Assetmark Inc. Grows Holdings in Sysco Corporation $SYY

Assetmark Inc. grew its holdings in shares of Sysco Corporation (NYSE:SYY) by 3,129.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 74,017 shares of the company’s stock after acquiring an additional 71,725 shares during the period. Assetmark Inc.’s holdings in Sysco were worth $5,606,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Chung Wu Investment Group LLC purchased a new position in shares of Sysco during the 2nd quarter valued at approximately $30,000. N.E.W. Advisory Services LLC purchased a new position in shares of Sysco during the 1st quarter valued at approximately $33,000. Cheviot Value Management LLC bought a new position in Sysco during the first quarter worth $34,000. 1248 Management LLC bought a new position in Sysco during the first quarter worth $35,000. Finally, Banque Transatlantique SA bought a new position in Sysco during the first quarter worth $35,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SYY shares. Wells Fargo & Company set a $88.00 price objective on Sysco and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Sanford C. Bernstein started coverage on Sysco in a research note on Wednesday, October 22nd. They set a “market perform” rating and a $83.00 price objective on the stock. Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Truist Financial raised their price objective on Sysco from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Finally, Bank of America raised their price objective on Sysco from $81.00 to $93.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Sysco has an average rating of “Moderate Buy” and an average price target of $87.31.

Sysco Price Performance

Shares of NYSE SYY opened at $74.35 on Monday. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $83.47. The company has a debt-to-equity ratio of 5.54, a current ratio of 1.15 and a quick ratio of 0.70. The business’s fifty day moving average price is $80.08 and its two-hundred day moving average price is $77.08. The firm has a market capitalization of $35.60 billion, a PE ratio of 19.93, a P/E/G ratio of 2.19 and a beta of 0.82.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, October 28th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.03. Sysco had a return on equity of 112.04% and a net margin of 2.21%.The firm had revenue of $21.15 billion for the quarter, compared to analyst estimates of $21.03 billion. During the same period last year, the company earned $1.09 earnings per share. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, research analysts expect that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 24th. Stockholders of record on Friday, October 3rd were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, October 3rd. Sysco’s dividend payout ratio (DPR) is 57.91%.

Insider Activity at Sysco

In other news, EVP Ronald L. Phillips sold 7,351 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $81.00, for a total transaction of $595,431.00. Following the transaction, the executive vice president directly owned 41,837 shares of the company’s stock, valued at approximately $3,388,797. This trade represents a 14.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 14,732 shares of company stock worth $1,193,245 over the last quarter. 0.56% of the stock is currently owned by company insiders.

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.