Professional Advisory Services Inc. Acquires 47,783 Shares of Sysco Corporation $SYY

Key Points

• Professional Advisory Services increased its Sysco stake by 19% in the second quarter, acquiring 47,783 shares for a total holding of 299,057 shares valued at approximately $25 million. Institutional investors collectively own 83.41% of Sysco.
• Analysts remain broadly neutral, with Sysco carrying an average “Hold” rating and an average price target of $89.50. Recent targets ranged from $84 to $95, including a UBS upgrade to “Buy” and downgrades from Melius Research and Deutsche Bank.
• Sysco exceeded quarterly expectations, reporting $1.53 in earnings per share and $22.12 billion in revenue, while revenue rose 4.7% year over year. Shares opened at $84.10, below the 52-week high of $91.85.

Professional Advisory Services Inc. increased its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 19.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 299,057 shares of the company's stock after buying an additional 47,783 shares during the period. Sysco comprises approximately 3.0% of Professional Advisory Services Inc.'s investment portfolio, making the stock its 17th biggest holding. Professional Advisory Services Inc. owned about 0.06% of Sysco worth $24,995,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Czech National Bank increased its holdings in shares of Sysco by 4.4% in the 2nd quarter. Czech National Bank now owns 136,109 shares of the company's stock valued at $11,376,000 after acquiring an additional 5,674 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Sysco by 43.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 20,300 shares of the company's stock worth $1,697,000 after purchasing an additional 6,131 shares during the last quarter. Lincoln Capital LLC bought a new stake in Sysco during the second quarter valued at about $218,000. M.E. Allison & CO. Inc. grew its stake in Sysco by 8.6% in the second quarter. M.E. Allison & CO. Inc. now owns 8,964 shares of the company's stock valued at $749,000 after purchasing an additional 712 shares during the last quarter. Finally, DMKC Advisory Services LLC raised its holdings in Sysco by 15.9% in the second quarter. DMKC Advisory Services LLC now owns 50,338 shares of the company's stock worth $4,207,000 after purchasing an additional 6,887 shares in the last quarter. Institutional investors own 83.41% of the company's stock.

Analysts Set New Price Targets

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 stock a "neutral" rating in a research report on Wednesday. UBS Group upped their price target on Sysco from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday. Weiss Ratings reissued a "hold (c+)" rating on shares of Sysco in a research report on Friday, June 26th. Melius Research lowered Sysco from a "hold" rating to a "sell" rating in a research report on Tuesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft downgraded Sysco from a "buy" rating to a "hold" rating and set a $84.00 price target for the company. in a report on Tuesday, April 28th. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Sysco presently has an average rating of "Hold" and an average target price of $89.50.

Sysco Trading Down 0.3%

Shares of NYSE:SYY opened at $84.10 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.28 and a debt-to-equity ratio of 4.62. Sysco Corporation has a 52-week low of $68.19 and a 52-week high of $91.85. The stock has a market cap of $40.26 billion, a price-to-earnings ratio of 22.98, a PEG ratio of 2.89 and a beta of 0.64. The business has a 50-day moving average price of $81.30 and a 200-day moving average price of $80.39.

Sysco (NYSE:SYY - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, beating analysts' consensus estimates of $1.51 by $0.02. Sysco had a return on equity of 95.05% and a net margin of 2.08%.The firm had revenue of $22.12 billion for the quarter, compared to analyst estimates of $21.95 billion. During the same quarter in the prior year, the firm earned $1.48 earnings per share. Sysco's revenue for the quarter 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. Equities analysts predict that Sysco Corporation will post 5.1 EPS for the current year.

Insider Activity at Sysco

In other Sysco news, Director John M. Hinshaw acquired 13,304 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were purchased at an average price of $75.17 per share, for a total transaction of $1,000,061.68. Following the completion of the purchase, the director directly owned 40,200 shares of the company's stock, valued at $3,021,834. The trade was a 49.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.56% of the stock is owned by company 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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