Assetmark Inc. Buys 10,547 Shares of Sysco Corporation $SYY

Assetmark Inc. raised its stake in Sysco Corporation (NYSE:SYY) by 6.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 171,824 shares of the company’s stock after acquiring an additional 10,547 shares during the quarter. Assetmark Inc.’s holdings in Sysco were worth $12,256,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Lloyd Advisory Services LLC. purchased a new stake in Sysco in the 4th quarter worth about $25,000. Motiv8 Investments LLC purchased a new stake in Sysco during the fourth quarter valued at about $25,000. Torren Management LLC purchased a new position in shares of Sysco in the fourth quarter worth about $27,000. Bard Associates Inc. bought a new stake in shares of Sysco in the fourth quarter valued at approximately $27,000. Finally, Elyxium Wealth LLC bought a new stake in shares of Sysco in the fourth quarter valued at approximately $28,000. 83.41% of the stock is owned by institutional investors.

Sysco Trading Down 1.1%

Shares of SYY opened at $80.79 on Tuesday. Sysco Corporation has a 1-year low of $68.19 and a 1-year high of $91.85. The company has a market capitalization of $38.63 billion, a P/E ratio of 22.38, a P/E/G ratio of 3.12 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. The firm’s 50 day simple moving average is $78.79 and its 200 day simple moving average is $79.53.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $20.56 billion. During the same quarter last year, the firm posted $0.96 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. 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.

Analysts Set New Price Targets

SYY has been the topic of several recent research reports. Melius Research downgraded Sysco from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sysco in a research report on Friday, June 26th. Sanford C. Bernstein decreased their price objective on Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 29th. Morgan Stanley increased their price objective on Sysco from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. Finally, Barclays cut their target price on Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $88.00.

Insiders Place Their Bets

In other Sysco news, Director John M. Hinshaw purchased 13,304 shares of the stock in a transaction on Tuesday, May 26th. The stock was acquired at an average cost 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 of the company’s stock, valued at approximately $3,021,834. This trade represents a 49.46% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.56% of the stock is owned by insiders.

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.