdings in Sysco by 9.0% in the 4th quarter. Morgan Stanley now owns 6,058,405 shares of the company’s stock valued at $446,444,000 after purchasing an additional 500,881 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SYY has been the topic of several research analyst reports. Wall Street Zen cut shares of Sysco from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Barclays dropped their price objective on Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Melius Research lowered Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Piper Sandler lowered their price target on Sysco from $83.00 to $77.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Finally, Deutsche Bank Aktiengesellschaft downgraded Sysco from a “buy” rating to a “hold” rating and set a $84.00 price target for the company. in a research report on Tuesday, April 28th. Nine investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Sysco has a consensus rating of “Moderate Buy” and a consensus target price of $88.15.

Insider Buying and Selling at Sysco

In other news, Director John M. Hinshaw bought 13,304 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average price of $75.17 per share, for a total transaction of $1,000,061.68. Following the transaction, the director directly owned 40,200 shares of the company’s stock, valued at $3,021,834. This represents a 49.46% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

Sysco Stock Down 2.7%

Shares of NYSE:SYY opened at $80.61 on Thursday. The firm has a market capitalization of $38.54 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 3.16 and a beta of 0.64. The company has a debt-to-equity ratio of 5.58, a quick ratio of 0.80 and a current ratio of 1.33. Sysco Corporation has a 52-week low of $68.19 and a 52-week high of $91.85. The firm has a fifty day moving average of $78.26 and a 200 day moving average of $79.38.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Sysco had a net margin of 2.08% and a return on equity of 103.57%. The firm had revenue of $20.52 billion for the quarter, compared to analysts’ expectations of $20.56 billion. During the same quarter in the previous year, the business earned $0.96 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. As a group, research analysts anticipate that Sysco Corporation will post 4.59 EPS for the current fiscal year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Thursday, July 2nd will be given a dividend of $0.55 per share. This is a boost from Sysco’s previous quarterly dividend of $0.54. The ex-dividend date is Thursday, July 2nd. This represents a $2.20 annualized dividend and a dividend yield of 2.7%. Sysco’s dividend payout ratio is currently 60.94%.

About Sysco

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.