Lazard Asset Management LLC grew its holdings in shares of Sysco Corporation (NYSE:SYY – Free Report) by 90.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,453 shares of the company’s stock after buying an additional 77,594 shares during the quarter. Lazard Asset Management LLC’s holdings in Sysco were worth $11,659,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Intech Investment Management LLC boosted its holdings in Sysco by 53.1% during the first quarter. Intech Investment Management LLC now owns 22,310 shares of the company’s stock worth $1,674,000 after purchasing an additional 7,742 shares during the last quarter. Schnieders Capital Management LLC. boosted its stake in shares of Sysco by 24.1% in the 2nd quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company’s stock worth $781,000 after buying an additional 2,000 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Sysco by 62.4% in the 2nd quarter. NewEdge Advisors LLC now owns 35,447 shares of the company’s stock worth $2,685,000 after buying an additional 13,616 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Sysco by 14.2% in the second quarter. Sei Investments Co. now owns 344,504 shares of the company’s stock valued at $26,092,000 after acquiring an additional 42,903 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its position in shares of Sysco by 0.8% during the 2nd quarter. Treasurer of the State of North Carolina now owns 226,648 shares of the company’s stock valued at $17,166,000 after purchasing an additional 1,710 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.
Sysco Price Performance
Shares of SYY stock opened at $85.38 on Thursday. The company has a debt-to-equity ratio of 5.58, a quick ratio of 0.80 and a current ratio of 1.33. Sysco Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85. The firm has a market cap of $40.87 billion, a P/E ratio of 23.65, a P/E/G ratio of 3.36 and a beta of 0.64. The business’s 50 day moving average price is $80.13 and its 200-day moving average price is $80.03.
Insider Transactions at Sysco
In related news, Director John M. Hinshaw acquired 13,304 shares of the stock in a transaction on Tuesday, May 26th. The stock was acquired at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the completion of the acquisition, the director directly owned 40,200 shares of the company’s stock, valued at approximately $3,021,834. This represents a 49.46% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
SYY has been the topic of several research analyst reports. Sanford C. Bernstein dropped their price objective on Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 29th. Morgan Stanley raised their price target on shares of Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Wall Street Zen lowered shares of Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Piper Sandler decreased their price target on shares of Sysco from $83.00 to $77.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a report on Tuesday, April 28th. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Sysco has an average rating of “Hold” and a consensus price target of $88.00.
View Our Latest Analysis on SYY
Sysco Company Profile
Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.
Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.
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