Arjuna Capital Invests $1.29 Million in Sysco Corporation (NYSE:SYY)

Key Points

• Arjuna Capital has initiated a new position in Sysco Corporation, acquiring 17,141 shares for approximately $1.286 million in the 1st quarter.
• Sysco reported an EPS of $1.48 for the latest quarter, exceeding analysts' expectations, with revenues of $21.14 billion.
• Analysts have set a consensus price target of $85.69 for Sysco, with ratings indicating a general sentiment of a "Moderate Buy."

Arjuna Capital bought a new stake in shares of Sysco Corporation (NYSE:SYY - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 17,141 shares of the company's stock, valued at approximately $1,286,000.

Several other hedge funds have also bought and sold shares of the stock. Boyd Watterson Asset Management LLC OH increased its stake in shares of Sysco by 106.4% in the first quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company's stock worth $236,000 after buying an additional 1,622 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Sysco by 2.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 223,510 shares of the company's stock worth $16,772,000 after buying an additional 4,932 shares during the last quarter. Fiduciary Trust Co boosted its holdings in shares of Sysco by 0.3% during the 4th quarter. Fiduciary Trust Co now owns 66,495 shares of the company's stock valued at $5,084,000 after acquiring an additional 196 shares during the last quarter. Dynamic Advisor Solutions LLC purchased a new stake in shares of Sysco during the 1st quarter valued at about $202,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Sysco by 48.4% during the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after acquiring an additional 140 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.

Insider Transactions at Sysco

In other news, EVP Ronald L. Phillips sold 37,606 shares of the firm's 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 transaction, the executive vice president directly owned 30,235 shares in the company, valued at $2,449,035. This trade represents a 55.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the 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 sale, the executive vice president owned 56,304 shares of the company's stock, valued at approximately $4,504,320. This trade represents a 41.54% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.

Sysco Price Performance

Shares of SYY traded down $1.11 during trading hours on Monday, reaching $79.54. 1,200,029 shares of the company traded hands, compared to its average volume of 3,339,490. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. The stock has a market capitalization of $38.56 billion, a PE ratio of 21.32, a price-to-earnings-growth ratio of 2.50 and a beta of 0.83. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The stock has a fifty day simple moving average of $76.94 and a 200 day simple moving average of $73.91.

Sysco (NYSE:SYY - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.09. Sysco had a return on equity of 109.52% and a net margin of 2.25%. The firm had revenue of $21.14 billion for the quarter, compared to the consensus estimate of $21.01 billion. During the same period in the prior year, the business posted $1.39 earnings per share. The firm's revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, research analysts predict that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on SYY shares. Truist Financial boosted their target price on shares of Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Guggenheim upped their price target on shares of Sysco from $85.00 to $87.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Morgan Stanley upped their price objective on shares of Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. increased their price target on shares of Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Finally, Barclays upped their price objective on shares of Sysco from $77.00 to $82.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $85.69.

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.