Billionaire Nelson Peltz’s Latest Portfolio: Top 5 Stock Picks

4. Sysco Corporation (NYSE:SYY)

Number of Hedge Fund Holders: 31

Nelson Peltz’s Trian Partners’ Holdings: $939,288,000

Percentage of Nelson Peltz’s Trian Partners’ Portfolio: 15.72%

Stock Price as of June 29: $85.30

Sysco Corporation (NYSE:SYY) is a Houston, Texas-based food distribution company that caters to the demand of restaurants. The company has a wide portfolio of products that comprises frozen meat and vegetables, bakery and dairy products, and paper and disposables. Sysco Corporation (NYSE:SYY) serves around 650,000 customers and is staging a comeback as economic activity is recovering after the pandemic.

On June 29, Jeffrey Bernstein at Barclays increased the target price on Sysco Corporation (NYSE:SYY) from $97 to $102 and reiterated an Overweight rating on the stock in a note issued to investors following a meeting with the management. The analyst considers Sysco Corporation (NYSE:SYY) as a solid pick at a time when concerns related to a recession are high, and investors are looking for defensive stocks.

Sysco Corporation (NYSE:SYY) was held by 31 hedge funds as of Q1 2022.