Dimensional Fund Advisors LP raised its position in Sysco Corporation (NYSE:SYY – Free Report) by 1.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 4,667,412 shares of the company’s stock after acquiring an additional 59,685 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Sysco were worth $332,871,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its holdings 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 valued at $4,591,281,000 after purchasing an additional 814,270 shares in the last quarter. State Street Corp lifted its holdings in Sysco by 0.9% during the 3rd quarter. State Street Corp now owns 26,669,576 shares of the company’s stock worth $2,195,973,000 after buying an additional 246,542 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Sysco by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company’s stock worth $934,391,000 after buying an additional 131,659 shares in the last quarter. Norges Bank purchased a new position in Sysco in the 4th quarter valued at approximately $542,780,000. Finally, Morgan Stanley grew its stake in shares of Sysco by 9.0% in the fourth quarter. Morgan Stanley now owns 6,058,405 shares of the company’s stock worth $446,444,000 after acquiring an additional 500,881 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have recently weighed in on SYY. Guggenheim cut their price objective on Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, April 2nd. Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Piper Sandler lowered their target price on Sysco from $83.00 to $77.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Sanford C. Bernstein cut their price target on Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a report on Wednesday, April 29th. Finally, Morgan Stanley increased their price target on Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $88.00.
Insider Buying and Selling
In other Sysco news, Director John M. Hinshaw purchased 13,304 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were bought at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the completion of the purchase, the director directly owned 40,200 shares in the company, 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 SEC, which can be accessed through this link. 0.56% of the stock is owned by company insiders.
Sysco Trading Up 0.5%
NYSE SYY opened at $81.21 on Wednesday. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85. The firm has a 50 day moving average of $78.95 and a two-hundred day moving average of $79.59. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 5.58. The stock has a market capitalization of $38.83 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 3.18 and a beta of 0.64.
Sysco (NYSE:SYY – Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The firm had revenue of $20.52 billion during the quarter, compared to analyst estimates of $20.56 billion. Sysco had a net margin of 2.08% and a return on equity of 103.57%. Sysco’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.96 earnings per share. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. As a group, research analysts expect that Sysco Corporation will post 4.59 EPS 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.
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