NewEdge Wealth LLC Buys Shares of 11,887 Sysco Corporation $SYY

NewEdge Wealth LLC bought a new stake in shares of Sysco Corporation (NYSE:SYY) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 11,887 shares of the company’s stock, valued at approximately $876,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SYY. Jackson Grant Investment Advisers Inc. acquired a new position in Sysco during the 3rd quarter worth $25,000. Peterson Wealth Services raised its stake in shares of Sysco by 875.7% in the 3rd quarter. Peterson Wealth Services now owns 361 shares of the company’s stock valued at $30,000 after purchasing an additional 324 shares in the last quarter. Torren Management LLC bought a new position in shares of Sysco during the fourth quarter worth about $27,000. Marquette Asset Management LLC grew its stake in Sysco by 367.4% in the fourth quarter. Marquette Asset Management LLC now owns 402 shares of the company’s stock worth $30,000 after purchasing an additional 316 shares in the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in Sysco in the second quarter worth about $31,000. Institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

SYY has been the topic of several research reports. Guggenheim cut their price objective on Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. BMO Capital Markets reiterated an “outperform” rating on shares of Sysco in a report on Wednesday, January 28th. Sanford C. Bernstein dropped their price target on Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 29th. Argus upgraded Sysco to a “hold” rating in a research note on Thursday, January 29th. Finally, Citigroup lifted their price objective on shares of Sysco from $78.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.15.

Sysco Stock Performance

Shares of SYY stock opened at $73.02 on Friday. The company has a market cap of $34.92 billion, a P/E ratio of 20.23, a PEG ratio of 2.99 and a beta of 0.66. The business has a 50 day moving average of $77.27 and a two-hundred day moving average of $78.06. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 5.58.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Sysco had a return on equity of 103.57% and a net margin of 2.08%.The company had revenue of $20.52 billion for the quarter, compared to analyst estimates of $20.56 billion. During the same quarter in the previous year, the company posted $0.96 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. As a group, analysts anticipate that Sysco Corporation will post 4.59 EPS for the current year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Thursday, July 2nd will be paid a $0.55 dividend. The ex-dividend date is Thursday, July 2nd. This is a positive change from Sysco’s previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a yield of 3.0%. Sysco’s dividend payout ratio (DPR) is 59.83%.

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.