Diamond Hill Capital Management LLC Investment Advisor Invests $203.86 Million in Sysco Corporation $SYY

Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in Sysco Corporation (NYSE:SYY) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,439,114 shares of the company’s stock, valued at approximately $203,861,000. Sysco makes up approximately 1.6% of Diamond Hill Capital Management LLC Investment Advisor’s investment portfolio, making the stock its 18th biggest holding. Diamond Hill Capital Management LLC Investment Advisor owned about 0.51% of Sysco as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Teacher Retirement System of Texas grew its position in shares of Sysco by 8.0% during the fourth quarter. Teacher Retirement System of Texas now owns 370,571 shares of the company’s stock worth $27,307,000 after acquiring an additional 27,510 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in Sysco by 9.5% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 412,423 shares of the company’s stock valued at $30,445,000 after purchasing an additional 35,647 shares during the last quarter. Nicholas Company Inc. purchased a new stake in Sysco in the 4th quarter valued at $2,278,000. Norges Bank acquired a new stake in Sysco during the 4th quarter worth $542,780,000. Finally, Banque Cantonale Vaudoise boosted its stake in Sysco by 301.9% during the 1st quarter. Banque Cantonale Vaudoise now owns 16,828 shares of the company’s stock worth $1,200,000 after purchasing an additional 12,641 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

SYY has been the topic of a number of recent research reports. Barclays dropped their price objective on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Piper Sandler raised their price target on Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Citigroup boosted their price target on Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft downgraded Sysco from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a research note on Tuesday, April 28th. Finally, Sanford C. Bernstein decreased their price objective on Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a research report on Wednesday, April 29th. 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 company. Based on data from MarketBeat, Sysco has a consensus rating of “Hold” and an average price target of $89.50.

Insider Activity at Sysco

In other news, EVP Ronald L. Phillips sold 6,285 shares of the 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 completion of the transaction, the executive vice president directly owned 39,970 shares of the company’s stock, valued at approximately $3,355,081.80. This represents a 13.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 purchased 13,304 shares of Sysco stock in a transaction dated Tuesday, May 26th. The stock was acquired at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the acquisition, the director directly owned 40,200 shares in the company, valued at approximately $3,021,834. This trade represents a 49.46% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.56% of the company’s stock.

Sysco Stock Down 0.1%

SYY stock opened at $82.94 on Monday. Sysco Corporation has a one year low of $68.19 and a one year high of $91.85. The stock has a market capitalization of $39.71 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 2.84 and a beta of 0.64. The company has a debt-to-equity ratio of 4.62, a quick ratio of 0.77 and a current ratio of 1.28. The company has a fifty day moving average of $82.21 and a 200-day moving average of $80.66.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. The business had revenue of $22.12 billion for the quarter, compared to the consensus estimate of $21.95 billion. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous 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, analysts expect that Sysco Corporation will post 5.1 EPS for the current year.

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.