Vanguard Group Inc. Sells 1,200,104 Shares of Sysco Corporation $SYY

Vanguard Group Inc. lessened its stake in Sysco Corporation (NYSE:SYY) by 1.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,491,073 shares of the company’s stock after selling 1,200,104 shares during the period. Vanguard Group Inc. owned 12.84% of Sysco worth $5,063,175,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of SYY. State of New Jersey Common Pension Fund D increased its stake in shares of Sysco by 1.8% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 164,871 shares of the company’s stock valued at $13,575,000 after buying an additional 2,922 shares during the period. Troy Asset Management Ltd boosted its holdings in Sysco by 13.0% in the third quarter. Troy Asset Management Ltd now owns 447,432 shares of the company’s stock valued at $36,842,000 after acquiring an additional 51,344 shares during the last quarter. HighTower Advisors LLC increased its position in Sysco by 0.6% in the third quarter. HighTower Advisors LLC now owns 395,040 shares of the company’s stock worth $32,528,000 after purchasing an additional 2,520 shares during the period. Berkshire Asset Management LLC PA raised its holdings in Sysco by 1.3% during the 3rd quarter. Berkshire Asset Management LLC PA now owns 24,436 shares of the company’s stock worth $2,012,000 after purchasing an additional 306 shares during the last quarter. Finally, Cidel Asset Management Inc. lifted its position in Sysco by 6.8% during the 3rd quarter. Cidel Asset Management Inc. now owns 3,499 shares of the company’s stock valued at $288,000 after purchasing an additional 222 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SYY shares. Sanford C. Bernstein set a $90.00 price objective on shares of Sysco and gave the company a “market perform” rating in a research note on Wednesday, January 28th. Citigroup raised their price target on Sysco from $81.00 to $88.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. JPMorgan Chase & Co. lifted their price objective on Sysco from $85.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Barclays increased their target price on Sysco from $88.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Finally, Piper Sandler upped their price target on Sysco from $80.00 to $83.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. Nine analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Sysco has a consensus rating of “Moderate Buy” and a consensus target price of $89.69.

Insider Transactions at Sysco

In other news, Director Sheila Talton sold 2,801 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $82.99, for a total transaction of $232,454.99. Following the completion of the transaction, the director directly owned 12,868 shares of the company’s stock, valued at $1,067,915.32. This represents a 17.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ronald L. Phillips sold 5,601 shares of Sysco stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $81.00, for a total value of $453,681.00. Following the completion of the sale, the executive vice president directly owned 35,965 shares in the company, valued at approximately $2,913,165. This represents a 13.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.56% of the stock is currently owned by corporate insiders.

Sysco Price Performance

NYSE SYY opened at $89.61 on Wednesday. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.75 and a current ratio of 1.30. The stock has a market cap of $42.92 billion, a price-to-earnings ratio of 24.09, a PEG ratio of 2.81 and a beta of 0.61. The business has a 50 day simple moving average of $78.64 and a 200 day simple moving average of $78.56. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $91.85.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 27th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.01. Sysco had a net margin of 2.17% and a return on equity of 109.21%. The company had revenue of $20.76 billion during the quarter, compared to analysts’ expectations of $20.80 billion. During the same quarter in the prior year, the company earned $0.93 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. Analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

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.