HBK Sorce Advisory LLC bought a new position in Sysco Corporation (NYSE:SYY – Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 11,309 shares of the company’s stock, valued at approximately $952,000.
A number of other large investors have also added to or reduced their stakes in the company. Flputnam Investment Management Co. bought a new stake in Sysco during the second quarter worth about $3,323,000. Global Retirement Partners LLC bought a new position in shares of Sysco during the 2nd quarter valued at about $1,348,000. 1ST Source Bank purchased a new position in shares of Sysco during the 2nd quarter valued at about $1,619,000. Bank of New York Mellon Corp bought a new stake in Sysco in the 2nd quarter worth approximately $273,323,000. Finally, Focus Partners Advisor Solutions LLC bought a new stake in Sysco in the 2nd quarter worth approximately $1,467,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have commented on SYY. Piper Sandler increased their price target on shares of Sysco from $77.00 to $84.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Barclays lowered their price objective 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. Melius Research cut shares of Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Citigroup lifted their target price 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. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 price target for the company. in a research note on Tuesday, April 28th. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $89.50.
Insider Transactions at Sysco
In other news, Director John M. Hinshaw acquired 13,304 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were purchased at an average price of $75.17 per share, for a total transaction of $1,000,061.68. Following the completion of the transaction, the director owned 40,200 shares of the company’s stock, valued at $3,021,834. The trade was a 49.46% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ronald L. Phillips sold 6,285 shares of the 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 owned 39,970 shares of the company’s stock, valued at approximately $3,355,081.80. This represents a 13.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. 0.56% of the stock is currently owned by insiders.
Sysco Stock Performance
NYSE:SYY opened at $82.94 on Monday. The company has a debt-to-equity ratio of 4.62, a quick ratio of 0.77 and a current ratio of 1.28. Sysco Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85. The firm has a market cap of $39.71 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 2.84 and a beta of 0.64. The business has a 50 day moving average price of $82.21 and a 200-day moving average price of $80.66.
Sysco (NYSE:SYY – Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.51 by $0.02. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The company had revenue of $22.12 billion for the quarter, compared to the consensus estimate of $21.95 billion. During the same period in the previous year, the firm earned $1.48 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. Equities research analysts predict that Sysco Corporation will post 5.1 earnings per share for the current year.
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.
Featured Articles
- Five stocks we like better than Sysco
- The Metals Company’s Big Bet Now Comes Down to a License
- OneSpaWorld Keeps Turning Cruise Demand Into Record Earnings
- Meta and Tesla Are Rebounding From Oversold Levels—Now What?
- AMG’s Alternatives Boom Powers Record Growth
Receive News & Ratings for Sysco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sysco and related companies with MarketBeat.com's FREE daily email newsletter.
