ProVise Management Group LLC Raises Holdings in Sysco Corporation $SYY

ProVise Management Group LLC raised its stake in Sysco Corporation (NYSE:SYY) by 79.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,507 shares of the company’s stock after purchasing an additional 8,212 shares during the period. ProVise Management Group LLC’s holdings in Sysco were worth $1,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in SYY. Jackson Grant Investment Advisers Inc. purchased a new stake in shares of Sysco during the third quarter worth approximately $25,000. Harbor Capital Advisors Inc. raised its holdings in Sysco by 75.0% in the third quarter. Harbor Capital Advisors Inc. now owns 315 shares of the company’s stock valued at $26,000 after acquiring an additional 135 shares in the last quarter. Peterson Wealth Services lifted its stake in Sysco by 875.7% in the third quarter. Peterson Wealth Services now owns 361 shares of the company’s stock worth $30,000 after acquiring an additional 324 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in Sysco during the 2nd quarter worth approximately $31,000. Finally, Vermillion & White Wealth Management Group LLC grew its holdings in Sysco by 94.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 419 shares of the company’s stock worth $32,000 after acquiring an additional 204 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SYY. Truist Financial raised their price objective on shares of Sysco from $90.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. UBS Group boosted 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, January 28th. Citigroup raised their price target on Sysco from $81.00 to $88.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. Jefferies Financial Group lifted their price target on Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Finally, Sanford C. Bernstein set a $90.00 price objective on Sysco and gave the stock a “market perform” rating in a research report on Wednesday, January 28th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $90.31.

Insider Activity

In related news, EVP Ronald L. Phillips sold 5,601 shares of the firm’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $81.00, for a total transaction of $453,681.00. Following the transaction, the executive vice president owned 35,965 shares in the company, valued at $2,913,165. This trade represents a 13.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sheila Talton sold 2,801 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $82.99, for a total value of $232,454.99. Following the completion of the sale, the director owned 12,868 shares of the company’s stock, valued at approximately $1,067,915.32. This represents a 17.88% decrease in their position. The SEC filing for this sale provides additional information. 0.56% of the stock is currently owned by insiders.

Sysco Stock Down 0.6%

Shares of NYSE:SYY opened at $85.30 on Monday. The firm has a 50 day simple moving average of $82.35 and a 200-day simple moving average of $79.34. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $91.85. The company has a current ratio of 1.30, a quick ratio of 0.75 and a debt-to-equity ratio of 5.45. The company has a market capitalization of $40.85 billion, a PE ratio of 22.93, a P/E/G ratio of 2.65 and a beta of 0.58.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 27th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. Sysco had a net margin of 2.17% and a return on equity of 109.21%. The firm had revenue of $20.76 billion for the quarter, compared to the consensus estimate of $20.80 billion. During the same period last year, the firm posted $0.93 EPS. The company’s revenue was up 3.0% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. On average, equities analysts predict that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Stockholders of record on Thursday, April 2nd will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, April 2nd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.5%. Sysco’s payout ratio is 58.06%.

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.