Aigen Investment Management LP Makes New $2.99 Million Investment in Sysco Corporation (NYSE:SYY)

Key Points

• Aigen Investment Management LP invested approximately $2.99 million in Sysco Corporation by acquiring 39,789 shares of the company in the first quarter.
• Insider transactions include EVP Ronald L. Phillips selling 37,606 shares and EVP Greg D. Bertrand selling 40,000 shares, indicating significant reductions in their ownership.
• Sysco's stock has a current market capitalization of $39.09 billion and recently reported earnings of $1.48 per share, exceeding analysts' expectations.

Aigen Investment Management LP acquired a new stake in Sysco Corporation (NYSE:SYY - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 39,789 shares of the company's stock, valued at approximately $2,986,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. NorthCrest Asset Manangement LLC increased its stake in shares of Sysco by 4.9% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 2,956 shares of the company's stock worth $226,000 after acquiring an additional 139 shares during the last quarter. Golden State Wealth Management LLC increased its stake in shares of Sysco by 48.4% in the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock worth $32,000 after acquiring an additional 140 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of Sysco by 1.6% in the 1st quarter. Chicago Partners Investment Group LLC now owns 8,898 shares of the company's stock worth $627,000 after acquiring an additional 143 shares during the last quarter. One Wealth Advisors LLC increased its stake in shares of Sysco by 3.3% in the 1st quarter. One Wealth Advisors LLC now owns 4,698 shares of the company's stock worth $353,000 after acquiring an additional 151 shares during the last quarter. Finally, Lcnb Corp increased its stake in shares of Sysco by 2.9% in the 1st quarter. Lcnb Corp now owns 5,985 shares of the company's stock worth $449,000 after acquiring an additional 166 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.

Sysco Trading Up 1.1%

Sysco stock traded up $0.90 during midday trading on Tuesday, reaching $80.77. 2,512,032 shares of the stock traded hands, compared to its average volume of 3,397,027. The company has a 50-day simple moving average of $77.21 and a two-hundred day simple moving average of $73.99. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $82.23. The firm has a market cap of $39.15 billion, a PE ratio of 21.65, a price-to-earnings-growth ratio of 2.47 and a beta of 0.83. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75.

Sysco (NYSE:SYY - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.09. Sysco had a return on equity of 109.52% and a net margin of 2.25%. The company had revenue of $21.14 billion during the quarter, compared to analysts' expectations of $21.01 billion. During the same period last year, the business posted $1.39 EPS. Sysco's revenue for the quarter was up 2.8% on a year-over-year basis. Research analysts expect that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SYY has been the subject of a number of recent research reports. Wall Street Zen downgraded Sysco from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. BMO Capital Markets lowered their price target on Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Citigroup began coverage on Sysco in a report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 price target for the company. Truist Financial increased their price target on Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Finally, Bank of America increased their price target on Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Sysco presently has a consensus rating of "Moderate Buy" and a consensus target price of $85.69.

Insider Transactions at Sysco

In other news, EVP Ronald L. Phillips sold 37,606 shares of Sysco stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total value of $3,046,086.00. Following the completion of the transaction, the executive vice president owned 30,235 shares in the company, valued at approximately $2,449,035. This trade represents a 55.43% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total value of $3,200,000.00. Following the completion of the transaction, the executive vice president owned 56,304 shares of the company's stock, valued at $4,504,320. The trade was a 41.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,740 shares of company stock valued at $6,256,893 over the last 90 days. 0.54% of the stock is currently owned by company insiders.

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.