Assetmark Inc. Grows Stock Position in Sysco Corporation $SYY

Assetmark Inc. increased its holdings in Sysco Corporation (NYSE:SYY) by 3,129.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,017 shares of the company’s stock after buying 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.

Several other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners lifted its holdings in Sysco by 24.8% in the 1st quarter. Boston Partners now owns 15,199,828 shares of the company’s stock valued at $1,139,798,000 after purchasing an additional 3,015,714 shares in the last quarter. Nuveen LLC acquired a new stake in Sysco during the first quarter worth approximately $85,341,000. Amundi boosted its position in Sysco by 36.5% during the first quarter. Amundi now owns 3,725,508 shares of the company’s stock worth $280,941,000 after acquiring an additional 995,498 shares during the last quarter. Mackenzie Financial Corp boosted its position in Sysco by 1,940.1% during the first quarter. Mackenzie Financial Corp now owns 1,016,660 shares of the company’s stock worth $76,290,000 after acquiring an additional 966,826 shares during the last quarter. Finally, Burgundy Asset Management Ltd. boosted its position in Sysco by 38.8% during the first quarter. Burgundy Asset Management Ltd. now owns 2,015,994 shares of the company’s stock worth $151,280,000 after acquiring an additional 563,921 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SYY. Barclays upped their target price on Sysco from $82.00 to $86.00 and gave the company an “overweight” rating in a research note on Wednesday. Bank of America upped their price objective on shares of Sysco from $81.00 to $93.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Wells Fargo & Company set a $88.00 price target on Sysco and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Finally, Sanford C. Bernstein started coverage on Sysco in a research report on Wednesday, October 22nd. They set a “market perform” rating and a $83.00 price target for the company. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Sysco has a consensus rating of “Moderate Buy” and a consensus price target of $87.31.

Insiders Place Their Bets

In other Sysco news, EVP Ronald L. Phillips sold 7,351 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $81.00, for a total value of $595,431.00. Following the completion of the transaction, the executive vice president owned 41,837 shares in the company, valued at $3,388,797. This represents a 14.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 14,732 shares of company stock valued at $1,193,245. 0.56% of the stock is owned by corporate insiders.

Sysco Stock Down 0.5%

NYSE SYY opened at $74.35 on Monday. The stock has a market cap 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 Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $83.47. The business has a 50 day moving average price of $80.08 and a two-hundred day moving average price of $77.08. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 5.54.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, October 28th. The company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. The firm had revenue of $21.15 billion during the quarter, compared to analysts’ expectations of $21.03 billion. Sysco had a return on equity of 112.04% and a net margin of 2.21%.Sysco’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, sell-side analysts predict that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

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

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.