D.A. Davidson & CO. Acquires 41,976 Shares of Sysco Corporation $SYY

Key Points

• D.A. Davidson & Co. increased its Sysco stake by 24.5% in Q1, buying 41,976 shares and lifting its total holdings to 213,490 shares worth about $15.2 million.
• Several other large institutions also added to or initiated positions in Sysco, and the stock is now 83.41% owned by institutional investors.
• Analysts remain mixed on Sysco: the consensus rating is Hold with an average price target of $88.38, while the company recently reported EPS and revenue slightly below estimates.

D.A. Davidson & CO. grew its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 24.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 213,490 shares of the company's stock after buying an additional 41,976 shares during the quarter. D.A. Davidson & CO.'s holdings in Sysco were worth $15,228,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in Sysco during the 4th quarter worth about $542,780,000. Wellington Management Group LLP lifted its position in shares of Sysco by 3,977.1% during the third quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company's stock worth $387,935,000 after purchasing an additional 4,595,819 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Sysco by 45.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,651,682 shares of the company's stock worth $416,472,000 after purchasing an additional 1,754,306 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Sysco by 102.6% during the third quarter. Marshall Wace LLP now owns 2,359,471 shares of the company's stock valued at $194,279,000 after purchasing an additional 1,194,815 shares during the last quarter. Finally, Suvretta Capital Management LLC bought a new stake in shares of Sysco during the fourth quarter valued at approximately $79,864,000. 83.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SYY. UBS Group lowered their price target on shares of Sysco from $95.00 to $90.00 and set a "buy" rating for the company in a report on Thursday, April 2nd. Morgan Stanley upped their price objective on Sysco from $84.00 to $88.00 and gave the stock an "equal weight" rating in a report on Thursday. Wall Street Zen lowered Sysco from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Citigroup upped their price target on Sysco from $78.00 to $80.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. Finally, Barclays decreased their price target on Sysco from $92.00 to $86.00 and set an "overweight" rating on the stock in a report on Wednesday, April 29th. Nine 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's stock. According to MarketBeat.com, Sysco has a consensus rating of "Hold" and an average price target of $88.38.

Insider Buying and Selling

In related news, Director John M. Hinshaw bought 13,304 shares of the business's stock in a transaction on Tuesday, May 26th. The shares were purchased 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 owned 40,200 shares of the company's stock, valued at $3,021,834. This represents a 49.46% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.56% of the company's stock.

Sysco Price Performance

SYY opened at $82.09 on Friday. The company has a fifty day moving average price of $78.44 and a two-hundred day moving average price of $79.44. The firm has a market capitalization of $39.25 billion, a PE ratio of 22.74, a P/E/G ratio of 3.08 and a beta of 0.64. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85. The company has a debt-to-equity ratio of 5.58, a quick ratio of 0.80 and a current ratio of 1.33.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings results 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). Sysco had a net margin of 2.08% and a return on equity of 103.57%. The company had revenue of $20.52 billion during the quarter, compared to analyst estimates of $20.56 billion. During the same period last year, the company earned $0.96 EPS. The business's revenue for the quarter was up 4.7% compared to the same quarter last year. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. As a group, analysts anticipate that Sysco Corporation will post 4.59 earnings per share for the current 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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