Simplicity Wealth LLC Grows Stake in Sysco Co. (NYSE:SYY)

Simplicity Wealth LLC lifted its stake in shares of Sysco Co. (NYSE:SYY) by 44.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,197 shares of the company’s stock after purchasing an additional 23,678 shares during the period. Simplicity Wealth LLC’s holdings in Sysco were worth $5,511,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of SYY. Harbour Trust & Investment Management Co purchased a new stake in Sysco during the 4th quarter valued at about $4,623,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Sysco by 16.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 298,982 shares of the company’s stock valued at $21,865,000 after acquiring an additional 41,618 shares in the last quarter. Bridgefront Capital LLC purchased a new stake in Sysco during the 4th quarter valued at about $841,000. Nebula Research & Development LLC purchased a new stake in Sysco during the 4th quarter valued at about $916,000. Finally, Artisan Partners Limited Partnership grew its stake in Sysco by 11.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 597,216 shares of the company’s stock valued at $43,674,000 after acquiring an additional 62,556 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Trading Up 0.4 %

Shares of SYY stock traded up $0.30 during trading hours on Thursday, hitting $75.55. The company had a trading volume of 2,672,309 shares, compared to its average volume of 3,146,385. The company’s fifty day moving average is $72.63 and its 200 day moving average is $76.09. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.77. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The stock has a market capitalization of $37.62 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 2.07 and a beta of 1.18.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.38 by $0.01. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The firm had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. During the same period in the prior year, the business posted $1.34 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. Research analysts expect that Sysco Co. will post 4.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on SYY shares. UBS Group dropped their price objective on shares of Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Piper Sandler dropped their price objective on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Bank of America decreased their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. BMO Capital Markets decreased their target price on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and an average target price of $85.27.

Sysco Profile

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.