Levin Capital Strategies L.P. Invests $3.04 Million in Sysco Corporation $SYY

Key Points

• Levin Capital Strategies opened a new position in Sysco during the first quarter, buying 42,663 shares worth about $3.04 million.
• Institutional ownership remains high, with hedge funds and other institutions holding 83.41% of Sysco’s shares. Several other investors also added to or initiated positions in the company.
• Analyst sentiment is mixed: recent target cuts came from UBS, Bernstein, and Piper Sandler, and the consensus rating is now “Hold” with an average price target of $88.

Levin Capital Strategies L.P. acquired a new position in shares of Sysco Corporation (NYSE:SYY - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 42,663 shares of the company's stock, valued at approximately $3,043,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SYY. Signature Equity Partners LLC lifted its holdings in shares of Sysco by 31.0% during the 1st quarter. Signature Equity Partners LLC now owns 2,230 shares of the company's stock valued at $159,000 after purchasing an additional 528 shares during the last quarter. First Citizens Bank & Trust Co. grew its stake in Sysco by 2.5% during the 1st quarter. First Citizens Bank & Trust Co. now owns 11,504 shares of the company's stock worth $821,000 after buying an additional 280 shares during the last quarter. CacheTech Inc. grew its stake in Sysco by 8.1% during the 1st quarter. CacheTech Inc. now owns 41,871 shares of the company's stock worth $2,987,000 after buying an additional 3,130 shares during the last quarter. Oslo Pensjonsforsikring AS acquired a new position in Sysco during the 1st quarter valued at about $126,000. Finally, Andra AP fonden acquired a new position in Sysco during the 1st quarter valued at about $4,953,000. Hedge funds and other institutional investors own 83.41% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. UBS Group lowered their price target on Sysco from $95.00 to $90.00 and set a "buy" rating for the company in a report on Thursday, April 2nd. Sanford C. Bernstein cut their price objective on shares of Sysco from $90.00 to $85.00 and set a "market perform" rating on the stock in a report on Wednesday, April 29th. Piper Sandler lowered their target price on shares of Sysco from $83.00 to $77.00 and set a "neutral" rating for the company in a research note on Tuesday, April 7th. Weiss Ratings reissued a "hold (c+)" rating on shares of Sysco in a research report on Friday, June 26th. Finally, Melius Research lowered shares of Sysco from a "hold" rating to a "sell" rating in a research note on Tuesday, July 7th. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Sysco has an average rating of "Hold" and a consensus target price of $88.00.

Sysco Stock Up 1.2%

Sysco stock opened at $82.23 on Thursday. The business's 50-day simple moving average is $79.13 and its two-hundred day simple moving average is $79.65. The company has a debt-to-equity ratio of 5.58, a quick ratio of 0.80 and a current ratio of 1.33. The company has a market cap of $39.37 billion, a PE ratio of 22.78, a PEG ratio of 3.20 and a beta of 0.64. Sysco Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.01). Sysco had a return on equity of 103.57% and a net margin of 2.08%.The firm had revenue of $20.52 billion during the quarter, compared to analysts' expectations of $20.56 billion. During the same quarter in the previous year, the business earned $0.96 earnings per share. The company'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. Equities analysts anticipate that Sysco Corporation will post 4.59 EPS for the current year.

Insider Transactions at Sysco

In other Sysco news, Director John M. Hinshaw purchased 13,304 shares of Sysco stock in a transaction on Tuesday, May 26th. The stock was bought at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.56% of the company's stock.

Sysco 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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