Deutsche Bank AG Acquires New Stake in Sysco Corporation $SYY

Deutsche Bank AG bought a new position in shares of Sysco Corporation (NYSE:SYY) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 1,699,405 shares of the company’s stock, valued at approximately $142,036,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Sysco during the fourth quarter worth about $542,780,000. Wellington Management Group LLP lifted its stake in shares of Sysco by 3,977.1% in the third quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company’s stock worth $387,935,000 after acquiring an additional 4,595,819 shares during the period. Bank of New York Mellon Corp bought a new stake in Sysco in the second quarter valued at approximately $273,323,000. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in Sysco in the second quarter valued at approximately $203,861,000. Finally, First Nebraska Trust Co acquired a new stake in Sysco during the 1st quarter valued at approximately $156,697,000. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

NYSE:SYY opened at $82.58 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. Sysco Corporation has a twelve month low of $68.19 and a twelve month high of $91.85. The company has a fifty day moving average of $82.48 and a 200-day moving average of $80.62. The firm 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.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. The business 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%. Sysco’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $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, sell-side analysts anticipate that Sysco Corporation will post 5.1 EPS for the current year.

Insider Transactions at Sysco

In other news, EVP Ronald L. Phillips sold 6,285 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $83.94, for a total value of $527,562.90. Following the completion of the sale, the executive vice president directly owned 39,970 shares in the company, valued at $3,355,081.80. This trade represents a 13.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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. Also, 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, with a total value of $1,000,061.68. Following the completion of the transaction, the director directly owned 40,200 shares in the company, valued at $3,021,834. This represents a 49.46% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.56% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SYY has been the topic of a number of recent analyst reports. 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 report on Wednesday, April 29th. UBS Group increased their price objective on shares of Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Piper Sandler boosted their target price on shares of Sysco from $77.00 to $84.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft downgraded Sysco from a “buy” rating to a “hold” rating and set a $84.00 price target for the company. in a report on Tuesday, April 28th. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Sysco currently has an average rating of “Hold” and a consensus target price of $89.50.

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.