Sysco Corporation $SYY Shares Sold by Bruce G. Allen Investments LLC

Bruce G. Allen Investments LLC lessened its holdings in Sysco Corporation (NYSE:SYY) by 23.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 537 shares of the company’s stock after selling 162 shares during the period. Bruce G. Allen Investments LLC’s holdings in Sysco were worth $41,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rialto Wealth Management LLC increased its holdings in Sysco by 188.7% in the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company’s stock worth $25,000 after buying an additional 217 shares during the period. Golden State Wealth Management LLC increased its holdings in Sysco by 48.4% in the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock worth $32,000 after buying an additional 140 shares during the period. N.E.W. Advisory Services LLC acquired a new position in Sysco in the 1st quarter worth approximately $33,000. Capital A Wealth Management LLC acquired a new position in Sysco in the 4th quarter worth approximately $34,000. Finally, 1248 Management LLC acquired a new stake in shares of Sysco during the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

SYY has been the topic of a number of analyst reports. UBS Group set a $90.00 price objective on shares of Sysco in a research note on Wednesday, July 30th. Wall Street Zen cut shares of Sysco from a “buy” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company set a $88.00 price objective on shares of Sysco and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. raised their price objective on shares of Sysco from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 20th. Finally, Truist Financial raised their price objective 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. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.69.

Insider Buying and Selling at Sysco

In other news, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the transaction, the executive vice president owned 56,304 shares in the company, valued at $4,504,320. The trade was a 41.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ronald L. Phillips sold 37,606 shares of Sysco stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total value of $3,046,086.00. Following the transaction, the executive vice president owned 30,235 shares in the company, valued at approximately $2,449,035. This represents a 55.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,338 shares of company stock worth $7,439,331. Insiders own 0.54% of the company’s stock.

Sysco Stock Up 2.1%

NYSE SYY opened at $81.56 on Wednesday. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $83.17. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. The business’s fifty day simple moving average is $79.87 and its 200-day simple moving average is $75.43. The firm has a market cap of $39.54 billion, a PE ratio of 21.87, a P/E/G ratio of 2.47 and a beta of 0.80.

Sysco (NYSE:SYY) last posted its quarterly 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 business had revenue of $21.14 billion for the quarter, compared to analyst estimates of $21.01 billion. During the same quarter in the previous year, the firm earned $1.39 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, equities analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, October 3rd. Sysco’s payout ratio is currently 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.