Sysco Corporation $SYY Shares Sold by Diversified Management Inc.

Key Points

• Diversified Management Inc. cut its Sysco stake by 83.4% in the second quarter, selling 25,317 shares and retaining 5,052 shares valued at approximately $422,000.
• Institutional investors and hedge funds own 83.41% of Sysco, while analysts maintain a consensus “Hold” rating with an average price target of $89.50.
• Sysco reported quarterly earnings of $1.53 per share and revenue of $22.12 billion, exceeding estimates; revenue increased 4.7% year over year.

Diversified Management Inc. trimmed its stake in Sysco Corporation (NYSE:SYY - Free Report) by 83.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,052 shares of the company's stock after selling 25,317 shares during the period. Diversified Management Inc.'s holdings in Sysco were worth $422,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Sysco during the fourth quarter worth about $542,780,000. Wellington Management Group LLP lifted its holdings in shares of Sysco by 3,977.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company's stock valued at $387,935,000 after purchasing an additional 4,595,819 shares during the last quarter. First Nebraska Trust Co purchased a new stake in shares of Sysco in the 1st quarter valued at about $156,697,000. Goldman Sachs Group Inc. boosted its position in shares of Sysco by 45.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,651,682 shares of the company's stock valued at $416,472,000 after purchasing an additional 1,754,306 shares during the period. Finally, Royal Bank of Canada boosted its position in shares of Sysco by 128.7% in the 1st quarter. Royal Bank of Canada now owns 2,357,585 shares of the company's stock valued at $168,166,000 after purchasing an additional 1,326,600 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on SYY. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Sysco in a research report on Friday, June 26th. Melius Research downgraded Sysco from a "hold" rating to a "sell" rating in a report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft lowered shares of Sysco from a "buy" rating to a "hold" rating and set a $84.00 target price on the stock. in a research report on Tuesday, April 28th. Sanford C. Bernstein cut their target price 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. Finally, UBS Group upped their price target on shares of Sysco from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $89.50.

Insider Buying and Selling

In other news, Director John M. Hinshaw bought 13,304 shares of Sysco stock in a transaction dated Tuesday, May 26th. The stock was 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 of the company's stock, valued at approximately $3,021,834. The trade was a 49.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.56% of the company's stock.

Sysco Trading Up 0.5%

NYSE:SYY opened at $84.28 on Wednesday. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62. The stock's 50 day simple moving average is $81.70 and its 200-day simple moving average is $80.50. The firm has a market cap of $40.35 billion, a P/E ratio of 23.03, a PEG ratio of 2.87 and a beta of 0.64.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $21.95 billion. During the same period last year, the company earned $1.48 earnings per share. The company'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 anticipate that Sysco Corporation will post 5.1 EPS for the current year.

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.

Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sysco Corporation (NYSE:SYY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source