Sysco Corporation $SYY Shares Sold by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC lessened its position in Sysco Corporation (NYSE:SYY) by 6.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,957 shares of the company’s stock after selling 404 shares during the period. Checchi Capital Advisers LLC’s holdings in Sysco were worth $451,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SYY. Golden State Wealth Management LLC raised its holdings in Sysco by 48.4% during the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock worth $32,000 after purchasing an additional 140 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new position in shares of Sysco during the 1st quarter worth approximately $33,000. Cheviot Value Management LLC acquired a new stake in shares of Sysco in the 1st quarter valued at approximately $34,000. 1248 Management LLC purchased a new stake in shares of Sysco in the first quarter valued at approximately $35,000. Finally, Banque Transatlantique SA acquired a new position in Sysco during the first quarter worth $35,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Sysco

In related news, EVP Ronald L. Phillips sold 961 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $81.00, for a total value of $77,841.00. Following the completion of the transaction, the executive vice president owned 41,501 shares of the company’s stock, valued at approximately $3,361,581. The trade was a 2.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the company’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the completion of the transaction, the executive vice president owned 56,304 shares in the company, valued at approximately $4,504,320. This trade represents a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,338 shares of company stock valued at $7,439,331. 0.54% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Sysco in a report on Saturday, September 27th. Wells Fargo & Company set a $88.00 price objective on shares of Sysco and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Truist Financial upped their target price on shares of Sysco from $81.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Bank of America lifted their price target on shares of Sysco from $81.00 to $93.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Finally, Morgan Stanley upped their price target on Sysco from $72.00 to $77.00 and gave the stock an “equal weight” rating in a report on Monday, July 14th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.85.

Sysco Stock Down 1.6%

SYY stock opened at $80.86 on Tuesday. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70. The company’s 50 day simple moving average is $80.87 and its 200-day simple moving average is $76.22. Sysco Corporation has a 12 month low of $67.12 and a 12 month high of $83.47. The firm has a market capitalization of $38.69 billion, a PE ratio of 21.68, a P/E/G ratio of 2.54 and a beta of 0.82.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.09. The firm had revenue of $21.14 billion for the quarter, compared to analyst estimates of $21.01 billion. Sysco had a return on equity of 109.52% and a net margin of 2.25%.Sysco’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Equities analysts expect that Sysco Corporation will post 4.58 earnings per share for the current fiscal 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 paid a dividend of $0.54 per share. 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 (DPR) is presently 57.91%.

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.