6,342 Shares in Sysco Corporation $SYY Purchased by OneAscent Financial Services LLC

OneAscent Financial Services LLC purchased a new stake in shares of Sysco Corporation (NYSE:SYY) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 6,342 shares of the company’s stock, valued at approximately $530,000.

Several other institutional investors have also added to or reduced their stakes in the company. Montag A & Associates Inc. increased its stake in Sysco by 1.4% in the 4th quarter. Montag A & Associates Inc. now owns 8,743 shares of the company’s stock worth $644,000 after acquiring an additional 123 shares during the last quarter. United Community Bank boosted its position in shares of Sysco by 11.4% during the 4th quarter. United Community Bank now owns 1,224 shares of the company’s stock valued at $90,000 after acquiring an additional 125 shares during the last quarter. First Citizens Bank & Trust Co. grew its holdings in shares of Sysco by 1.2% in the fourth quarter. First Citizens Bank & Trust Co. now owns 11,224 shares of the company’s stock valued at $827,000 after purchasing an additional 138 shares in the last quarter. Diversify Wealth Management LLC grew its holdings in shares of Sysco by 1.6% in the fourth quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company’s stock valued at $698,000 after purchasing an additional 143 shares in the last quarter. Finally, Arax Advisory Partners increased its position in Sysco by 2.4% in the fourth quarter. Arax Advisory Partners now owns 6,222 shares of the company’s stock worth $458,000 after purchasing an additional 145 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Activity

In other news, Director John M. Hinshaw purchased 13,304 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were bought at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the acquisition, the director owned 40,200 shares of the company’s stock, valued at approximately $3,021,834. This trade represents a 49.46% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ronald L. Phillips sold 6,285 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $83.94, for a total transaction of $527,562.90. Following the completion of the sale, the executive vice president directly owned 39,970 shares of the company’s stock, valued at approximately $3,355,081.80. The trade was a 13.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SYY shares. UBS Group upped their price target on shares of Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Piper Sandler upped their target price on shares of Sysco from $77.00 to $84.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Barclays lowered their price target on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Finally, Melius Research lowered Sysco from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th. Nine investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.50.

Sysco Stock Performance

NYSE:SYY opened at $83.21 on Friday. The firm has a market capitalization of $39.84 billion, a PE ratio of 22.74, a PEG ratio of 2.82 and a beta of 0.64. The stock’s fifty day moving average is $82.55 and its 200 day moving average is $80.62. Sysco Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85. The company has a debt-to-equity ratio of 4.62, a quick ratio of 0.77 and a current ratio of 1.28.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.51 by $0.02. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The company had revenue of $22.12 billion during the quarter, compared to analyst estimates of $21.95 billion. During the same period in the previous year, the firm earned $1.48 earnings per share. Sysco’s quarterly revenue was up 4.7% compared to the same quarter last year. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. On average, sell-side analysts anticipate that Sysco Corporation will post 5.1 earnings per share for the current year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 2nd will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.6%. Sysco’s payout ratio is currently 60.11%.

Sysco Company Profile

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.