Principal Financial Group Inc. Raises Stock Holdings in Sysco Corporation $SYY

Principal Financial Group Inc. boosted its position in shares of Sysco Corporation (NYSE:SYY) by 1.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 558,785 shares of the company’s stock after acquiring an additional 10,485 shares during the quarter. Principal Financial Group Inc.’s holdings in Sysco were worth $39,858,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in SYY. Intech Investment Management LLC boosted its position in Sysco by 53.1% in the first quarter. Intech Investment Management LLC now owns 22,310 shares of the company’s stock valued at $1,674,000 after buying an additional 7,742 shares during the last quarter. Schnieders Capital Management LLC. raised its position in Sysco by 24.1% during the 2nd quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company’s stock worth $781,000 after buying an additional 2,000 shares during the last quarter. NewEdge Advisors LLC raised its position in Sysco by 62.4% during the 2nd quarter. NewEdge Advisors LLC now owns 35,447 shares of the company’s stock worth $2,685,000 after buying an additional 13,616 shares during the last quarter. Sei Investments Co. lifted its stake in Sysco by 14.2% during the 2nd quarter. Sei Investments Co. now owns 344,504 shares of the company’s stock valued at $26,092,000 after acquiring an additional 42,903 shares during the period. Finally, Treasurer of the State of North Carolina boosted its holdings in shares of Sysco by 0.8% in the 2nd quarter. Treasurer of the State of North Carolina now owns 226,648 shares of the company’s stock valued at $17,166,000 after acquiring an additional 1,710 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on SYY shares. Sanford C. Bernstein reduced their target price on shares of Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a report on Wednesday, April 29th. UBS Group cut their price target on Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, April 2nd. Morgan Stanley lifted their price objective on Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Thursday. Guggenheim decreased their price objective on Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Finally, Wall Street Zen downgraded Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Sysco presently has an average rating of “Hold” and an average target price of $88.00.

Insider Buying and Selling at Sysco

In other news, Director John M. Hinshaw bought 13,304 shares of the stock in a transaction dated Tuesday, May 26th. The shares were acquired at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the purchase, the director directly owned 40,200 shares in the company, valued at $3,021,834. The trade was a 49.46% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.56% of the company’s stock.

Sysco Price Performance

NYSE:SYY opened at $81.62 on Friday. The company has a debt-to-equity ratio of 5.58, a current ratio of 1.33 and a quick ratio of 0.80. The company has a 50 day moving average price of $78.63 and a 200-day moving average price of $79.45. Sysco Corporation has a 1-year low of $68.19 and a 1-year high of $91.85. The firm has a market cap of $39.03 billion, a price-to-earnings ratio of 22.61, a price-to-earnings-growth ratio of 3.11 and a beta of 0.64.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The firm had revenue of $20.52 billion for the quarter, compared to analysts’ expectations of $20.56 billion. Sysco had a return on equity of 103.57% and a net margin of 2.08%.The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the company posted $0.96 earnings per share. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. Equities research analysts forecast that Sysco Corporation will post 4.59 EPS for the current year.

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.