Atria Wealth Solutions Inc. Lowers Holdings in Sysco Corporation $SYY

Atria Wealth Solutions Inc. cut its holdings in Sysco Corporation (NYSE:SYY) by 55.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,445 shares of the company’s stock after selling 38,559 shares during the period. Atria Wealth Solutions Inc.’s holdings in Sysco were worth $2,307,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in SYY. Wealth Enhancement Advisory Services LLC lifted its holdings 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 purchasing an additional 4,932 shares in the last quarter. Dynamic Advisor Solutions LLC purchased a new position in Sysco in the 1st quarter worth approximately $202,000. Exchange Traded Concepts LLC increased its stake in Sysco by 11.1% in the 1st quarter. Exchange Traded Concepts LLC now owns 23,025 shares of the company’s stock worth $1,728,000 after acquiring an additional 2,296 shares during the last quarter. Mission Wealth Management LP increased its stake in Sysco by 41.6% in the 1st quarter. Mission Wealth Management LP now owns 11,650 shares of the company’s stock worth $874,000 after acquiring an additional 3,424 shares during the last quarter. Finally, Sagespring Wealth Partners LLC increased its stake in Sysco by 4.0% in the 1st quarter. Sagespring Wealth Partners LLC now owns 5,352 shares of the company’s stock worth $402,000 after acquiring an additional 204 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SYY has been the topic of a number of research reports. Weiss Ratings downgraded Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Citigroup lifted their price objective on Sysco from $84.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday. Guggenheim lifted their price objective on Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Wall Street Zen raised Sysco from a “hold” rating to a “buy” rating in a research note on Saturday, October 11th. Finally, Bank of America lifted their price objective on Sysco from $81.00 to $93.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $86.46.

Sysco Stock Performance

NYSE SYY opened at $80.10 on Thursday. The company has a market cap of $38.33 billion, a P/E ratio of 21.47, a P/E/G ratio of 2.47 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 $80.78 and its 200-day moving average price is $76.49. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $83.47.

Sysco (NYSE:SYY) last released 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 firm had revenue of $21.14 billion for the quarter, compared to the consensus estimate of $21.01 billion. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Sell-side analysts predict that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

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

Insider Buying and Selling at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 37,606 shares of the company’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total value of $3,046,086.00. Following the transaction, the executive vice president owned 30,235 shares of the company’s stock, valued at $2,449,035. This represents a 55.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the company’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 directly owned 56,304 shares in the company, valued at $4,504,320. This trade represents a 41.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,338 shares of company stock worth $7,439,331 in the last ninety days. 0.56% of the stock is currently owned by corporate insiders.

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.