Empowered Funds LLC Acquires 41,525 Shares of Sysco Corporation $SYY

Key Points

• Empowered Funds LLC increased its Sysco stake by 74.8% in the first quarter, acquiring 41,525 shares and bringing its total holdings to 97,033 shares valued at approximately $6.9 million. Institutional investors collectively own 83.41% of Sysco.
• Sysco exceeded quarterly expectations, reporting $1.53 in EPS and $22.12 billion in revenue, with revenue up 4.7% year over year. The company also issued fiscal 2027 EPS guidance of $5.025 to $5.117.
• Analyst sentiment remains mixed: eight analysts rate Sysco a Buy, seven rate it Hold, and one rates it Sell, resulting in a consensus “Hold” rating and an average price target of $89.50 versus the stock’s $82.94 opening price.

Empowered Funds LLC grew its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 74.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 97,033 shares of the company's stock after acquiring an additional 41,525 shares during the quarter. Empowered Funds LLC's holdings in Sysco were worth $6,921,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of SYY. Vanguard Group Inc. boosted 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 buying an additional 814,270 shares during the period. State Street Corp raised its holdings in shares of Sysco by 0.9% during the third quarter. State Street Corp now owns 26,669,576 shares of the company's stock worth $2,195,973,000 after acquiring an additional 246,542 shares during the period. Geode Capital Management LLC lifted its position 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 acquiring an additional 131,659 shares in the last quarter. Norges Bank bought a new stake in Sysco in the 4th quarter valued at $542,780,000. Finally, Morgan Stanley boosted its stake in Sysco by 9.0% in the 4th quarter. Morgan Stanley now owns 6,058,405 shares of the company's stock worth $446,444,000 after purchasing an additional 500,881 shares during the period. 83.41% of the stock is owned by institutional investors.

Insider Activity at Sysco

In related news, Director John M. Hinshaw acquired 13,304 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were bought at an average price of $75.17 per share, for a total transaction of $1,000,061.68. Following the purchase, the director directly owned 40,200 shares in the company, valued at approximately $3,021,834. This trade represents a 49.46% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ronald L. Phillips sold 6,285 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were 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 directly owned 39,970 shares of the company's stock, valued at approximately $3,355,081.80. The trade was a 13.59% decrease in their position. The SEC filing for this sale provides additional information. 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. 0.56% of the stock is owned by insiders.

Sysco Stock Down 0.7%

Sysco stock opened at $82.94 on Friday. The company has a market cap of $39.71 billion, a P/E ratio of 22.66, a price-to-earnings-growth ratio of 2.84 and a beta of 0.64. Sysco Corporation has a 1-year low of $68.19 and a 1-year high of $91.85. The company has a fifty day simple moving average of $82.21 and a 200 day simple moving average of $80.62. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $22.12 billion for the quarter, compared to analyst estimates of $21.95 billion. During the same period in the previous year, the business earned $1.48 EPS. The company's 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. Research analysts anticipate that Sysco Corporation will post 5.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SYY has been the subject of a number of research reports. UBS Group increased their target price on Sysco from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Piper Sandler boosted their price target on Sysco from $77.00 to $84.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. Morgan Stanley upped their price objective on Sysco from $84.00 to $88.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 16th. 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 report on Wednesday, April 29th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Sysco in a research report on Friday, June 26th. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $89.50.

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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