Belpointe Asset Management LLC Boosts Stock Position in Sysco Corporation $SYY

Belpointe Asset Management LLC increased its stake in shares of Sysco Corporation (NYSE:SYY) by 9.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,789 shares of the company’s stock after purchasing an additional 1,056 shares during the quarter. Belpointe Asset Management LLC’s holdings in Sysco were worth $960,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC increased its position in Sysco by 188.7% during the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company’s stock worth $25,000 after purchasing an additional 217 shares in the last quarter. Golden State Wealth Management LLC increased its position in Sysco by 48.4% during the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock worth $32,000 after purchasing an additional 140 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in Sysco during the 1st quarter worth about $33,000. Capital A Wealth Management LLC purchased a new stake in Sysco during the 4th quarter worth about $34,000. Finally, 1248 Management LLC purchased a new stake in Sysco during the 1st quarter worth about $35,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on SYY. Wells Fargo & Company set a $88.00 price objective on Sysco and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. UBS Group set a $90.00 price target on Sysco in a research note on Wednesday, July 30th. Citigroup started coverage on Sysco in a research note on Thursday, May 22nd. They issued a “neutral” rating and a $78.00 price target on the stock. JPMorgan Chase & Co. raised their price target on 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 target on Sysco from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.69.

Sysco Stock Performance

NYSE SYY opened at $81.07 on Friday. The firm has a market capitalization of $39.30 billion, a P/E ratio of 21.73, a P/E/G ratio of 2.48 and a beta of 0.80. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $83.17. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70. The business’s 50-day simple moving average is $79.61 and its 200-day simple moving average is $75.30.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.09. The business had revenue of $21.14 billion for the quarter, compared to analyst estimates of $21.01 billion. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The company’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Equities analysts predict that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, October 3rd. Sysco’s payout ratio is currently 57.91%.

Insider Activity

In other news, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total value of $3,200,000.00. Following the transaction, the executive vice president directly owned 56,304 shares of the company’s stock, valued at $4,504,320. The trade was a 41.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Ronald L. Phillips sold 37,606 shares of Sysco stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total value of $3,046,086.00. Following the completion of the transaction, the executive vice president directly owned 30,235 shares in the company, valued at $2,449,035. This represents a 55.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 91,377 shares of company stock worth $7,361,490 over the last ninety days. Corporate insiders own 0.54% of the company’s stock.

Sysco 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.