Rathbones Group PLC trimmed its stake in shares of Sysco Corporation (NYSE:SYY – Free Report) by 15.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 48,896 shares of the company’s stock after selling 9,264 shares during the period. Rathbones Group PLC’s holdings in Sysco were worth $3,488,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Intech Investment Management LLC grew its position in shares of Sysco by 53.1% during the first quarter. Intech Investment Management LLC now owns 22,310 shares of the company’s stock valued at $1,674,000 after purchasing an additional 7,742 shares in the last quarter. Schnieders Capital Management LLC. lifted its position in shares of Sysco by 24.1% in the second quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company’s stock worth $781,000 after buying an additional 2,000 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Sysco by 62.4% during the second quarter. NewEdge Advisors LLC now owns 35,447 shares of the company’s stock valued at $2,685,000 after buying an additional 13,616 shares during the last quarter. Sei Investments Co. grew its holdings in Sysco by 14.2% during the 2nd quarter. Sei Investments Co. now owns 344,504 shares of the company’s stock valued at $26,092,000 after buying an additional 42,903 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in Sysco by 0.8% in the 2nd quarter. Treasurer of the State of North Carolina now owns 226,648 shares of the company’s stock worth $17,166,000 after acquiring an additional 1,710 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Sysco
In other news, Director John M. Hinshaw purchased 13,304 shares of the 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 acquisition, the director 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.56% of the company’s stock.
Sysco Trading Down 2.4%
Sysco (NYSE:SYY – Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.02. Sysco had a return on equity of 103.57% and a net margin of 2.08%.The business had revenue of $22.12 billion during the quarter, compared to the consensus estimate of $21.95 billion. During the same period last year, the company earned $1.48 earnings per share. The business’s revenue for the quarter 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 expect that Sysco Corporation will post 4.59 earnings per share for the current year.
More Sysco News
Here are the key news stories impacting Sysco this week:
- Positive Sentiment: Fourth-quarter results exceeded expectations. Sysco reported $22.1 billion in sales, up 4.7% year over year and above the $21.95 billion consensus estimate. Adjusted EPS was $1.53, topping expectations of $1.51 and increasing from $1.48 a year earlier. Operating income rose 10.6% to $983 million. Reuters earnings article
- Positive Sentiment: Management issued an upbeat fiscal 2027 outlook. Sysco expects sales growth of 6%-7% and adjusted EPS growth of 9%-11%, above analyst expectations of roughly 5% EPS growth. The forecast includes approximately $100 million in cost savings from AI-enabled productivity, inventory, routing and back-office initiatives. Sysco fiscal 2026 results
- Positive Sentiment: Underlying demand remained healthy. U.S. Foodservice case volume increased 2.5%, local volume rose 2.6%, and international sales grew 6.7%. Operating cash flow increased to $2.6 billion, while free cash flow rose 16.3% to $2.1 billion. Sysco also returned $1.2 billion to shareholders through dividends and repurchases.
- Neutral Sentiment: International operations were a notable growth contributor. International adjusted operating income increased 15.7% in the quarter, although part of reported sales growth benefited from currency movements.
- Negative Sentiment: Lettuce sourcing was halted because of the outbreak. CEO Kevin Hourican said Sysco stopped buying iceberg lettuce from Taylor Farms and Mexico amid the cyclosporiasis outbreak. The precaution may protect customers and limit food-safety risk, but it could create temporary sourcing costs or availability issues. Reuters lettuce sourcing article
- Negative Sentiment: Margins remained a concern. Fourth-quarter gross margin fell 17 basis points to 18.7% as product-cost inflation reached 2.8%. For the full year, GAAP net earnings declined 3.9% and diluted EPS fell 1.9%, while higher interest expense and leverage remain relevant risks.
Analysts Set New Price Targets
A number of research analysts have recently commented on the company. Barclays lowered their target price on Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Piper Sandler lowered their price objective on shares of Sysco from $83.00 to $77.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Morgan Stanley lifted their price objective on shares of Sysco from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. Finally, Melius Research cut shares of Sysco from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th. Eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $88.00.
View Our Latest Research Report on SYY
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.
Read More
- Five stocks we like better than Sysco
- System Upgrade: First Internet Bancorp Options Surge
- AI Security Breaches Raise New Risks for Microsoft and Amazon’s Agent Push
- The AI Chip Blockade Is Creating a Shadow Market
- Grab Holdings Stock Forms Bottom After Strong Beat-and-Raise Quarter
Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sysco Corporation (NYSE:SYY – Free Report).
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.
