Sysco Co. (NYSE:SYY) Position Lifted by Plato Investment Management Ltd

Plato Investment Management Ltd raised its stake in shares of Sysco Co. (NYSE:SYY) by 15,811.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,024 shares of the company’s stock after acquiring an additional 9,961 shares during the quarter. Plato Investment Management Ltd’s holdings in Sysco were worth $814,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC boosted its stake in Sysco by 1.8% during the 4th quarter. Chicago Partners Investment Group LLC now owns 7,150 shares of the company’s stock valued at $536,000 after acquiring an additional 124 shares during the last quarter. Hunter Associates Investment Management LLC boosted its stake in Sysco by 1.5% during the 4th quarter. Hunter Associates Investment Management LLC now owns 8,275 shares of the company’s stock valued at $606,000 after acquiring an additional 125 shares during the last quarter. Bell Investment Advisors Inc boosted its stake in Sysco by 8.2% during the 4th quarter. Bell Investment Advisors Inc now owns 1,722 shares of the company’s stock valued at $126,000 after acquiring an additional 131 shares during the last quarter. Beacon Investment Advisors LLC boosted its stake in Sysco by 0.5% during the 4th quarter. Beacon Investment Advisors LLC now owns 24,680 shares of the company’s stock valued at $1,805,000 after acquiring an additional 133 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. raised its holdings in shares of Sysco by 6.4% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 2,246 shares of the company’s stock worth $165,000 after purchasing an additional 135 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SYY. Piper Sandler dropped their target price on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. UBS Group dropped their target price on shares of Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Barclays increased their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday. Morgan Stanley dropped their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Finally, 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 report on Tuesday, May 28th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $85.27.

Sysco Price Performance

Shares of SYY stock traded up $0.49 during midday trading on Friday, reaching $76.30. 1,743,446 shares of the company were exchanged, compared to its average volume of 3,134,580. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89. The company has a market cap of $38.00 billion, a P/E ratio of 18.45, a PEG ratio of 2.06 and a beta of 1.18. The company’s 50 day moving average price is $72.39 and its two-hundred day moving average price is $76.07. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.77 and a current ratio of 1.20.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company had revenue of $20.56 billion for the quarter, compared to the consensus estimate of $20.51 billion. During the same period in the previous year, the firm earned $1.34 EPS. Sysco’s revenue was up 4.2% on a year-over-year basis. On average, sell-side analysts expect that Sysco Co. will post 4.59 earnings per share for the current year.

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.