Wealthfront Advisers LLC Takes Position in Sysco Corporation $SYY

Wealthfront Advisers LLC acquired a new stake in Sysco Corporation (NYSE:SYY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 95,424 shares of the company’s stock, valued at approximately $7,976,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SYY. Vanguard Group Inc. lifted its stake in shares of Sysco by 1.3% in the 4th 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 during the last quarter. BlackRock Inc. acquired a new stake in shares of Sysco during the 2nd quarter worth about $3,596,356,000. State Street Corp raised its holdings in 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 raised its holdings in 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. Finally, Norges Bank acquired a new position in Sysco in the fourth quarter valued at about $542,780,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Melius Research lowered shares of Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft lowered shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 price objective on the stock. in a report on Tuesday, April 28th. Citigroup increased their price objective on shares of Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Morgan Stanley lifted their target price on shares of Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Finally, Sanford C. Bernstein cut their target price on Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 29th. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $89.50.

Insider Buying and Selling

In other Sysco news, Director John M. Hinshaw purchased 13,304 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was bought at an average price of $75.17 per share, with a total value of $1,000,061.68. Following 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ronald L. Phillips sold 6,285 shares of the business’s stock in a transaction 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 owned 39,970 shares of the company’s stock, valued at approximately $3,355,081.80. This trade represents a 13.59% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders own 0.56% of the company’s stock.

Sysco Stock Performance

Shares of Sysco stock opened at $82.58 on Thursday. The stock has a market capitalization of $39.53 billion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 2.81 and a beta of 0.64. 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 business has a 50-day moving average of $82.48 and a 200 day moving average of $80.62. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The company had revenue of $22.12 billion for the quarter, compared to analyst estimates of $21.95 billion. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior 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, sell-side analysts forecast 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.