Elevation Point Wealth Partners LLC Acquires 12,381 Shares of Sysco Corporation $SYY

Elevation Point Wealth Partners LLC boosted its holdings in Sysco Corporation (NYSE:SYY) by 390.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,549 shares of the company’s stock after buying an additional 12,381 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Sysco were worth $1,109,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Montag A & Associates Inc. boosted its holdings 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 worth $644,000 after acquiring an additional 123 shares during the period. United Community Bank lifted its holdings in 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 in the last quarter. First Citizens Bank & Trust Co. boosted its stake in Sysco by 1.2% in 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 period. Octavia Wealth Advisors LLC boosted its stake in Sysco by 4.6% in the 4th quarter. Octavia Wealth Advisors LLC now owns 3,231 shares of the company’s stock worth $237,000 after purchasing an additional 141 shares during the period. Finally, Diversify Wealth Management LLC grew its holdings in Sysco by 1.6% during 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. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Down 0.6%

Shares of SYY opened at $84.35 on Tuesday. The firm’s 50 day simple moving average is $76.88 and its 200 day simple moving average is $78.91. The company has a market capitalization of $40.33 billion, a P/E ratio of 23.37, a P/E/G ratio of 3.21 and a beta of 0.64. The company has a debt-to-equity ratio of 5.58, a current ratio of 1.33 and a quick ratio of 0.80. Sysco Corporation has a 1-year low of $68.19 and a 1-year high of $91.85.

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

Sysco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Thursday, July 2nd will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.6%. This is an increase from Sysco’s previous quarterly dividend of $0.54. Sysco’s payout ratio is presently 60.94%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SYY shares. Melius Research downgraded shares of Sysco from a “hold” rating to a “sell” rating in a report on Tuesday. Wall Street Zen cut shares of Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. UBS Group cut their price target on shares of Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Citigroup upped their price target on shares of Sysco from $78.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Finally, Guggenheim lowered their price objective on Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, April 2nd. Nine investment 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, Sysco currently has a consensus rating of “Hold” and an average target price of $88.15.

Insider Transactions at Sysco

In other news, Director John M. Hinshaw bought 13,304 shares of Sysco stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the purchase, the director directly owned 40,200 shares in the company, valued at $3,021,834. The trade was a 49.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.56% of the company’s stock.

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.