Handelsbanken Fonder AB Lowers Stake in Sysco Corporation $SYY

Handelsbanken Fonder AB lowered its stake in shares of Sysco Corporation (NYSE:SYY) by 25.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 203,050 shares of the company’s stock after selling 70,034 shares during the period. Handelsbanken Fonder AB’s holdings in Sysco were worth $16,971,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of SYY. Lloyd Advisory Services LLC. acquired a new position in shares of Sysco during the fourth quarter worth about $25,000. Motiv8 Investments LLC purchased a new position in Sysco in the 4th quarter valued at approximately $25,000. Sunbelt Securities Inc. raised its stake in shares of Sysco by 87.6% during the 1st quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock worth $26,000 after buying an additional 170 shares during the last quarter. Torren Management LLC purchased a new stake in shares of Sysco in the fourth quarter valued at about $27,000. Finally, Bard Associates Inc. acquired a new stake in Sysco during the 4th quarter valued at $27,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Trading Up 0.6%

NYSE:SYY opened at $84.76 on Thursday. The business has a 50 day simple moving average of $81.89 and a 200 day simple moving average of $80.56. The firm has a market capitalization of $40.58 billion, a P/E ratio of 23.16, a P/E/G ratio of 2.89 and a beta of 0.64. The company has a debt-to-equity ratio of 4.62, a current ratio of 1.28 and a quick ratio of 0.77. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. The firm had revenue of $22.12 billion for the quarter, compared to the consensus estimate of $21.95 billion. Sysco had a net margin of 2.08% and a return on equity of 95.05%. Sysco’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $1.48 EPS. 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 EPS for the current year.

Insider Transactions at Sysco

In related news, EVP Ronald L. Phillips sold 367 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $83.39, for a total value of $30,604.13. Following the completion of the sale, the executive vice president owned 38,650 shares of the company’s stock, valued at $3,223,023.50. This represents a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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. Also, Director John M. Hinshaw acquired 13,304 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average price of $75.17 per share, with a total value of $1,000,061.68. Following 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 disclosure for this purchase is available in the SEC filing. 0.56% of the stock is owned by insiders.

Analysts Set New Price Targets

SYY has been the topic of several analyst reports. Melius Research cut shares of Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. UBS Group upped their price target on Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sysco in a research report on Friday, June 26th. Sanford C. Bernstein dropped their price objective 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. Finally, Barclays dropped their target price on Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $89.50.

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.