Raymond James Financial Inc. Has $81.69 Million Stock Position in Sysco Corporation $SYY

Key Points

• Raymond James Financial Inc. reduced its stake in Sysco Corporation by 14.3%, now owning 1,088,615 shares valued at approximately $81.69 million.
• Several hedge funds have recently engaged with Sysco, leading to a increase in institutional ownership, which now stands at 83.41%.
• Analysts have set new price targets for Sysco, with estimates generally ranging from $85 to $90, indicating a consensus rating of "Moderate Buy."

Raymond James Financial Inc. decreased its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 14.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,088,615 shares of the company's stock after selling 181,042 shares during the period. Raymond James Financial Inc. owned 0.22% of Sysco worth $81,690,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of SYY. Rialto Wealth Management LLC lifted its position in Sysco by 188.7% during the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock worth $25,000 after acquiring an additional 217 shares during the last quarter. Parvin Asset Management LLC bought a new stake in shares of Sysco in the fourth quarter valued at about $29,000. Golden State Wealth Management LLC boosted its position in shares of Sysco by 48.4% in the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after acquiring an additional 140 shares during the period. N.E.W. Advisory Services LLC bought a new stake in shares of Sysco in the first quarter valued at about $33,000. Finally, Capital A Wealth Management LLC bought a new stake in shares of Sysco in the fourth quarter valued at about $34,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SYY shares. Guggenheim boosted their target price on shares of Sysco from $85.00 to $87.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. UBS Group set a $90.00 price target on Sysco in a research report on Wednesday, July 30th. JPMorgan Chase & Co. increased their price target on Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. Wells Fargo & Company set a $88.00 price target on Sysco and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Finally, Sanford C. Bernstein set a $87.00 price target on Sysco and gave the stock an "overweight" rating in a research report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $85.69.

Sysco Stock Performance

Shares of SYY stock opened at $79.3680 on Wednesday. The business's 50-day moving average price is $77.81 and its 200-day moving average price is $74.23. Sysco Corporation has a 12 month low of $67.12 and a 12 month high of $82.64. The firm has a market capitalization of $38.47 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 2.45 and a beta of 0.83. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75.

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

Insider Buying and Selling at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 6,286 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $81.00, for a total transaction of $509,166.00. Following the completion of the sale, the executive vice president owned 34,404 shares of the company's stock, valued at approximately $2,786,724. This represents a 15.45% decrease in their position. 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 stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the sale, the executive vice president directly owned 56,304 shares of the company's stock, valued at $4,504,320. This represents a 41.54% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 84,026 shares of company stock worth $6,766,059. 0.54% of the stock is currently owned by insiders.

About Sysco

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.

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