Shell Asset Management Co. Purchases 9,615 Shares of Sysco Co. (NYSE:SYY)

Shell Asset Management Co. increased its position in shares of Sysco Co. (NYSE:SYY) by 205.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 14,305 shares of the company’s stock after purchasing an additional 9,615 shares during the period. Shell Asset Management Co.’s holdings in Sysco were worth $1,161,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Harbour Trust & Investment Management Co purchased a new stake in shares of Sysco in the 4th quarter worth approximately $4,623,000. Pacer Advisors Inc. increased its holdings in shares of Sysco by 40.1% in the 4th quarter. Pacer Advisors Inc. now owns 82,239 shares of the company’s stock valued at $6,014,000 after acquiring an additional 23,558 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Sysco by 16.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 298,982 shares of the company’s stock worth $21,865,000 after acquiring an additional 41,618 shares in the last quarter. Bridgefront Capital LLC purchased a new stake in shares of Sysco during the 4th quarter worth $841,000. Finally, Nebula Research & Development LLC bought a new stake in Sysco during the fourth quarter valued at about $916,000. 83.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SYY has been the subject of a number of recent research reports. Barclays reduced their target price on shares of Sysco from $88.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Truist Financial reduced their price target on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. JPMorgan Chase & Co. dropped their target price on Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. Finally, UBS Group decreased their price target on Sysco from $92.00 to $87.00 and set a “buy” 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Sysco Stock Performance

Shares of Sysco stock traded up $0.90 on Friday, reaching $73.02. 571,455 shares of the stock were exchanged, compared to its average volume of 3,075,176. The business has a 50 day moving average price of $72.33 and a two-hundred day moving average price of $76.09. The firm has a market capitalization of $36.36 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 1.91 and a beta of 1.18. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89. 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 (NYSE:SYY) last announced its quarterly earnings data 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 net margin of 2.66% and a return on equity of 99.88%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.90 EPS. Analysts anticipate that Sysco Co. will post 4.3 earnings per share 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.