136,979 Shares in Sysco Corporation $SYY Bought by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. bought a new stake in shares of Sysco Corporation (NYSE:SYY) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 136,979 shares of the company’s stock, valued at approximately $11,449,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Sysco by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company’s stock worth $4,591,281,000 after acquiring an additional 814,270 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Sysco during the second quarter valued at about $3,596,356,000. State Street Corp increased 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 valued at $2,195,973,000 after acquiring an additional 246,542 shares in the last quarter. Geode Capital Management LLC raised its position in shares of 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 purchasing an additional 131,659 shares during the last quarter. Finally, Norges Bank acquired a new stake in Sysco in the 4th quarter worth approximately $542,780,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SYY. Morgan Stanley boosted their target price on shares of Sysco from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. UBS Group raised their price target on shares of Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Sanford C. Bernstein lowered their price objective on shares of Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a research note on Wednesday, April 29th. Barclays dropped their price objective on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock 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 equities research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $89.50.

Sysco Price Performance

Shares of NYSE SYY opened at $82.58 on Thursday. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85. The business’s 50 day moving average price is $82.48 and its 200 day moving average price is $80.62. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62. The firm has a market cap of $39.53 billion, a P/E ratio of 22.56, a P/E/G ratio of 2.81 and a beta of 0.64.

Sysco (NYSE:SYY) last posted 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. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The company had revenue of $22.12 billion during the quarter, compared to analyst estimates of $21.95 billion. During the same period last year, the firm posted $1.48 EPS. Sysco’s revenue for the quarter 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. On average, sell-side analysts expect that Sysco Corporation will post 5.1 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Ronald L. Phillips sold 367 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $83.39, for a total transaction of $30,604.13. Following the completion of the transaction, the executive vice president owned 38,650 shares of the company’s stock, valued at $3,223,023.50. This trade represents a 0.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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. Also, Director John M. Hinshaw bought 13,304 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the transaction, the director directly owned 40,200 shares of the company’s stock, valued at $3,021,834. This trade represents a 49.46% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.56% of the stock is owned by corporate insiders.

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.