Swiss National Bank Boosts Stock Position in Sysco Corporation $SYY

Key Points

• Swiss National Bank increased its Sysco stake by 7.2% in the first quarter, adding 94,000 shares to reach 1,405,300 shares valued at about $100.2 million.
• Sysco also saw notable insider buying: Director John M. Hinshaw purchased 13,304 shares for just over $1.0 million, boosting his position by 49.46%.
• The stock was down 1.1% to $80.79, and analysts currently rate Sysco a Hold on average, with a consensus price target of $88.00.

Swiss National Bank lifted its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 7.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,405,300 shares of the company's stock after purchasing an additional 94,000 shares during the quarter. Swiss National Bank owned about 0.29% of Sysco worth $100,240,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in SYY. Vanguard Group Inc. boosted 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 buying an additional 814,270 shares during the period. State Street Corp increased its stake 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 buying an additional 246,542 shares during the period. Geode Capital Management LLC increased its stake in shares of Sysco by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company's stock worth $934,391,000 after buying an additional 131,659 shares during the period. Norges Bank acquired a new stake in Sysco in the fourth quarter valued at approximately $542,780,000. Finally, Morgan Stanley lifted its stake in Sysco by 9.0% in the fourth quarter. Morgan Stanley now owns 6,058,405 shares of the company's stock worth $446,444,000 after acquiring an additional 500,881 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company's stock.

Insiders Place Their Bets

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

Sysco Stock Down 1.1%

Sysco stock opened at $80.79 on Tuesday. The stock's 50 day moving average price is $78.79 and its 200 day moving average price is $79.53. Sysco Corporation has a 1-year low of $68.19 and a 1-year high of $91.85. The company has a market cap of $38.63 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 3.12 and a beta of 0.64. The company has a debt-to-equity ratio of 5.58, a current ratio of 1.33 and a quick ratio of 0.80.

Sysco (NYSE:SYY - Get Free Report) last issued its earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share 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 company had revenue of $20.52 billion for the quarter, compared to analyst estimates of $20.56 billion. During the same quarter in the previous year, the company posted $0.96 earnings per share. The company's quarterly revenue was up 4.7% compared to the same quarter last year. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. On average, sell-side analysts predict that Sysco Corporation will post 4.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wall Street Zen downgraded Sysco from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Guggenheim decreased their target price on Sysco from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Thursday, April 2nd. Piper Sandler lowered their price target on Sysco from $83.00 to $77.00 and set a "neutral" rating for the company in a report on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft lowered shares of Sysco from a "buy" rating to a "hold" rating and set a $84.00 price target on the stock. in a research note on Tuesday, April 28th. Finally, UBS Group reduced their price objective on shares of Sysco from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Thursday, April 2nd. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Sysco currently has an average rating of "Hold" and an average price target of $88.00.

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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