Raiffeisen Bank International AG Lowers Stock Holdings in Sysco Corporation $SYY

Key Points

• Raiffeisen Bank International AG slashed its Sysco stake by 95.9% in the second quarter, while other institutional investors increased their positions. Institutions and hedge funds collectively own 83.41% of Sysco shares.
• Sysco exceeded quarterly expectations, reporting $1.53 in adjusted EPS and $22.12 billion in revenue, with revenue up 4.7% year over year. Analysts have a “Moderate Buy” consensus rating and an average price target of $89.50.
• Sysco declared a quarterly dividend of $0.55 per share, equivalent to $2.20 annually and a 2.7% yield. The company’s shares opened at $80.10, compared with a 52-week range of $68.19 to $91.85.

Raiffeisen Bank International AG cut its stake in Sysco Corporation (NYSE:SYY - Free Report) by 95.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,880 shares of the company's stock after selling 253,095 shares during the period. Raiffeisen Bank International AG's holdings in Sysco were worth $907,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Sysco

In other news, EVP Ronald Phillips sold 506 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $84.09, for a total value of $42,549.54. Following the completion of the transaction, the executive vice president directly owned 36,313 shares of the company's stock, valued at approximately $3,053,560.17. This represents a 1.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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. In the last 90 days, insiders sold 14,508 shares of company stock valued at $1,215,250. Corporate insiders own 0.56% of the company's stock.

Sysco Price Performance

Shares of NYSE:SYY opened at $80.10 on Friday. Sysco Corporation has a twelve month low of $68.19 and a twelve month high of $91.85. The business has a 50 day moving average price of $83.13 and a 200 day moving average price of $80.33. The company has a market cap of $38.38 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 2.73 and a beta of 0.63. 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 (NYSE:SYY - Get Free Report) last announced its quarterly earnings data 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 net margin of 2.08% and a return on equity of 95.05%. The business had revenue of $22.12 billion during the quarter, compared to analyst estimates of $21.95 billion. During the same quarter in the prior year, the business earned $1.48 earnings per share. The firm'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. Research analysts predict that Sysco Corporation will post 5.12 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 2nd will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 2.7%. Sysco's payout ratio is presently 60.11%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Morgan Stanley raised their price objective on shares of Sysco from $84.00 to $88.00 and gave the company an "equal weight" rating in a research report on Thursday, July 16th. Melius Research downgraded Sysco from a "hold" rating to a "sell" rating in a research note on Tuesday, July 7th. Weiss Ratings raised Sysco from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, August 19th. Piper Sandler raised their price target on Sysco from $77.00 to $84.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. Finally, Citigroup boosted their price target on Sysco from $82.00 to $86.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Nine equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $89.50.

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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