Sysco Corporation (NYSE:SYY) Shares Acquired by SFE Investment Counsel

SFE Investment Counsel lifted its holdings in shares of Sysco Corporation (NYSE:SYY) by 2.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,565 shares of the company’s stock after buying an additional 171 shares during the period. SFE Investment Counsel’s holdings in Sysco were worth $493,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Invesco Ltd. boosted its stake in Sysco by 5.3% in the 4th quarter. Invesco Ltd. now owns 16,907,541 shares of the company’s stock worth $1,292,751,000 after purchasing an additional 851,441 shares during the period. Geode Capital Management LLC grew its stake in Sysco by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 11,868,965 shares of the company’s stock valued at $905,120,000 after buying an additional 233,885 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Sysco by 27.3% in the fourth quarter. Capital Research Global Investors now owns 8,991,476 shares of the company’s stock valued at $687,488,000 after acquiring an additional 1,928,002 shares in the last quarter. FMR LLC grew its stake in shares of Sysco by 0.8% in the fourth quarter. FMR LLC now owns 7,590,141 shares of the company’s stock valued at $580,342,000 after acquiring an additional 60,059 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. grew its stake in shares of Sysco by 2.0% in the first quarter. Diamond Hill Capital Management Inc. now owns 7,353,551 shares of the company’s stock valued at $551,810,000 after acquiring an additional 146,573 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SYY has been the topic of several analyst reports. Sanford C. Bernstein set a $87.00 price target on Sysco and gave the company an “overweight” rating in a research report on Tuesday, April 22nd. Wells Fargo & Company reduced their price objective on Sysco from $87.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. UBS Group reduced their target price on Sysco from $86.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Citigroup began coverage on Sysco in a research report on Thursday, May 22nd. They issued a “neutral” rating and a $78.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their target price on Sysco from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 20th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.23.

Insider Activity

In related news, Director Sheila Talton sold 356 shares of Sysco stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total value of $25,219.04. Following the sale, the director owned 12,738 shares of the company’s stock, valued at approximately $902,359.92. The trade was a 2.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is owned by corporate insiders.

Sysco Stock Up 0.7%

NYSE SYY opened at $80.78 on Thursday. The business’s fifty day simple moving average is $75.09 and its 200-day simple moving average is $73.40. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 6.37. The firm has a market cap of $39.16 billion, a PE ratio of 20.93, a P/E/G ratio of 2.39 and a beta of 0.81. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $82.23.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.06). The business had revenue of $19.60 billion for the quarter, compared to analyst estimates of $20.11 billion. Sysco had a net margin of 2.36% and a return on equity of 107.96%. Sysco’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.96 EPS. As a group, equities analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current year.

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.