Vanguard Amends Sysco (SYY) Stake: Shared Dispositive Power at 57.9M Shares

TL;DR

**Vanguard still holds a massive stake in Sysco, showing continued institutional confidence.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, indicating a change in its beneficial ownership of Sysco Corp (SYY) common stock as of December 29, 2023. Vanguard now reports shared voting power over 678,293 shares and shared dispositive power over 57,985,861 shares. This filing is important for investors as it shows Vanguard's continued significant, albeit slightly adjusted, passive stake in Sysco, signaling their long-term confidence in the company's fundamentals.

Why It Matters

This filing confirms Vanguard's substantial, passive investment in Sysco, which can reassure investors about institutional confidence in the company's stability and long-term prospects.

Risk Assessment

Risk Level: low — This filing indicates a passive investment by a large institutional investor, posing minimal direct risk to current shareholders.

Analyst Insight

Investors should note Vanguard's continued substantial, passive ownership as a sign of institutional confidence, but this filing alone doesn't suggest any immediate catalysts for Sysco's stock price.

Key Numbers

• 678,293 — Shared Voting Power (Number of shares Vanguard can vote in conjunction with others.)
• 57,985,861 — Shared Dispositive Power (Number of shares Vanguard can decide to sell or dispose of in conjunction with others.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and major institutional investor
• Sysco Corp (company) — subject company whose securities are being reported
• Pennsylvania (company) — place of organization for The Vanguard Group
• December 29, 2023 (date) — date of event requiring the filing
• February 13, 2024 (date) — filing date of the SC 13G/A amendment

Forward-Looking Statements

• Vanguard will maintain a significant, passive stake in Sysco Corp. (The Vanguard Group) — high confidence, target: Next 12-24 months

FAQ

Filing Documents

• tv02031-syscocorp.htm (SC 13G/A) — 11KB
• 0001104659-24-022054.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Sysco Corp

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 1390 Enclave Parkway Houston, TX 77077-2099

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 871829107

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration