Ellis Investment Partners LLC Grows Stock Holdings in Sysco Corporation $SYY

Ellis Investment Partners LLC grew its holdings in shares of Sysco Corporation (NYSE:SYY) by 4.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,820 shares of the company’s stock after buying an additional 133 shares during the quarter. Ellis Investment Partners LLC’s holdings in Sysco were worth $214,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of SYY. Chung Wu Investment Group LLC purchased a new stake in shares of Sysco during the 2nd quarter valued at about $30,000. Golden State Wealth Management LLC raised its holdings 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 buying an additional 140 shares during the period. N.E.W. Advisory Services LLC purchased a new stake in shares of Sysco during the 1st quarter valued at about $33,000. Cheviot Value Management LLC purchased a new stake in shares of Sysco during the 1st quarter valued at about $34,000. Finally, 1248 Management LLC purchased a new position in Sysco in the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

Shares of SYY opened at $78.21 on Tuesday. The firm has a market cap of $37.42 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 2.43 and a beta of 0.82. The stock has a 50 day moving average of $80.79 and a 200-day moving average of $76.44. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $83.47.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.39 by $0.09. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The company had revenue of $21.14 billion during the quarter, compared to analyst estimates of $21.01 billion. During the same quarter last year, the firm earned $1.39 EPS. The business’s revenue was up 2.8% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, analysts forecast that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Announces Dividend

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 given a dividend of $0.54 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 2.8%. Sysco’s payout ratio is currently 57.91%.

Wall Street Analyst Weigh In

SYY has been the subject of a number of analyst reports. Wall Street Zen raised Sysco from a “hold” rating to a “buy” rating in a report on Saturday. Morgan Stanley upped their price target on shares of Sysco from $72.00 to $77.00 and gave the company an “equal weight” rating in a report on Monday, July 14th. Guggenheim upped their price target on shares of Sysco from $87.00 to $89.00 and gave the company a “buy” rating in a report on Monday, October 6th. Truist Financial upped their price target on shares of Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. Finally, UBS Group set a $90.00 price target on shares of Sysco in a report on Wednesday, July 30th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.85.

Insider Buying and Selling

In related news, EVP Ronald L. Phillips sold 37,606 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the completion of the transaction, the executive vice president owned 30,235 shares in the company, valued at $2,449,035. The trade was a 55.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total value of $3,200,000.00. Following the sale, the executive vice president directly owned 56,304 shares in the company, valued at $4,504,320. The trade was a 41.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,338 shares of company stock valued at $7,439,331 in the last 90 days. Insiders own 0.56% of the company’s stock.

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.