Simplicity Wealth LLC Buys Shares of 12,930 Sysco Corporation $SYY

Simplicity Wealth LLC purchased a new position in shares of Sysco Corporation (NYSE:SYY) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 12,930 shares of the company’s stock, valued at approximately $1,081,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Montag A & Associates Inc. raised its stake 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 in the last quarter. United Community Bank grew its stake in shares of Sysco by 11.4% during the fourth quarter. United Community Bank now owns 1,224 shares of the company’s stock valued at $90,000 after purchasing an additional 125 shares during the last quarter. First Citizens Bank & Trust Co. lifted its holdings in 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 buying an additional 138 shares in the last quarter. Diversify Wealth Management LLC increased its stake in shares of 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 during the period. Finally, Arax Advisory Partners boosted its holdings in Sysco by 2.4% in the fourth quarter. Arax Advisory Partners now owns 6,222 shares of the company’s stock valued at $458,000 after acquiring an additional 145 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

Sysco stock opened at $82.94 on Monday. The business’s 50 day simple moving average is $82.21 and its 200 day simple moving average is $80.66. 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 $39.71 billion, a price-to-earnings ratio of 22.66, a PEG ratio of 2.84 and a beta of 0.64. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62.

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

Analysts Set New Price Targets

Several research analysts have weighed in on SYY shares. Sanford C. Bernstein reduced their target price on Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft cut shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 price target for the company. in a report on Tuesday, April 28th. UBS Group upped their target price on shares of Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Barclays dropped their target price on Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Finally, Citigroup boosted their price objective on shares of Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Eight research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $89.50.

Insider Buying and Selling at Sysco

In other Sysco news, Director John M. Hinshaw bought 13,304 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were acquired at an average cost of $75.17 per share, for a total transaction 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ronald L. Phillips sold 6,285 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $83.94, for a total transaction of $527,562.90. Following the completion of the sale, the executive vice president directly owned 39,970 shares in the company, valued at $3,355,081.80. This represents a 13.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Corporate insiders own 0.56% of the company’s stock.

Sysco 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.