Wealthfront Advisers LLC Raises Stock Holdings in Sysco Corporation $SYY

Wealthfront Advisers LLC boosted its stake in shares of Sysco Corporation (NYSE:SYY) by 22.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,747 shares of the company’s stock after buying an additional 14,834 shares during the quarter. Wealthfront Advisers LLC’s holdings in Sysco were worth $6,192,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Chung Wu Investment Group LLC acquired a new position in Sysco during the second quarter worth $30,000. Golden State Wealth Management LLC raised its holdings in shares of Sysco by 48.4% in the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock valued at $32,000 after buying an additional 140 shares during the period. N.E.W. Advisory Services LLC acquired a new position in Sysco during the 1st quarter worth about $33,000. 1248 Management LLC purchased a new position in Sysco during the 1st quarter valued at about $35,000. Finally, Cheviot Value Management LLC acquired a new position in Sysco in the 1st quarter valued at about $34,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on SYY shares. Sanford C. Bernstein began coverage on shares of Sysco in a research report on Wednesday, October 22nd. They set a “market perform” rating and a $83.00 price target on the stock. 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 note on Wednesday, July 30th. Barclays raised their price target 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. Weiss Ratings raised Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 24th. Finally, Wells Fargo & Company set a $88.00 target price on Sysco and gave the company an “overweight” rating in a report on Tuesday, July 29th. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $87.00.

Insider Activity at Sysco

In other news, EVP Ronald L. Phillips sold 961 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $81.00, for a total value of $77,841.00. Following the completion of the sale, the executive vice president directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 14,732 shares of company stock worth $1,193,245 in the last 90 days. 0.56% of the stock is currently owned by insiders.

Sysco Trading Down 2.5%

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 P/E/G ratio of 2.30 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 stock has a 50-day simple moving average of $80.43 and a 200-day simple moving average of $76.97.

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

Sysco Dividend Announcement

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

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.