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

Truvestments Capital LLC increased its holdings in Sysco Co. (NYSE:SYY) by 140.3% in the 1st quarter, HoldingsChannel reports. 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 SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Capital World Investors raised its holdings in shares of Sysco by 17.5% during the first quarter. Capital World Investors now owns 10,984,950 shares of the company’s stock valued at $891,758,000 after buying an additional 1,637,232 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Sysco by 112.8% in the first quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock valued at $536,770,000 after buying an additional 3,504,740 shares in the last quarter. Norges Bank acquired a new stake in shares of Sysco during the 4th quarter valued at $450,794,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Sysco by 132.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,653,446 shares of the company’s stock valued at $267,177,000 after purchasing an additional 2,084,501 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Sysco by 8.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,036,100 shares of the company’s stock worth $222,029,000 after purchasing an additional 240,671 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Barclays reduced their price objective on shares of Sysco from $88.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Guggenheim raised shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Tuesday, May 28th. BMO Capital Markets decreased their target price on Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Finally, Morgan Stanley decreased their target price on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.00.

Sysco Stock Up 1.0 %

Shares of NYSE SYY traded up $0.73 during trading hours on Friday, hitting $72.85. The stock had a trading volume of 3,196,592 shares, compared to its average volume of 2,946,025. The company has a market capitalization of $36.28 billion, a P/E ratio of 17.77, a P/E/G ratio of 1.96 and a beta of 1.18. The firm’s 50-day moving average price is $72.27 and its two-hundred day moving average price is $76.08. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.77 and a current ratio of 1.34.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.95 by $0.01. The business had revenue of $19.38 billion during the quarter, compared to analysts’ expectations of $19.74 billion. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.90 EPS. Analysts anticipate that Sysco Co. will post 4.3 EPS for the current fiscal 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.