Sysco Co. (NYSE:SYY) Shares Bought by Truvestments Capital LLC

Truvestments Capital LLC lifted its holdings in Sysco Co. (NYSE:SYY) by 140.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 930 shares of the company’s stock after buying an additional 543 shares during the period. Truvestments Capital LLC’s holdings in Sysco were worth $76,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SYY. Harbour Trust & Investment Management Co acquired a new position in shares of Sysco in the 4th quarter valued at $4,623,000. Pacer Advisors Inc. grew its stake in shares of Sysco by 40.1% in the fourth quarter. Pacer Advisors Inc. now owns 82,239 shares of the company’s stock valued at $6,014,000 after buying an additional 23,558 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Sysco by 16.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 298,982 shares of the company’s stock valued at $21,865,000 after buying an additional 41,618 shares during the period. Bridgefront Capital LLC acquired a new position in Sysco during the 4th quarter worth about $841,000. Finally, Nebula Research & Development LLC acquired a new position in Sysco in the 4th quarter valued at about $916,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Up 1.0 %

Shares of SYY stock traded up $0.73 on Friday, reaching $72.85. 3,196,592 shares of the stock were exchanged, compared to its average volume of 2,946,025. The company has a current ratio of 1.34, a quick ratio of 0.77 and a debt-to-equity ratio of 5.77. The business’s 50 day moving average price is $72.27 and its 200 day moving average price is $76.08. The company has a market capitalization of $36.28 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 1.96 and a beta of 1.18. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.01. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The company had revenue of $19.38 billion during the quarter, compared to the consensus estimate of $19.74 billion. During the same quarter in the prior year, the firm posted $0.90 earnings per share. Sysco’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, sell-side analysts expect that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SYY has been the topic of several research reports. Piper Sandler reduced their price target on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Truist Financial decreased their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Morgan Stanley cut their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Barclays lowered their target price on Sysco from $88.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Finally, JPMorgan Chase & Co. reduced their price target on Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and an average price target of $85.00.

About Sysco

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.