BlackRock Amends Sysco Stake; Maintains Significant Holding
Ticker: SYY · Form: SC 13G/A · Filed: 2024-01-29T00:00:00.000Z
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.
From the Filing
EDGAR Filing Documents for 0001086364-24-005179 This page uses Javascript. Your browser either doesn't support Javascript or you have it turned off. To see this page as it is meant to appear please use a Javascript enabled browser. SEC.gov EDGAR Latest Filings Filings search tools Filing Detail SEC Home Company Search Current Page Form SC 13G/A - Statement of Beneficial Ownership by Certain Investors: [Amend] SEC Accession No. 0001086364-24-005179 Filing Date 2024-01-29 Accepted 2024-01-29 15:26:27 Documents 1 Document Format Files Seq Description Document Type Size 1 us8718291078_012924.txt SC 13G/A 11985 Complete submission text file 0001086364-24-005179.txt 13762 Mailing Address 1390 ENCLAVE PKWY HOUSTON TX 77077 Business Address 1390 ENCLAVE PKWY HOUSTON TX 77077 281-584-1390 SYSCO CORP (Subject) CIK : 0000096021 (see all company filings) EIN. : 741648137 | State of Incorp.: DE | Fiscal Year End: 0629 Type: SC 13G/A | Act: 34 | File No.: 005-18349 | Film No.: 24573155 SIC : 5140 Wholesale-Groceries & Related Products (CF Office: 07 Trade & Services) Mailing Address 50 HUDSON YARDS NEW YORK NY 10001 Business Address 50 HUDSON YARDS NEW YORK NY 10001 212-810-5300 BlackRock Inc. (Filed by) CIK : 0001364742 (see all company filings) EIN. : 320174431 | State of Incorp.: DE | Fiscal Year End: 1231 Type: SC 13G/A SIC : 6211 Security Brokers, Dealers & Flotation Companies (CF Office: 02 Finance)