Illinois Municipal Retirement Fund cut its holdings in shares of Sysco Corporation (NYSE:SYY – Free Report) by 17.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 205,602 shares of the company’s stock after selling 43,641 shares during the period. Illinois Municipal Retirement Fund’s holdings in Sysco were worth $14,666,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Lloyd Advisory Services LLC. purchased a new stake in Sysco during the 4th quarter worth approximately $25,000. Motiv8 Investments LLC purchased a new position in Sysco in the 4th quarter valued at approximately $25,000. Bard Associates Inc. purchased a new position in Sysco in the 4th quarter valued at approximately $27,000. Torren Management LLC acquired a new position in shares of Sysco in the fourth quarter worth $27,000. Finally, Elyxium Wealth LLC acquired a new position in shares of Sysco in the fourth quarter worth $28,000. Institutional investors and hedge funds own 83.41% of the company’s stock.
Insider Buying and Selling at Sysco
In related news, Director John M. Hinshaw purchased 13,304 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were purchased at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the acquisition, the director directly owned 40,200 shares in the company, valued at $3,021,834. This represents a 49.46% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.56% of the company’s stock.
Sysco Stock Up 1.7%
Sysco (NYSE:SYY – Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The business had revenue of $20.52 billion for the quarter, compared to analyst estimates of $20.56 billion. Sysco had a return on equity of 103.57% and a net margin of 2.08%.The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.96 EPS. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. Equities research analysts expect that Sysco Corporation will post 4.59 earnings per share for the current year.
Analysts Set New Price Targets
Several brokerages have recently issued reports on SYY. Sanford C. Bernstein reduced 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 upped their price target on Sysco from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Thursday. Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Citigroup lifted their price objective on Sysco from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Finally, UBS Group cut their target price on shares of Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Nine research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $88.38.
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.
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