Sysco Corporation $SYY Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its position in Sysco Corporation (NYSE:SYY) by 25.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 203,050 shares of the company’s stock after selling 70,034 shares during the quarter. Handelsbanken Fonder AB’s holdings in Sysco were worth $16,971,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Montag A & Associates Inc. raised its position in Sysco by 1.4% during the 4th quarter. Montag A & Associates Inc. now owns 8,743 shares of the company’s stock worth $644,000 after buying an additional 123 shares during the last quarter. United Community Bank boosted its holdings in shares of Sysco by 11.4% in the 4th quarter. United Community Bank now owns 1,224 shares of the company’s stock valued at $90,000 after acquiring an additional 125 shares during the last quarter. First Citizens Bank & Trust Co. increased its stake in shares of Sysco by 1.2% in the fourth quarter. First Citizens Bank & Trust Co. now owns 11,224 shares of the company’s stock worth $827,000 after acquiring an additional 138 shares during the period. Octavia Wealth Advisors LLC increased its stake in shares of Sysco by 4.6% in the fourth quarter. Octavia Wealth Advisors LLC now owns 3,231 shares of the company’s stock worth $237,000 after acquiring an additional 141 shares during the period. Finally, Diversify Wealth Management LLC raised its holdings in shares of Sysco by 1.6% during the fourth quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company’s stock worth $698,000 after purchasing an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on SYY shares. Wall Street Zen lowered shares of Sysco from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Barclays dropped their price target on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Sanford C. Bernstein cut their price objective on Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a research note on Wednesday, April 29th. Citigroup increased their target price on shares of Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Finally, UBS Group increased their price target on Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned 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 price target of $89.50.

Sysco Stock Up 0.6%

Shares of NYSE SYY opened at $84.76 on Thursday. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62. The firm has a market cap of $40.58 billion, a price-to-earnings ratio of 23.16, a PEG ratio of 2.89 and a beta of 0.64. Sysco Corporation has a 52-week low of $68.19 and a 52-week high of $91.85. The business’s 50 day moving average is $81.89 and its two-hundred day moving average is $80.56.

Sysco (NYSE:SYY) last announced its earnings results 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 return on equity of 95.05% and a net margin of 2.08%.The company had revenue of $22.12 billion during the quarter, compared to analysts’ expectations of $21.95 billion. During the same period last year, the business posted $1.48 EPS. Sysco’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 5.1 EPS for the current year.

Insiders Place Their Bets

In related news, Director John M. Hinshaw bought 13,304 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the completion of the acquisition, the director owned 40,200 shares in the company, valued at approximately $3,021,834. This trade represents a 49.46% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ronald L. Phillips sold 6,285 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $83.94, for a total transaction of $527,562.90. Following the completion of the sale, the executive vice president directly owned 39,970 shares in the company, valued at approximately $3,355,081.80. This trade represents a 13.59% decrease in their position. The SEC filing for this sale provides additional information. 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. Company insiders own 0.56% of the company’s stock.

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.