BlackRock Amends Sysco Stake; Maintains Significant Holding
Ticker: SYY · Form: SC 13G/A · Filed: Jan 29, 2024 · CIK: 96021
| Field | Detail |
|---|---|
| Company | Sysco Corp (SYY) |
| Form Type | SC 13G/A |
| Filed Date | Jan 29, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
Related Tickers: SYY
TL;DR
**BlackRock still owns a big chunk of Sysco, signaling institutional confidence.**
AI Summary
BlackRock Inc. filed an Amendment No. 11 to its SC 13G/A for SYSCO CORPORATION on January 29, 2024, reporting its ownership stake as of December 31, 2023. This filing indicates BlackRock continues to be a significant institutional holder of Sysco's common stock. This matters to investors because large institutional ownership by firms like BlackRock can signal confidence in the company's long-term prospects and can influence stock stability due to their typically long holding periods.
Why It Matters
This filing confirms BlackRock's continued substantial investment in Sysco, which can be seen as a vote of confidence from a major institutional investor. Such large holdings can provide a degree of stability to the stock price.
Risk Assessment
Risk Level: low — This filing is a routine update from a major institutional investor and does not indicate any immediate risks or significant changes in ownership that would negatively impact the stock.
Analyst Insight
Investors should note BlackRock's continued presence as a major shareholder, which suggests institutional confidence in Sysco. This information can be factored into a broader analysis of Sysco's investment profile, but it doesn't necessitate immediate action.
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- SYSCO CORPORATION (company) — the subject company whose securities are being reported
- December 31, 2023 (date) — the date of the event requiring the filing
- January 29, 2024 (date) — the filing date of the SC 13G/A amendment
- Amendment No. 11 (number) — the specific amendment number to the SC 13G filing
Forward-Looking Statements
- BlackRock will likely maintain a significant stake in Sysco for the foreseeable future. (BlackRock Inc.) — high confidence, target: 2025-12-31
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G, specifically Amendment No. 11, filed under Rule 13d-1(b) of the Securities Exchange Act of 1934.
Who is the reporting person in this filing?
The reporting person is BlackRock, Inc., a major institutional investment manager based at 50 Hudson Yards, New York, NY.
Which company's securities are being reported on?
The securities being reported on are the Common Stock of SYSCO CORPORATION, which has a CUSIP Number of 871829107.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023.
What is the business address of SYSCO CORPORATION?
SYSCO CORPORATION's business address is 1390 Enclave Pkwy, Houston, TX 77077.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 29, 2024 regarding SYSCO CORP (SYY).