Belpointe Asset Management LLC Increases Holdings in Sysco Corporation $SYY

Belpointe Asset Management LLC increased its stake in shares of Sysco Corporation (NYSE:SYY) by 79.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 22,888 shares of the company’s stock after purchasing an additional 10,099 shares during the period. Belpointe Asset Management LLC’s holdings in Sysco were worth $1,734,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in SYY. Invesco Ltd. lifted its holdings in shares of Sysco by 1.0% in the first quarter. Invesco Ltd. now owns 17,070,502 shares of the company’s stock worth $1,280,970,000 after buying an additional 162,961 shares in the last quarter. Boston Partners increased its holdings in Sysco by 24.8% during the 1st quarter. Boston Partners now owns 15,199,828 shares of the company’s stock worth $1,139,798,000 after acquiring an additional 3,015,714 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in Sysco by 2.0% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 7,353,551 shares of the company’s stock worth $551,810,000 after purchasing an additional 146,573 shares in the last quarter. Northern Trust Corp boosted its holdings in Sysco by 2.6% in the 1st quarter. Northern Trust Corp now owns 5,828,930 shares of the company’s stock valued at $437,403,000 after purchasing an additional 145,477 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Sysco by 8.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,087,250 shares of the company’s stock valued at $381,747,000 after purchasing an additional 391,614 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

SYY opened at $80.86 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75. The stock has a market capitalization of $38.69 billion, a P/E ratio of 21.68, a PEG ratio of 2.54 and a beta of 0.82. The stock has a 50-day moving average price of $80.87 and a 200-day moving average price of $76.22. Sysco Corporation has a 12-month low of $67.12 and a 12-month 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, topping analysts’ consensus estimates 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 return on equity of 109.52% and a net margin of 2.25%.Sysco’s quarterly revenue 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. Equities analysts predict that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be paid 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 2.7%. Sysco’s dividend payout ratio is 57.91%.

Analyst Ratings Changes

SYY has been the topic of a number of recent analyst reports. Bank of America increased their price objective on Sysco from $81.00 to $93.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a report on Saturday, September 13th. Morgan Stanley lifted their price target on Sysco from $72.00 to $77.00 and gave the company an “equal weight” rating in a research report on Monday, July 14th. UBS Group set a $90.00 price objective on shares of Sysco in a research report on Wednesday, July 30th. Finally, Barclays lifted their target price on shares of Sysco from $77.00 to $82.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.85.

Insider Buying and Selling at Sysco

In other news, EVP Greg D. Bertrand sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the transaction, the executive vice president directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ronald L. Phillips sold 37,606 shares of Sysco stock in a transaction dated 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 completion of the transaction, the executive vice president owned 30,235 shares in the company, 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 have sold 92,338 shares of company stock worth $7,439,331. 0.54% of the stock is owned by 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.