Janus Henderson Group PLC Has $339.92 Million Stake in Sysco Co. (NYSE:SYY)

Janus Henderson Group PLC cut its position in Sysco Co. (NYSE:SYY) by 5.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,187,240 shares of the company’s stock after selling 229,335 shares during the quarter. Janus Henderson Group PLC owned 0.84% of Sysco worth $339,917,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SYY. First United Bank & Trust acquired a new stake in Sysco in the fourth quarter valued at about $26,000. AdvisorNet Financial Inc lifted its holdings in shares of Sysco by 74.0% in the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after acquiring an additional 159 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of Sysco in the 1st quarter valued at approximately $31,000. Burkett Financial Services LLC bought a new stake in shares of Sysco during the 4th quarter valued at approximately $30,000. Finally, Headlands Technologies LLC acquired a new position in Sysco during the 4th quarter worth approximately $34,000. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Up 4.3 %

Shares of SYY traded up $3.18 during trading hours on Tuesday, hitting $76.44. 6,630,609 shares of the stock were exchanged, compared to its average volume of 3,122,646. The business has a 50-day moving average of $72.24 and a 200-day moving average of $76.07. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.77. The firm has a market capitalization of $38.07 billion, a P/E ratio of 17.87, a price-to-earnings-growth ratio of 1.96 and a beta of 1.18.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, topping 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 revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.90 earnings per share. On average, research analysts expect that Sysco Co. will post 4.3 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SYY. Truist Financial cut their target price on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. BMO Capital Markets cut their price objective on Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. Morgan Stanley lowered their target price on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Bank of America cut their price target on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Finally, Piper Sandler lowered their price objective on Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.00.

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.