California Public Employees Retirement System Cuts Position in Sysco Corporation $SYY

Key Points

• CalPERS reduced its Sysco stake by 8.2% in the first quarter, selling 78,416 shares and leaving it with 874,330 shares worth about $62.4 million.
• Analysts remain mixed on SYY: the stock has a consensus rating of “Hold” with an average price target of $88, even as several firms recently adjusted their targets and ratings.
• Sysco’s latest earnings slightly missed expectations, with Q1 EPS of $0.94 versus $0.95 expected and revenue of $20.52 billion versus $20.56 billion expected, though revenue still rose 4.7% year over year.

California Public Employees Retirement System trimmed its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 8.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 874,330 shares of the company's stock after selling 78,416 shares during the period. California Public Employees Retirement System owned approximately 0.18% of Sysco worth $62,366,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Intech Investment Management LLC grew its stake in shares of Sysco by 53.1% in the first quarter. Intech Investment Management LLC now owns 22,310 shares of the company's stock worth $1,674,000 after acquiring an additional 7,742 shares during the last quarter. Schnieders Capital Management LLC. raised its position in shares of Sysco by 24.1% in the 2nd quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company's stock worth $781,000 after purchasing an additional 2,000 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Sysco by 62.4% in the 2nd quarter. NewEdge Advisors LLC now owns 35,447 shares of the company's stock worth $2,685,000 after purchasing an additional 13,616 shares during the last quarter. Sei Investments Co. boosted its stake in Sysco by 14.2% in the 2nd quarter. Sei Investments Co. now owns 344,504 shares of the company's stock worth $26,092,000 after purchasing an additional 42,903 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted 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 purchasing an additional 1,710 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SYY has been the subject of a number of analyst reports. Citigroup raised their price objective on shares of Sysco from $78.00 to $80.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. UBS Group dropped their target price on shares of Sysco from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Thursday, April 2nd. Guggenheim cut their price target on shares of Sysco from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Thursday, April 2nd. Barclays reduced their price target on shares of Sysco from $92.00 to $86.00 and set an "overweight" rating for the company in a research report on Wednesday, April 29th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Sysco in a report on Friday, June 26th. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $88.00.

Sysco Price Performance

Shares of NYSE:SYY opened at $81.62 on Monday. The company has a debt-to-equity ratio of 5.58, a quick ratio of 0.80 and a current ratio of 1.33. The firm has a market cap of $39.03 billion, a price-to-earnings ratio of 22.61, a price-to-earnings-growth ratio of 3.12 and a beta of 0.64. The business has a 50-day simple moving average of $78.63 and a two-hundred day simple moving average of $79.49. 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 announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.95 by ($0.01). Sysco had a net margin of 2.08% and a return on equity of 103.57%. The company had revenue of $20.52 billion for the quarter, compared to analysts' expectations of $20.56 billion. During the same period in the previous year, the business earned $0.96 EPS. The business's revenue was up 4.7% compared to the same quarter last year. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. On average, analysts expect that Sysco Corporation will post 4.59 earnings per share for the current year.

Insider Transactions at Sysco

In related news, Director John M. Hinshaw bought 13,304 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was acquired at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the transaction, the director owned 40,200 shares in the company, valued at approximately $3,021,834. This trade represents a 49.46% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.56% of the company's stock.

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.

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