Deutsche Bank AG Takes Position in Sysco Corporation $SYY

Key Points

• Deutsche Bank acquired 1.7 million Sysco shares during the second quarter, valued at approximately $142 million, giving it a 0.35% stake. Institutional investors collectively own 83.41% of Sysco.
• Analysts maintain a generally neutral view, with Sysco receiving an average “Hold” rating and an average price target of $89.50. Recent target prices range from $84 to $88 among several major brokerages.
• Sysco exceeded quarterly expectations with earnings of $1.53 per share and revenue of $22.12 billion, while revenue increased 4.7% year over year. Shares opened at $82.58, near their 50-day moving average.

Deutsche Bank AG acquired a new stake in Sysco Corporation (NYSE:SYY - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,699,405 shares of the company's stock, valued at approximately $142,036,000. Deutsche Bank AG owned 0.35% of Sysco at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SYY. Intech Investment Management LLC boosted its position in shares of Sysco by 53.1% in the 1st quarter. Intech Investment Management LLC now owns 22,310 shares of the company's stock worth $1,674,000 after purchasing an additional 7,742 shares during the last quarter. Schnieders Capital Management LLC. increased its holdings in Sysco by 24.1% in the second quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company's stock valued at $781,000 after purchasing an additional 2,000 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Sysco by 62.4% in the second quarter. NewEdge Advisors LLC now owns 35,447 shares of the company's stock valued at $2,685,000 after buying an additional 13,616 shares during the period. Sei Investments Co. lifted its stake in Sysco by 14.2% in the second quarter. Sei Investments Co. now owns 344,504 shares of the company's stock valued at $26,092,000 after buying an additional 42,903 shares during the period. Finally, Treasurer of the State of North Carolina boosted its holdings in Sysco by 0.8% during the second quarter. Treasurer of the State of North Carolina now owns 226,648 shares of the company's stock worth $17,166,000 after buying an additional 1,710 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SYY. Piper Sandler boosted their price target on shares of Sysco from $77.00 to $84.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. Barclays dropped their price objective on Sysco from $92.00 to $86.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 29th. Citigroup lifted their target price on Sysco from $82.00 to $86.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Morgan Stanley increased their price target on Sysco from $84.00 to $88.00 and gave the stock an "equal weight" rating in a report on Thursday, July 16th. Finally, Sanford C. Bernstein dropped their price target 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. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $89.50.

Insider Buying and Selling

In related news, EVP Ronald L. Phillips sold 367 shares of the company's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $83.39, for a total transaction of $30,604.13. Following the completion of the sale, the executive vice president directly owned 38,650 shares in the company, valued at $3,223,023.50. This represents a 0.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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. Also, Director John M. Hinshaw acquired 13,304 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the purchase, the director owned 40,200 shares in the company, valued at $3,021,834. The trade was a 49.46% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.56% of the stock is currently owned by insiders.

Sysco Price Performance

Shares of NYSE SYY opened at $82.58 on Thursday. The business's 50 day moving average price is $82.48 and its two-hundred day moving average price is $80.62. The company has a market cap of $39.53 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 2.81 and a beta of 0.64. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62. Sysco Corporation has a twelve month low of $68.19 and a twelve month 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 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 analyst estimates 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 prior year, the firm earned $1.48 earnings per share. 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, analysts predict that Sysco Corporation will post 5.1 EPS for the current year.

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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