Cambiar Investors LLC Has $35.86 Million Holdings in Sysco Corporation $SYY

Key Points

• Cambiar Investors LLC reduced its holdings in Sysco Corporation by 32.6% during the first quarter, now owning 477,809 shares worth approximately $35.9 million.
• Other institutional investors, such as CacheTech Inc. and Aberdeen Group plc, increased their stakes in Sysco, indicating a mixed sentiment among large investors.
• Analysts have recently downgraded Sysco from a "buy" to a "hold" rating, while others set price targets ranging from $78.00 to $88.00, reflecting a consensus target price of $85.69.

Cambiar Investors LLC cut its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 32.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 477,809 shares of the company's stock after selling 231,622 shares during the quarter. Cambiar Investors LLC owned approximately 0.10% of Sysco worth $35,855,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Rialto Wealth Management LLC boosted its position in shares of Sysco by 188.7% in the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock worth $25,000 after acquiring an additional 217 shares during the last quarter. Parvin Asset Management LLC acquired a new stake in shares of Sysco in the fourth quarter worth approximately $29,000. Golden State Wealth Management LLC lifted its position in Sysco by 48.4% during the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after buying an additional 140 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new position in Sysco during the first quarter valued at approximately $33,000. Finally, Capital A Wealth Management LLC acquired a new position in Sysco during the fourth quarter valued at approximately $34,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Performance

Shares of SYY traded down $1.2230 during midday trading on Thursday, hitting $79.7570. 1,846,896 shares of the stock traded hands, compared to its average volume of 3,324,241. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $82.64. The firm has a market capitalization of $38.66 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 2.46 and a beta of 0.83. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. The business's 50 day moving average price is $77.93 and its two-hundred day moving average price is $74.27.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.09. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The company had revenue of $21.14 billion during the quarter, compared to the consensus estimate of $21.01 billion. During the same quarter in the previous year, the company posted $1.39 earnings per share. The company's revenue for the quarter was up 2.8% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Equities research analysts predict that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.7%. Sysco's payout ratio is currently 57.91%.

Insider Activity

In related news, EVP Ronald L. Phillips sold 6,286 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $81.00, for a total value of $509,166.00. Following the completion of the sale, the executive vice president owned 34,404 shares of the company's stock, valued at $2,786,724. This represents a 15.45% 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. Also, EVP Greg D. Bertrand sold 40,000 shares of the company's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the completion of the sale, the executive vice president directly owned 56,304 shares of the company's stock, valued at $4,504,320. The trade was a 41.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 84,026 shares of company stock valued at $6,766,059 in the last ninety days. Corporate insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on SYY shares. Guggenheim lifted their price target on shares of Sysco from $85.00 to $87.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. BMO Capital Markets reduced their price target on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Wells Fargo & Company set a $88.00 price target on shares of Sysco and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Truist Financial lifted their price target on shares of Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Finally, UBS Group set a $90.00 price objective on shares of Sysco in a research note on Wednesday, July 30th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $85.69.

About Sysco

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.