Oxbow Advisors LLC Invests $802,000 in Sysco Corporation $SYY

Oxbow Advisors LLC purchased a new position in Sysco Corporation (NYSE:SYY) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 9,600 shares of the company’s stock, valued at approximately $802,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Sysco by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company’s stock worth $4,591,281,000 after purchasing an additional 814,270 shares during the last quarter. BlackRock Inc. bought a new stake in Sysco in the 2nd quarter worth approximately $3,596,356,000. State Street Corp grew its position in Sysco by 0.9% in the 3rd quarter. State Street Corp now owns 26,669,576 shares of the company’s stock worth $2,195,973,000 after purchasing an additional 246,542 shares during the period. Geode Capital Management LLC raised its stake in Sysco by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company’s stock valued at $934,391,000 after buying an additional 131,659 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Sysco during the 4th quarter valued at $542,780,000. 83.41% of the stock is currently owned by institutional investors.

Sysco Trading Up 0.3%

NYSE:SYY opened at $82.07 on Wednesday. The company has a debt-to-equity ratio of 4.62, a current ratio of 1.28 and a quick ratio of 0.77. The firm has a market capitalization of $39.29 billion, a price-to-earnings ratio of 22.42, a price-to-earnings-growth ratio of 2.84 and a beta of 0.64. Sysco Corporation has a one year low of $68.19 and a one year high of $91.85. The business has a fifty day moving average price of $82.40 and a 200-day moving average price of $80.63.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $21.95 billion. During the same period last year, the firm earned $1.48 EPS. Sysco’s revenue for the quarter was up 4.7% compared to the same quarter last year. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. Sell-side analysts forecast that Sysco Corporation will post 5.1 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SYY shares. Wall Street Zen downgraded Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Barclays reduced their price objective on Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. UBS Group raised their target price on Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Sanford C. Bernstein cut their price target on Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a research note on Wednesday, April 29th. Finally, Citigroup upped their price target on shares of Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Eight investment 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, Sysco currently has an average rating of “Hold” and an average target price of $89.50.

Insider Activity

In related news, Director John M. Hinshaw acquired 13,304 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the purchase, the director owned 40,200 shares in the company, valued at $3,021,834. The trade was a 49.46% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ronald L. Phillips sold 6,285 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was 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 in the company, valued at approximately $3,355,081.80. The trade was a 13.59% decrease in their position. 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. 0.56% of the stock is owned by company insiders.

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.