Elevation Point Wealth Partners LLC Buys Shares of 13,340 Sysco Corporation $SYY

Elevation Point Wealth Partners LLC purchased a new stake in Sysco Corporation (NYSE:SYY) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 13,340 shares of the company’s stock, valued at approximately $1,115,000.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Sysco by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company’s stock valued at $4,591,281,000 after buying an additional 814,270 shares during the period. BlackRock Inc. purchased a new stake in Sysco during the second quarter worth $3,596,356,000. State Street Corp boosted its position in Sysco by 0.9% during the 3rd quarter. State Street Corp now owns 26,669,576 shares of the company’s stock valued at $2,195,973,000 after acquiring an additional 246,542 shares in the last quarter. Geode Capital Management LLC boosted its position in Sysco by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company’s stock valued at $934,391,000 after acquiring an additional 131,659 shares in the last quarter. Finally, Norges Bank bought a new stake in Sysco during the 4th quarter valued at $542,780,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Transactions at Sysco

In related news, EVP Ronald L. Phillips sold 6,285 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $83.94, for a total value of $527,562.90. Following the completion of the transaction, the executive vice president owned 39,970 shares in the company, valued at $3,355,081.80. This trade represents a 13.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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. 0.56% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SYY has been the subject of several recent research reports. Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. UBS Group raised their price objective on Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Melius Research lowered Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Citigroup increased their price target on shares of Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a report on Tuesday, April 28th. Nine research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $89.50.

Sysco Stock Down 0.3%

NYSE:SYY opened at $83.86 on Tuesday. The company has a market cap of $40.15 billion, a PE ratio of 22.91, a P/E/G ratio of 2.87 and a beta of 0.64. Sysco Corporation has a twelve month low of $68.19 and a twelve month high of $91.85. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62. The company’s 50 day moving average is $82.74 and its two-hundred day moving average is $80.62.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The business had revenue of $22.12 billion during the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter last year, the company posted $1.48 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. Analysts anticipate that Sysco Corporation will post 5.12 EPS for the current year.

Sysco Announces Dividend

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

About Sysco

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.