Primecap Management Co. CA Cuts Stock Holdings in Sysco Corporation $SYY

Primecap Management Co. CA reduced its holdings in shares of Sysco Corporation (NYSE:SYY) by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,705,599 shares of the company’s stock after selling 71,520 shares during the quarter. Primecap Management Co. CA owned 0.77% of Sysco worth $305,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in SYY. Norges Bank purchased a new stake in shares of Sysco during the second quarter worth about $493,686,000. Mondrian Investment Partners LTD purchased a new position in Sysco during the 3rd quarter valued at approximately $142,237,000. Vanguard Group Inc. increased its stake in Sysco by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 62,691,177 shares of the company’s stock worth $4,748,230,000 after acquiring an additional 1,226,381 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Sysco by 207.6% during the 2nd quarter. Marshall Wace LLP now owns 1,164,656 shares of the company’s stock worth $88,211,000 after acquiring an additional 785,995 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Sysco by 143.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,215,260 shares of the company’s stock worth $92,044,000 after acquiring an additional 715,663 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SYY. Citigroup increased their price target on Sysco from $81.00 to $88.00 and gave the company a “neutral” rating in a report on Wednesday, January 28th. Guggenheim increased their price target on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Sanford C. Bernstein set a $90.00 price objective on shares of Sysco and gave the company a “market perform” rating in a report on Wednesday, January 28th. UBS Group boosted their price objective on shares of Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Finally, Piper Sandler raised their target price on shares of Sysco from $80.00 to $83.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $90.31.

Insider Transactions at Sysco

In other news, Director Sheila Talton sold 2,801 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $82.99, for a total transaction of $232,454.99. Following the completion of the sale, the director owned 12,868 shares in the company, valued at $1,067,915.32. This trade represents a 17.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ronald L. Phillips sold 5,601 shares of the firm’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $81.00, for a total value of $453,681.00. Following the sale, the executive vice president directly owned 35,965 shares of the company’s stock, valued at approximately $2,913,165. This trade represents a 13.47% decrease in their position. The SEC filing for this sale provides additional information. 0.56% of the stock is owned by insiders.

Sysco Price Performance

NYSE:SYY opened at $89.16 on Thursday. The firm has a market cap of $42.70 billion, a price-to-earnings ratio of 23.97, a price-to-earnings-growth ratio of 2.79 and a beta of 0.61. The company has a 50 day moving average price of $80.42 and a 200-day moving average price of $78.96. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.30 and a quick ratio of 0.75. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $91.85.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, January 27th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. The business had revenue of $20.76 billion during the quarter, compared to analysts’ expectations of $20.80 billion. Sysco had a net margin of 2.17% and a return on equity of 109.21%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.93 earnings per share. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. Equities research analysts forecast that Sysco Corporation will post 4.58 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.