Citizens Financial Group Inc. RI Makes New Investment in Sysco Corporation $SYY

Citizens Financial Group Inc. RI purchased a new stake in shares of Sysco Corporation (NYSE:SYY) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 54,899 shares of the company’s stock, valued at approximately $4,588,000.

Other hedge funds have also modified their holdings of the company. Lloyd Advisory Services LLC. acquired a new stake in Sysco during the fourth quarter valued at $25,000. Motiv8 Investments LLC purchased a new stake in shares of Sysco during the 4th quarter worth about $25,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Sysco during the 2nd quarter worth about $29,000. Sunbelt Securities Inc. lifted its holdings in shares of Sysco by 87.6% during the 1st quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock valued at $26,000 after buying an additional 170 shares during the last quarter. Finally, Bard Associates Inc. acquired a new stake in shares of Sysco during the 4th quarter valued at about $27,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Barclays dropped their price objective on Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Citigroup boosted their target price on shares of Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Melius Research lowered shares of Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Piper Sandler lifted their price objective on shares of Sysco from $77.00 to $84.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Sysco in a report on Friday, June 26th. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $89.50.

Sysco Stock Down 1.4%

Shares of Sysco stock opened at $81.79 on Tuesday. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85. 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 stock has a 50 day moving average price of $82.31 and a two-hundred day moving average price of $80.64. The stock has a market capitalization of $39.16 billion, a P/E ratio of 22.35, a PEG ratio of 2.84 and a beta of 0.64.

Sysco (NYSE:SYY) last released 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 net margin of 2.08% and a return on equity of 95.05%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm 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. Equities analysts expect that Sysco Corporation will post 5.1 earnings per share for the current year.

Insider Buying and Selling at Sysco

In other news, Director John M. Hinshaw bought 13,304 shares of the business’s 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 approximately $3,021,834. The trade was a 49.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Ronald L. Phillips sold 6,285 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $83.94, for a total transaction of $527,562.90. Following the sale, the executive vice president owned 39,970 shares of the company’s stock, valued at $3,355,081.80. This trade represents a 13.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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.