Sysco Corporation $SYY Shares Sold by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC reduced its stake in Sysco Corporation by 20.9% during the 1st quarter, holding 33,733 shares valued at $2.53 million after selling 8,905 shares.
• Several investors, including Invesco Ltd. and Boston Partners, have increased their positions in Sysco, indicating strong institutional interest with 83.41% of the shares owned by institutional investors.
• Sysco recently reported $1.48 EPS for the quarter, exceeding expectations and showing a year-over-year revenue growth of 2.8%.

Rafferty Asset Management LLC trimmed its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 20.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,733 shares of the company's stock after selling 8,905 shares during the period. Rafferty Asset Management LLC's holdings in Sysco were worth $2,531,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Boston Partners increased its holdings in Sysco by 24.8% in the 1st quarter. Boston Partners now owns 15,199,828 shares of the company's stock worth $1,139,798,000 after acquiring an additional 3,015,714 shares in the last quarter. Canoe Financial LP boosted its position in shares of Sysco by 29,610.4% during the 1st quarter. Canoe Financial LP now owns 1,431,149 shares of the company's stock valued at $107,393,000 after acquiring an additional 1,426,332 shares during the last quarter. Nuveen LLC acquired a new position in Sysco in the 1st quarter valued at about $85,341,000. Burgundy Asset Management Ltd. increased its stake in Sysco by 251.6% during the fourth quarter. Burgundy Asset Management Ltd. now owns 1,452,073 shares of the company's stock worth $111,026,000 after acquiring an additional 1,039,088 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Sysco by 9,792.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 980,616 shares of the company's stock valued at $74,978,000 after buying an additional 970,703 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company's stock.

Sysco Stock Up 1.0%

Shares of NYSE:SYY traded up $0.77 during trading on Thursday, hitting $81.81. 1,357,304 shares of the company were exchanged, compared to its average volume of 3,282,767. The firm's 50 day moving average price is $78.99 and its 200-day moving average price is $74.89. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $82.64. The stock has a market capitalization of $39.66 billion, a P/E ratio of 21.93, a PEG ratio of 2.49 and a beta of 0.80.

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

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be given a dividend of $0.54 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.6%. Sysco's dividend payout ratio (DPR) is 57.91%.

Insiders Place Their Bets

In other Sysco news, EVP Ronald L. Phillips sold 37,606 shares of Sysco stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total value of $3,046,086.00. Following the transaction, the executive vice president directly owned 30,235 shares in the company, valued at approximately $2,449,035. The trade was a 55.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the business's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total value of $3,200,000.00. Following the completion of the transaction, the executive vice president owned 56,304 shares in the company, valued at $4,504,320. This trade represents a 41.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,026 shares of company stock worth $6,766,059 over the last ninety days. Corporate insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SYY. JPMorgan Chase & Co. upped their price target on Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. Truist Financial raised their target price on Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Bank of America lifted their target price on Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a research report on Friday, July 18th. UBS Group set a $90.00 price target on shares of Sysco in a research report on Wednesday, July 30th. Finally, Morgan Stanley raised their price objective on shares of Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Sysco has an average rating of "Moderate Buy" and an average price target of $85.69.

Sysco Profile

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.