Everett Harris & Co. CA bought a new position in shares of Sysco Corporation (NYSE:SYY – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 41,903 shares of the company’s stock, valued at approximately $3,502,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in SYY. Montag A & Associates Inc. raised its stake in Sysco by 1.4% during the 4th quarter. Montag A & Associates Inc. now owns 8,743 shares of the company’s stock valued at $644,000 after acquiring an additional 123 shares during the last quarter. United Community Bank increased its holdings in shares of Sysco by 11.4% in the fourth quarter. United Community Bank now owns 1,224 shares of the company’s stock valued at $90,000 after purchasing an additional 125 shares during the period. First Citizens Bank & Trust Co. raised its stake in shares of Sysco by 1.2% during the fourth 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 last quarter. Diversify Wealth Management LLC lifted its holdings in shares of Sysco by 1.6% during the fourth quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company’s stock worth $698,000 after purchasing an additional 143 shares during the period. Finally, Arax Advisory Partners grew its position in Sysco by 2.4% in the 4th quarter. Arax Advisory Partners now owns 6,222 shares of the company’s stock valued at $458,000 after buying an additional 145 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.
Insiders Place Their Bets
In related news, Director John M. Hinshaw acquired 13,304 shares of Sysco stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average price of $75.17 per share, for a total transaction 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ronald L. Phillips sold 6,285 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $83.94, for a total transaction of $527,562.90. Following the sale, the executive vice president directly owned 39,970 shares in the company, valued at approximately $3,355,081.80. This represents a 13.59% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.56% of the company’s stock.
Sysco Stock Down 0.7%
Sysco (NYSE:SYY – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. Sysco had a return on equity of 95.05% and a net margin of 2.08%.The firm had revenue of $22.12 billion during the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter in the prior year, the business posted $1.48 earnings per share. Sysco’s revenue was up 4.7% compared to the same quarter last year. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. On average, sell-side analysts predict that Sysco Corporation will post 5.1 EPS for the current fiscal year.
Analyst Ratings Changes
A number of equities analysts have commented on SYY shares. Citigroup upped their price objective on shares of Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. UBS Group lifted their target price on shares of Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Sanford C. Bernstein dropped their price target on shares of Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sysco in a research note on Friday, June 26th. Finally, Barclays cut their price target on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $89.50.
Read Our Latest Stock Report on SYY
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.
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