Danske Bank A S Acquires New Holdings in Sysco Corporation $SYY

Danske Bank A S bought a new stake in Sysco Corporation (NYSE:SYY) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 292,083 shares of the company’s stock, valued at approximately $24,412,000.

Several other hedge funds also recently bought and sold shares of the company. Lloyd Advisory Services LLC. bought a new position in shares of Sysco during the fourth quarter worth $25,000. Motiv8 Investments LLC bought a new stake in shares of Sysco in the 4th quarter valued at $25,000. N.E.W. Advisory Services LLC bought a new stake in shares of Sysco in the 2nd quarter valued at $29,000. Sunbelt Securities Inc. raised its stake in Sysco by 87.6% during the 1st quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock worth $26,000 after buying an additional 170 shares during the period. Finally, Bard Associates Inc. acquired a new stake in Sysco during the 4th quarter worth $27,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director John M. Hinshaw purchased 13,304 shares of Sysco stock in a transaction on Tuesday, May 26th. The stock was purchased at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the transaction, the director directly owned 40,200 shares in the company, valued at $3,021,834. The trade was a 49.46% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Ronald L. Phillips sold 6,285 shares of Sysco 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 owned 39,970 shares in the company, valued at $3,355,081.80. This trade represents a 13.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Corporate insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Sysco in a research note on Friday, June 26th. Deutsche Bank Aktiengesellschaft lowered Sysco from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a research report on Tuesday, April 28th. Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Sanford C. Bernstein decreased their price objective on Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a research report on Wednesday, April 29th. Finally, Melius Research cut Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $89.50.

Sysco Trading Up 0.8%

SYY opened at $82.58 on Thursday. The stock has a market capitalization of $39.53 billion, a P/E ratio of 22.56, a P/E/G ratio of 2.81 and a beta of 0.64. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85. The firm’s fifty day simple moving average is $82.48 and its 200 day simple moving average is $80.62.

Sysco (NYSE:SYY) last issued its quarterly 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. The company had revenue of $22.12 billion for the quarter, compared to analyst estimates of $21.95 billion. Sysco had a return on equity of 95.05% and a net margin of 2.08%.The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.48 earnings per share. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. As a group, research analysts anticipate that Sysco Corporation will post 5.1 EPS for the current fiscal year.

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.