Rayburn West Financial Services LLC Makes New $9.58 Million Investment in Sysco Corporation $SYY

Key Points

• Rayburn West Financial Services purchased 114,580 Sysco shares worth approximately $9.58 million, making Sysco its third-largest holding at about 5.3% of the portfolio.
• Institutional ownership remains high at 83.41%, with several major investors increasing or initiating positions, including Norges Bank’s approximately $542.8 million stake.
• Sysco exceeded quarterly earnings and revenue expectations, reporting $1.53 EPS and $22.12 billion in revenue, while analysts maintain a consensus “Hold” rating with an average price target of $89.50.

Rayburn West Financial Services LLC purchased a new position in shares of Sysco Corporation (NYSE:SYY - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 114,580 shares of the company's stock, valued at approximately $9,577,000. Sysco makes up about 5.3% of Rayburn West Financial Services LLC's investment portfolio, making the stock its 3rd biggest holding.

A number of other large investors have also made changes to their positions in SYY. Teacher Retirement System of Texas lifted its position in Sysco by 8.0% in the 4th quarter. Teacher Retirement System of Texas now owns 370,571 shares of the company's stock valued at $27,307,000 after acquiring an additional 27,510 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Sysco by 9.5% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 412,423 shares of the company's stock worth $30,445,000 after purchasing an additional 35,647 shares during the period. Nicholas Company Inc. bought a new position in Sysco during the 4th quarter worth about $2,278,000. Norges Bank acquired a new stake in shares of Sysco in the 4th quarter valued at about $542,780,000. Finally, Banque Cantonale Vaudoise raised its stake in shares of Sysco by 301.9% in the 1st quarter. Banque Cantonale Vaudoise now owns 16,828 shares of the company's stock valued at $1,200,000 after purchasing an additional 12,641 shares during the period. Institutional investors own 83.41% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on SYY. Piper Sandler upped their price objective on Sysco from $77.00 to $84.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Weiss Ratings reissued a "hold (c+)" rating on shares of Sysco in a research report on Friday, June 26th. Citigroup boosted their target price on Sysco from $82.00 to $86.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. UBS Group raised their price target on shares of Sysco from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Finally, Sanford C. Bernstein lowered their price objective on shares of Sysco from $90.00 to $85.00 and set a "market perform" rating on the stock in a report on Wednesday, April 29th. Eight 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. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $89.50.

Sysco Trading Up 0.3%

Sysco stock opened at $82.07 on Wednesday. The company has a market cap of $39.29 billion, a price-to-earnings ratio of 22.42, a P/E/G ratio of 2.84 and a beta of 0.64. The firm has a 50-day moving average of $82.40 and a 200-day moving average of $80.63. The company has a debt-to-equity ratio of 4.62, a current ratio of 1.28 and a quick ratio of 0.77. Sysco Corporation has a one year low of $68.19 and a one year high of $91.85.

Sysco (NYSE:SYY - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share (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 business had revenue of $22.12 billion for the quarter, compared to the consensus estimate of $21.95 billion. During the same quarter in the previous year, the business earned $1.48 earnings per share. Sysco's quarterly revenue 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. On average, equities analysts expect that Sysco Corporation will post 5.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Sysco news, EVP Ronald L. Phillips sold 6,285 shares of the business's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $83.94, for a total transaction of $527,562.90. Following the transaction, the executive vice president owned 39,970 shares of the company's stock, valued at $3,355,081.80. The trade was a 13.59% decrease in their position. The transaction was disclosed in a document filed 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 dated Tuesday, May 26th. The shares were bought at an average price 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. Additional details regarding this purchase are available in the official SEC disclosure. 0.56% of the stock is owned by company insiders.

Sysco 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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