Heartland Advisors Inc. increased its position in shares of Sysco Corporation (NYSE:SYY – Free Report) by 22.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 190,561 shares of the company’s stock after acquiring an additional 35,438 shares during the quarter. Heartland Advisors Inc.’s holdings in Sysco were worth $13,593,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in 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 period. State Street Corp grew its holdings in shares of Sysco by 0.9% in the 3rd quarter. State Street Corp now owns 26,669,576 shares of the company’s stock valued at $2,195,973,000 after buying an additional 246,542 shares during the period. Geode Capital Management LLC grew its holdings in shares of Sysco by 1.0% in 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 period. Norges Bank bought a new stake in shares of Sysco in the 4th quarter valued at $542,780,000. Finally, Morgan Stanley raised its stake in Sysco by 9.0% during the 4th quarter. Morgan Stanley now owns 6,058,405 shares of the company’s stock worth $446,444,000 after buying an additional 500,881 shares during the period. Institutional investors own 83.41% of the company’s stock.
Insider Buying and Selling at Sysco
In other news, Director John M. Hinshaw acquired 13,304 shares of Sysco stock in a transaction dated Tuesday, May 26th. The stock was bought 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 of the company’s stock, valued at approximately $3,021,834. This represents a 49.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is owned by corporate insiders.
Sysco Trading Down 0.8%
Sysco (NYSE:SYY – Get Free Report) last released its earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Sysco had a return on equity of 103.57% and a net margin of 2.08%.The firm had revenue of $20.52 billion for the quarter, compared to the consensus estimate of $20.56 billion. During the same quarter last year, the company posted $0.96 EPS. Sysco’s revenue for the quarter was up 4.7% on a year-over-year basis. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. As a group, research analysts anticipate that Sysco Corporation will post 4.59 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several research firms have weighed in on SYY. Barclays reduced their target price on Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Melius Research lowered Sysco from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th. Guggenheim cut their price objective on Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. 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. Finally, Citigroup boosted their price objective on Sysco from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. 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, the stock presently has an average rating of “Hold” and an average price target of $88.00.
View Our Latest Stock Report on Sysco
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.
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