PGGM Investments Makes New $246,000 Investment in Sysco Co. (NYSE:SYY)

PGGM Investments purchased a new position in shares of Sysco Co. (NYSE:SYY) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,452 shares of the company’s stock, valued at approximately $246,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ORG Partners LLC raised its stake in shares of Sysco by 3,159.0% during the 2nd quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock valued at $495,000 after buying an additional 6,855 shares during the last quarter. V Square Quantitative Management LLC raised its stake in shares of Sysco by 8.4% during the 2nd quarter. V Square Quantitative Management LLC now owns 5,019 shares of the company’s stock valued at $358,000 after buying an additional 391 shares during the last quarter. Wedmont Private Capital increased its stake in shares of Sysco by 39.1% in the 2nd quarter. Wedmont Private Capital now owns 6,429 shares of the company’s stock valued at $464,000 after purchasing an additional 1,807 shares in the last quarter. Dynamic Advisor Solutions LLC increased its stake in shares of Sysco by 11.7% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 5,183 shares of the company’s stock valued at $370,000 after purchasing an additional 541 shares in the last quarter. Finally, Park National Corp OH increased its stake in shares of Sysco by 27.7% in the 2nd quarter. Park National Corp OH now owns 21,093 shares of the company’s stock valued at $1,506,000 after purchasing an additional 4,575 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on SYY. Bank of America cut their price target on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Barclays boosted their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Truist Financial cut their price objective on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, June 24th. BMO Capital Markets cut their price objective on Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. Finally, UBS Group lowered their target price on Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. 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 MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.27.

Sysco Trading Up 0.8 %

NYSE SYY traded up $0.64 on Wednesday, reaching $76.01. The stock had a trading volume of 2,983,930 shares, compared to its average volume of 3,123,874. The firm has a market capitalization of $37.85 billion, a price-to-earnings ratio of 18.54, a P/E/G ratio of 1.97 and a beta of 1.18. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89. The stock has a fifty day moving average price of $72.94 and a two-hundred day moving average price of $76.10.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The company had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. During the same quarter in the previous year, the company earned $1.34 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Sysco Co. will post 4.6 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.