EagleClaw Capital Managment LLC Boosts Stake in Sysco Corporation (NYSE:SYY)

Key Points

• EagleClaw Capital Management LLC significantly increased its stake in Sysco Corporation by 1,353.6%, owning 39,975 shares valued at $3 million as of the most recent quarter.
• Several other institutional investors have also boosted their holdings in Sysco, with hedge funds now owning 83.41% of the company's stock.
• Recent insider selling has occurred, with two executive vice presidents selling a combined 77,606 shares in July, which indicates potential shifts in management confidence about the stock.

EagleClaw Capital Managment LLC boosted its stake in Sysco Corporation (NYSE:SYY - Free Report) by 1,353.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 39,975 shares of the company's stock after purchasing an additional 37,225 shares during the period. EagleClaw Capital Managment LLC's holdings in Sysco were worth $3,000,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC grew its stake in shares of Sysco by 188.7% in the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock valued at $25,000 after buying an additional 217 shares in the last quarter. Parvin Asset Management LLC acquired a new position in Sysco during the 4th quarter worth about $29,000. Golden State Wealth Management LLC boosted its holdings in 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 period. N.E.W. Advisory Services LLC acquired a new position in Sysco in the 1st quarter valued at about $33,000. Finally, Capital A Wealth Management LLC acquired a new position in Sysco in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 83.41% of the company's stock.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 37,606 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were 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 $2,449,035. This represents a 55.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total value of $3,200,000.00. Following the transaction, the executive vice president directly owned 56,304 shares in the company, valued at approximately $4,504,320. The trade was a 41.54% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company's stock.

Sysco Trading Down 0.7%

SYY opened at $79.55 on Friday. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.76 and a current ratio of 1.21. Sysco Corporation has a one year low of $67.12 and a one year high of $82.23. The company has a market cap of $38.56 billion, a P/E ratio of 21.33, a PEG ratio of 2.46 and a beta of 0.81. The business's 50-day simple moving average is $75.96 and its 200-day simple moving average is $73.63.

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

Wall Street Analysts Forecast Growth

SYY has been the topic of several research reports. Wall Street Zen cut shares of Sysco from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. JPMorgan Chase & Co. raised 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. Sanford C. Bernstein set a $87.00 price target on shares of Sysco and gave the stock an "overweight" rating in a research note on Tuesday, April 22nd. Bank of America increased their price objective on Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Finally, Truist Financial boosted their target price on Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $85.54.

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.

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