Fosun International Ltd Cuts Stock Holdings in Sysco Corporation $SYY

Fosun International Ltd trimmed its position in shares of Sysco Corporation (NYSE:SYY) by 33.7% during the first quarter, Holdings Channel.com reports. The fund owned 6,224 shares of the company’s stock after selling 3,167 shares during the quarter. Fosun International Ltd’s holdings in Sysco were worth $464,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of SYY. Rialto Wealth Management LLC raised its stake in shares of Sysco by 188.7% during the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company’s stock worth $25,000 after purchasing an additional 217 shares during the period. Parvin Asset Management LLC purchased a new position in shares of Sysco during the fourth quarter worth about $29,000. Golden State Wealth Management LLC boosted its stake in Sysco by 48.4% in the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock worth $32,000 after buying an additional 140 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in Sysco in the first quarter worth approximately $33,000. Finally, Capital A Wealth Management LLC bought a new stake in Sysco in the fourth quarter valued at approximately $34,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Sysco news, EVP Greg D. Bertrand sold 40,000 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the transaction, the executive vice president owned 56,304 shares in the company, valued at approximately $4,504,320. This represents a 41.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ronald L. Phillips sold 37,606 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total value of $3,046,086.00. Following the transaction, the executive vice president owned 30,235 shares in the company, valued at $2,449,035. This represents a 55.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 84,026 shares of company stock worth $6,766,059 in the last quarter. 0.54% of the stock is currently owned by company insiders.

Sysco Trading Up 0.2%

Shares of NYSE:SYY opened at $79.3680 on Wednesday. The business’s 50-day moving average is $77.81 and its 200 day moving average is $74.23. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $82.64. The firm has a market capitalization of $38.47 billion, a P/E ratio of 21.28, a P/E/G ratio of 2.45 and a beta of 0.83. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.09. The business had revenue of $21.14 billion for the quarter, compared to analyst estimates of $21.01 billion. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The company’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.39 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, research analysts predict that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SYY has been the subject of a number of research reports. Barclays increased their price objective on Sysco from $77.00 to $82.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Guggenheim lifted their target price on Sysco from $85.00 to $87.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. UBS Group set a $90.00 price target on Sysco in a report on Wednesday, July 30th. Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a report on Sunday, July 13th. Finally, Bank of America boosted their price objective on Sysco from $81.00 to $93.00 and gave the company a “buy” rating in a report on Friday, July 18th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and an average price target of $85.69.

Sysco Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.