Raiffeisen Bank International AG Sells 253,095 Shares of Sysco Corporation $SYY

Raiffeisen Bank International AG cut its stake in Sysco Corporation (NYSE:SYY) by 95.9% in the second quarter, HoldingsChannel reports. The fund owned 10,880 shares of the company’s stock after selling 253,095 shares during the period. Raiffeisen Bank International AG’s holdings in Sysco were worth $907,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SYY. Rogco LP boosted its stake in shares of Sysco by 5.7% in the 2nd quarter. Rogco LP now owns 8,492 shares of the company’s stock valued at $710,000 after purchasing an additional 456 shares during the last quarter. Syon Capital LLC lifted its stake in Sysco by 39.8% in the second quarter. Syon Capital LLC now owns 9,515 shares of the company’s stock valued at $795,000 after buying an additional 2,711 shares during the period. Concurrent Investment Advisors LLC increased its stake in shares of Sysco by 16.1% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 39,076 shares of the company’s stock valued at $3,266,000 after acquiring an additional 5,433 shares during the last quarter. NEOS Investment Management LLC raised its position in shares of Sysco by 15.2% in the 2nd quarter. NEOS Investment Management LLC now owns 79,271 shares of the company’s stock valued at $6,625,000 after acquiring an additional 10,445 shares during the period. Finally, AXQ Capital LP boosted its stake in Sysco by 618.6% during the 2nd quarter. AXQ Capital LP now owns 35,053 shares of the company’s stock worth $2,930,000 after acquiring an additional 30,175 shares during the last quarter. 83.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SYY shares. Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a research report on Sunday. Citigroup raised their price target on Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Piper Sandler upped their price target on shares of Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Melius Research lowered Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings upgraded shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 19th. Nine equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

Sysco Stock Performance

NYSE SYY opened at $80.10 on Friday. Sysco Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85. The stock has a market cap of $38.38 billion, a PE ratio of 21.89, a PEG ratio of 2.73 and a beta of 0.63. The company has a debt-to-equity ratio of 4.62, a quick ratio of 0.77 and a current ratio of 1.28. The firm’s fifty day moving average price is $83.13 and its two-hundred day moving average price is $80.33.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, beating 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 company had revenue of $22.12 billion for the quarter, compared to the consensus estimate of $21.95 billion. During the same quarter 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. On average, equities analysts expect that Sysco Corporation will post 5.12 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 2nd will be given a dividend of $0.55 per share. The ex-dividend date is Friday, October 2nd. This represents a $2.20 annualized dividend and a yield of 2.7%. Sysco’s dividend payout ratio (DPR) is currently 60.11%.

Insiders Place Their Bets

In other Sysco news, EVP Ronald Phillips sold 506 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $84.09, for a total transaction of $42,549.54. Following the sale, the executive vice president directly owned 36,313 shares of the company’s stock, valued at $3,053,560.17. The trade was a 1.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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. Over the last 90 days, insiders have sold 14,508 shares of company stock worth $1,215,250. Insiders own 0.56% of the company’s stock.

Sysco Company 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.