Envestnet Asset Management Inc. Purchases 118,379 Shares of Sysco Corporation $SYY

Envestnet Asset Management Inc. boosted its position in Sysco Corporation (NYSE:SYY) by 8.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,517,244 shares of the company’s stock after acquiring an additional 118,379 shares during the period. Envestnet Asset Management Inc. owned 0.31% of Sysco worth $114,916,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SYY. Chung Wu Investment Group LLC bought a new stake in Sysco in the 2nd quarter worth $30,000. Golden State Wealth Management LLC boosted its stake in shares of Sysco by 48.4% during the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock valued at $32,000 after purchasing an additional 140 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Sysco during the 1st quarter valued at about $33,000. Cheviot Value Management LLC bought a new stake in shares of Sysco during the 1st quarter valued at about $34,000. Finally, 1248 Management LLC bought a new stake in shares of Sysco during the 1st quarter valued at about $35,000. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Down 2.5%

Shares of NYSE SYY opened at $76.03 on Wednesday. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $83.47. The stock has a market cap of $36.38 billion, a P/E ratio of 20.38, a price-to-earnings-growth ratio of 2.30 and a beta of 0.82. The firm has a 50-day moving average of $80.43 and a 200 day moving average of $76.97. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.03. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The company had revenue of $21.15 billion during the quarter, compared to analysts’ expectations of $21.03 billion. During the same period last year, the company posted $1.09 EPS. Sysco’s revenue was up 3.2% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, sell-side analysts expect that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 24th. Shareholders of record on Friday, October 3rd were issued a $0.54 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.16 annualized dividend and a yield of 2.8%. Sysco’s payout ratio is 57.91%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Guggenheim lifted their target price on shares of Sysco from $87.00 to $89.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Bank of America lifted their target price 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 lowered shares of Sysco from a “buy” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company set a $88.00 target price on shares of Sysco and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Finally, Weiss Ratings raised shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 24th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Sysco presently has an average rating of “Moderate Buy” and a consensus target price of $87.00.

Insider Transactions at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 7,351 shares of Sysco stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $81.00, for a total value of $595,431.00. Following the completion of the transaction, the executive vice president directly owned 41,837 shares of the company’s stock, valued at approximately $3,388,797. The trade was a 14.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 14,732 shares of company stock valued at $1,193,245 over the last three months. 0.56% of the stock is currently 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.