Wealthfront Advisers LLC Invests $7.98 Million in Sysco Corporation $SYY

Wealthfront Advisers LLC bought a new stake in shares of Sysco Corporation (NYSE:SYY) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 95,424 shares of the company’s stock, valued at approximately $7,976,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SYY. Montag A & Associates Inc. grew its position in shares of Sysco by 1.4% in the fourth quarter. Montag A & Associates Inc. now owns 8,743 shares of the company’s stock valued at $644,000 after purchasing an additional 123 shares during the period. United Community Bank raised its position in shares of Sysco by 11.4% during the 4th quarter. United Community Bank now owns 1,224 shares of the company’s stock worth $90,000 after purchasing an additional 125 shares during the last quarter. First Citizens Bank & Trust Co. raised its position in shares of Sysco by 1.2% during the 4th quarter. First Citizens Bank & Trust Co. now owns 11,224 shares of the company’s stock worth $827,000 after purchasing an additional 138 shares during the last quarter. Diversify Wealth Management LLC lifted its stake in Sysco by 1.6% in the 4th quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company’s stock valued at $698,000 after buying an additional 143 shares in the last quarter. Finally, Arax Advisory Partners lifted its stake in Sysco by 2.4% in the 4th quarter. Arax Advisory Partners now owns 6,222 shares of the company’s stock valued at $458,000 after buying an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insiders Place Their Bets

In related news, Director John M. Hinshaw bought 13,304 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was acquired at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the purchase, the director directly owned 40,200 shares of the company’s stock, valued at $3,021,834. The trade was a 49.46% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ronald L. Phillips sold 6,285 shares of Sysco 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 transaction, the executive vice president owned 39,970 shares in the company, valued at approximately $3,355,081.80. This represents a 13.59% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Melius Research lowered Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Barclays dropped their price target on Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Sanford C. Bernstein reduced their price objective on Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a research note on Wednesday, April 29th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Sysco in a report on Friday, June 26th. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $89.50.

Sysco Stock Up 0.8%

SYY stock opened at $82.58 on Thursday. 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 firm has a 50-day moving average of $82.48 and a two-hundred day moving average of $80.62. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85. The company has a market cap of $39.53 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 2.81 and a beta of 0.64.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.02. The business had revenue of $22.12 billion for the quarter, compared to analysts’ expectations of $21.95 billion. Sysco had a return on equity of 95.05% and a net margin of 2.08%.The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.48 EPS. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. As a group, analysts forecast that Sysco Corporation will post 5.1 earnings per share for the current fiscal year.

Sysco Company Profile

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.