Citizens Financial Group Inc. RI Takes $4.59 Million Position in Sysco Corporation $SYY

Key Points

• Citizens Financial Group acquired 54,899 Sysco shares worth approximately $4.59 million during the second quarter. Institutional investors and hedge funds collectively own 83.41% of Sysco.
• Sysco’s latest quarterly results exceeded expectations, with adjusted EPS of $1.53 versus the $1.51 consensus and revenue of $22.12 billion, up 4.7% year over year.
• Shares recently traded at $81.79, while analysts maintained a consensus “Hold” rating and an average price target of $89.50; targets ranged from $84 to $95.

Citizens Financial Group Inc. RI bought a new stake in shares of Sysco Corporation (NYSE:SYY - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 54,899 shares of the company's stock, valued at approximately $4,588,000.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Sysco by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company's stock valued at $4,591,281,000 after purchasing an additional 814,270 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Sysco in the 2nd quarter worth approximately $3,596,356,000. State Street Corp lifted its stake in Sysco by 0.9% during the third quarter. State Street Corp now owns 26,669,576 shares of the company's stock valued at $2,195,973,000 after purchasing an additional 246,542 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Sysco by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company's stock worth $934,391,000 after buying an additional 131,659 shares in the last quarter. Finally, Norges Bank bought a new stake in Sysco during the fourth quarter worth approximately $542,780,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Trading Down 1.4%

Sysco stock opened at $81.79 on Tuesday. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85. 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 firm has a market capitalization of $39.16 billion, a price-to-earnings ratio of 22.35, a P/E/G ratio of 2.84 and a beta of 0.64. The company has a 50 day moving average price of $82.31 and a 200 day moving average price of $80.64.

Sysco (NYSE:SYY - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.02. The company 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%. The company's revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business earned $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. Research analysts forecast that Sysco Corporation will post 5.1 EPS for the current year.

Analysts Set New Price Targets

SYY has been the topic of several research reports. Barclays dropped their price target on Sysco from $92.00 to $86.00 and set an "overweight" rating on the stock in a report on Wednesday, April 29th. Morgan Stanley lifted their target price on Sysco from $84.00 to $88.00 and gave the stock an "equal weight" rating in a report on Thursday, July 16th. Sanford C. Bernstein cut their target price on Sysco from $90.00 to $85.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft lowered Sysco from a "buy" rating to a "hold" rating and set a $84.00 price target for the company. in a research report on Tuesday, April 28th. Finally, UBS Group lifted 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. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $89.50.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 6,285 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $83.94, for a total transaction of $527,562.90. Following the completion of the sale, the executive vice president directly owned 39,970 shares in the company, valued at approximately $3,355,081.80. This trade represents a 13.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 bought 13,304 shares of the stock in a transaction on Tuesday, May 26th. The shares were acquired at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the purchase, the director owned 40,200 shares in the company, valued at approximately $3,021,834. This represents a 49.46% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.56% of the stock is currently owned by insiders.

About Sysco

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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