Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Sysco Corporation (NYSE:SYY – Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 2,439,114 shares of the company’s stock, valued at approximately $203,861,000. Sysco accounts for about 1.6% of Diamond Hill Capital Management LLC Investment Advisor’s portfolio, making the stock its 18th largest position.
Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Sysco by 1.3% during 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. State Street Corp grew its holdings in Sysco by 0.9% in the third quarter. State Street Corp now owns 26,669,576 shares of the company’s stock valued at $2,195,973,000 after purchasing an additional 246,542 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Sysco by 1.0% in the fourth 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 in the last quarter. Norges Bank purchased a new position in shares of Sysco in the fourth quarter valued at $542,780,000. Finally, Morgan Stanley raised its stake in shares of 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 last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.
Wall Street Analyst Weigh In
SYY has been the topic of a number of research reports. Barclays lowered 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. Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Morgan Stanley increased their price target on shares of Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. Weiss Ratings reissued a “hold (c+)” rating on shares of Sysco in a research note on Friday, June 26th. Finally, Citigroup lifted their price objective on Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $89.50.
Insiders Place Their Bets
In other news, EVP Ronald L. Phillips sold 6,285 shares of Sysco stock in a transaction on Monday, August 10th. The stock was sold at an average price of $83.94, for a total value of $527,562.90. Following the completion of the sale, the executive vice president owned 39,970 shares of the company’s stock, valued at $3,355,081.80. The trade was a 13.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 bought 13,304 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was acquired at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the purchase, the director directly owned 40,200 shares of the company’s stock, valued at approximately $3,021,834. The trade was a 49.46% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.56% of the company’s stock.
Sysco Stock Performance
Shares of NYSE SYY opened at $82.94 on Monday. The company has a market cap 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. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85. 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 company has a 50-day simple moving average of $82.21 and a 200-day simple moving average of $80.66.
Sysco (NYSE:SYY – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.02. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The business had revenue of $22.12 billion for the quarter, compared to the consensus estimate of $21.95 billion. During the same quarter in the prior year, the firm posted $1.48 earnings per share. The company’s quarterly revenue 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. On average, equities analysts anticipate that Sysco Corporation will post 5.1 earnings per share for the current year.
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.
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