19,371 Shares in Sysco Corporation $SYY Acquired by 1ST Source Bank

Key Points

• 1ST Source Bank acquired 19,371 Sysco shares during the second quarter, valued at approximately $1.62 million. Institutional investors collectively own 83.41% of Sysco’s outstanding stock.
• Sysco reported quarterly EPS of $1.53, beating estimates by $0.02, while revenue rose 4.7% year over year to $22.12 billion. The company issued fiscal 2027 EPS guidance of $5.025 to $5.117.
• Sysco shares opened at $82.94, near their 50-day moving average, and analysts maintain an overall “Hold” rating with an average price target of $89.50.

1ST Source Bank purchased a new stake in Sysco Corporation (NYSE:SYY - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 19,371 shares of the company's stock, valued at approximately $1,619,000.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Sysco by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company's stock valued at $4,591,281,000 after buying an additional 814,270 shares during the period. State Street Corp lifted its holdings in Sysco by 0.9% in the 3rd quarter. State Street Corp now owns 26,669,576 shares of the company's stock worth $2,195,973,000 after buying an additional 246,542 shares in the last quarter. Geode Capital Management LLC boosted its position in Sysco by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company's stock valued at $934,391,000 after buying an additional 131,659 shares during the last quarter. Norges Bank acquired a new stake in shares of Sysco during the fourth quarter valued at about $542,780,000. Finally, Morgan Stanley increased its position in shares of Sysco by 9.0% during the fourth quarter. Morgan Stanley now owns 6,058,405 shares of the company's stock worth $446,444,000 after acquiring an additional 500,881 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Trading Down 0.1%

Shares of NYSE:SYY opened at $82.94 on Monday. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62. The company's 50-day moving average price is $82.21 and its 200 day moving average price is $80.66. The company has a market cap of $39.71 billion, a PE ratio of 22.66, a P/E/G ratio of 2.84 and a beta of 0.64. Sysco Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.51 by $0.02. Sysco had a return on equity of 95.05% and a net margin of 2.08%.The business had revenue of $22.12 billion during the quarter, compared to analyst estimates of $21.95 billion. During the same period in the prior year, the company posted $1.48 EPS. 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. Sell-side analysts anticipate that Sysco Corporation will post 5.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

SYY has been the subject of a number of recent analyst reports. Weiss Ratings reissued a "hold (c+)" rating on shares of Sysco in a research report on Friday, June 26th. 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 report on Thursday, July 16th. Wall Street Zen lowered shares of Sysco from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Citigroup boosted their price objective on shares of Sysco from $82.00 to $86.00 and gave the company a "neutral" rating in a research report on Wednesday, August 5th. Finally, Melius Research cut shares of Sysco from a "hold" rating to a "sell" rating in a report on Tuesday, July 7th. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $89.50.

Insiders Place Their Bets

In other Sysco news, Director John M. Hinshaw bought 13,304 shares of Sysco stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average cost 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 represents a 49.46% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ronald L. Phillips sold 6,285 shares of the company's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $83.94, for a total value of $527,562.90. Following the completion of the transaction, the executive vice president directly owned 39,970 shares in the company, valued at $3,355,081.80. This represents a 13.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Company insiders own 0.56% of the company's stock.

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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