Andra AP fonden Sells 39,800 Shares of Sysco Corporation $SYY

Key Points

• Andra AP fonden cut its Sysco position by 57.3% in the second quarter, selling 39,800 shares and retaining 29,633 shares valued at approximately $2.48 million. Institutional investors collectively own 83.41% of Sysco.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $89.50; nine analysts rate the stock a Buy, six a Hold, and one a Sell.
• Sysco exceeded quarterly earnings and revenue expectations, reporting $1.53 in adjusted EPS and $22.12 billion in revenue. The company also declared a quarterly dividend of $0.55 per share, representing a 2.9% annualized yield.

Andra AP fonden decreased its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 57.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,633 shares of the company's stock after selling 39,800 shares during the quarter. Andra AP fonden's holdings in Sysco were worth $2,477,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of SYY. N.E.W. Advisory Services LLC bought a new stake in shares of Sysco in the 2nd quarter valued at $29,000. Sunbelt Securities Inc. boosted its holdings in Sysco by 87.6% in the first quarter. Sunbelt Securities Inc. now owns 364 shares of the company's stock worth $26,000 after acquiring an additional 170 shares in the last quarter. Bard Associates Inc. acquired a new stake in Sysco in the fourth quarter valued at approximately $27,000. Markowski Investments bought a new position in shares of Sysco in the 2nd quarter worth $31,000. Finally, Parvin Asset Management LLC acquired a new position in Sysco during the second quarter worth $32,000. Institutional investors own 83.41% of the company's stock.

Insider Transactions at Sysco

In other Sysco news, EVP Ronald Phillips sold 960 shares of the business's stock in a transaction on Friday, September 11th. The shares were sold at an average price of $83.00, for a total transaction of $79,680.00. Following the sale, the executive vice president owned 49,852 shares of the company's stock, valued at $4,137,716. The trade was a 1.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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. Over the last quarter, insiders have sold 15,525 shares of company stock worth $1,299,736. Insiders own 0.56% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of Sysco from $77.00 to $84.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. Morgan Stanley lifted their target price on Sysco from $84.00 to $88.00 and gave the company an "equal weight" rating in a research report on Thursday, July 16th. UBS Group increased their price target on Sysco from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Guggenheim reiterated a "buy" rating and issued a $90.00 target price on shares of Sysco in a research note on Wednesday, September 16th. Finally, Melius Research lowered shares of Sysco from a "hold" rating to a "sell" rating in a research report on Tuesday, July 7th. Nine research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Sysco currently has an average rating of "Moderate Buy" and a consensus target price of $89.50.

Sysco Price Performance

Shares of NYSE:SYY opened at $77.10 on Thursday. The company's 50-day moving average is $82.27 and its 200 day moving average is $79.43. The company has a debt-to-equity ratio of 4.62, a quick ratio of 0.77 and a current ratio of 1.28. The company has a market capitalization of $36.97 billion, a P/E ratio of 21.06, a price-to-earnings-growth ratio of 2.76 and a beta of 0.63. 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 released its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, beating analysts' consensus estimates of $1.51 by $0.02. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The firm had revenue of $22.12 billion for the quarter, compared to analysts' expectations of $21.95 billion. During the same period in the previous year, the company earned $1.48 earnings per share. The company's quarterly revenue 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. On average, equities research analysts forecast that Sysco Corporation will post 5.07 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, October 2nd. Sysco's dividend payout ratio (DPR) is currently 60.11%.

Sysco Company Profile

Sysco Corporation NYSE: SYY is a global foodservice distributor that supplies restaurants, health care and educational institutions, hospitality businesses, government facilities, and other customers. Its product portfolio includes fresh and frozen foods, meat and seafood, dairy products, produce, pantry staples, beverages, and specialty items, along with nonfood products such as kitchen equipment, cleaning supplies, and disposable serving products.

In addition to distribution, Sysco provides services designed to support foodservice operators, including menu planning, culinary consulting, merchandising assistance, supply-chain solutions, and business-management resources.

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