LRI Investments LLC Purchases Shares of 591 Sysco Co. (NYSE:SYY)

LRI Investments LLC bought a new position in Sysco Co. (NYSE:SYY) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 591 shares of the company’s stock, valued at approximately $45,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Truvestments Capital LLC boosted its holdings in shares of Sysco by 140.3% in the first quarter. Truvestments Capital LLC now owns 930 shares of the company’s stock worth $76,000 after buying an additional 543 shares during the period. Stonebridge Capital Advisors LLC boosted its stake in Sysco by 1.4% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 39,357 shares of the company’s stock worth $3,195,000 after purchasing an additional 527 shares during the period. Capital World Investors boosted its stake in Sysco by 17.5% in the 1st quarter. Capital World Investors now owns 10,984,950 shares of the company’s stock worth $891,758,000 after purchasing an additional 1,637,232 shares during the period. Capital Research Global Investors grew its position in Sysco by 112.8% during the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock worth $536,770,000 after purchasing an additional 3,504,740 shares in the last quarter. Finally, Capital International Inc. CA lifted its holdings in shares of Sysco by 24.6% in the first quarter. Capital International Inc. CA now owns 43,607 shares of the company’s stock valued at $3,540,000 after purchasing an additional 8,596 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SYY has been the subject of a number of research analyst reports. Truist Financial reduced their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Bank of America cut their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Piper Sandler lowered their target price on Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Barclays cut their price target on Sysco from $88.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Finally, Guggenheim raised Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a research note on Tuesday, May 28th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

Sysco Stock Performance

Shares of NYSE:SYY traded up $0.73 during trading on Friday, reaching $72.85. The stock had a trading volume of 3,196,592 shares, compared to its average volume of 2,946,025. The stock has a fifty day simple moving average of $72.27 and a two-hundred day simple moving average of $76.08. The company has a quick ratio of 0.77, a current ratio of 1.34 and a debt-to-equity ratio of 5.77. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The firm has a market capitalization of $36.28 billion, a price-to-earnings ratio of 17.77, a P/E/G 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. The firm had revenue of $19.38 billion during the quarter, compared to analyst estimates of $19.74 billion. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The business’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 EPS. As a group, analysts anticipate that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

Sysco Company 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.