Valmark Advisers Inc. Grows Stock Holdings in Sysco Corporation $SYY

Valmark Advisers Inc. grew its holdings in Sysco Corporation (NYSE:SYY) by 15.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,384 shares of the company’s stock after acquiring an additional 445 shares during the period. Valmark Advisers Inc.’s holdings in Sysco were worth $256,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its holdings in Sysco by 1.0% during the first quarter. Invesco Ltd. now owns 17,070,502 shares of the company’s stock worth $1,280,970,000 after buying an additional 162,961 shares in the last quarter. Boston Partners boosted its holdings in Sysco by 24.8% during the first quarter. Boston Partners now owns 15,199,828 shares of the company’s stock worth $1,139,798,000 after buying an additional 3,015,714 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in Sysco by 2.0% during the first quarter. Diamond Hill Capital Management Inc. now owns 7,353,551 shares of the company’s stock worth $551,810,000 after buying an additional 146,573 shares in the last quarter. Northern Trust Corp boosted its holdings in Sysco by 2.6% during the first quarter. Northern Trust Corp now owns 5,828,930 shares of the company’s stock worth $437,403,000 after buying an additional 145,477 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Sysco by 8.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,087,250 shares of the company’s stock worth $381,747,000 after buying an additional 391,614 shares in the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Greg D. Bertrand sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total value of $3,200,000.00. Following the transaction, the executive vice president directly owned 56,304 shares of the company’s stock, valued at approximately $4,504,320. This trade represents a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Ronald L. Phillips sold 37,606 shares of the firm’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the sale, the executive vice president owned 30,235 shares of the company’s stock, valued at approximately $2,449,035. The trade was a 55.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 92,338 shares of company stock worth $7,439,331. Insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of recent analyst reports. Bank of America increased their price target on shares of Sysco from $81.00 to $93.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Barclays upped their price objective on shares of Sysco from $77.00 to $82.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Morgan Stanley upped their price objective on shares of Sysco from $72.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Monday, July 14th. Wells Fargo & Company set a $88.00 price objective on shares of Sysco and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Finally, Wall Street Zen upgraded shares of Sysco from a “hold” rating to a “buy” rating in a research report on Saturday. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.85.

Sysco Stock Performance

NYSE:SYY opened at $78.44 on Friday. The company’s 50-day moving average price is $80.81 and its 200-day moving average price is $76.37. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75. The company has a market cap of $37.53 billion, a P/E ratio of 21.03, a P/E/G ratio of 2.42 and a beta of 0.82. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $83.47.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.09. The firm had revenue of $21.14 billion for the quarter, compared to the consensus estimate of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the firm posted $1.39 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, sell-side analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, October 3rd. Sysco’s dividend payout ratio (DPR) is currently 57.91%.

About Sysco

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.