Edgestream Partners L.P. Has $2.04 Million Position in Sysco Corporation $SYY

Key Points

• Edgestream Partners reduced its Sysco stake by 72% in the first quarter, selling 73,599 shares and retaining 28,637 shares valued at approximately $2.04 million. Institutional investors and hedge funds collectively own 83.41% of Sysco.
• Sysco director John M. Hinshaw purchased 13,304 shares worth about $1 million, increasing his position by 49.46%; corporate insiders own 0.56% of the company.
• Analyst sentiment is mixed but leans neutral: Sysco has a consensus “Hold” rating and an $88 price target, while shares recently traded at $85.31.

Edgestream Partners L.P. cut its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 72.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,637 shares of the company's stock after selling 73,599 shares during the period. Edgestream Partners L.P.'s holdings in Sysco were worth $2,043,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Lloyd Advisory Services LLC. acquired a new stake in Sysco during the fourth quarter worth approximately $25,000. Motiv8 Investments LLC acquired a new position in Sysco in the fourth quarter valued at approximately $25,000. Sunbelt Securities Inc. boosted its holdings in shares of Sysco by 87.6% during the 1st quarter. Sunbelt Securities Inc. now owns 364 shares of the company's stock worth $26,000 after buying an additional 170 shares in the last quarter. Torren Management LLC bought a new position in shares of Sysco during the 4th quarter worth approximately $27,000. Finally, Bard Associates Inc. acquired a new stake in shares of Sysco during the 4th quarter worth approximately $27,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Sysco news, Director John M. Hinshaw purchased 13,304 shares of Sysco stock in a transaction that occurred on Tuesday, May 26th. The stock was acquired at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the transaction, the director owned 40,200 shares in the company, valued at $3,021,834. This trade represents a 49.46% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SYY has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft lowered shares of Sysco from a "buy" rating to a "hold" rating and set a $84.00 price objective for the company. in a research note on Tuesday, April 28th. Sanford C. Bernstein cut their target price on shares of Sysco from $90.00 to $85.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 29th. Wall Street Zen cut shares of Sysco from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Piper Sandler decreased their price target on shares of Sysco from $83.00 to $77.00 and set a "neutral" rating for the company in a research note on Tuesday, April 7th. Finally, Citigroup reiterated a "neutral" rating on shares of Sysco in a report on Wednesday, July 22nd. Eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $88.00.

Sysco Trading Up 0.1%

Shares of Sysco stock opened at $85.31 on Monday. The stock has a market capitalization of $40.84 billion, a PE ratio of 23.63, a price-to-earnings-growth ratio of 3.36 and a beta of 0.64. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85. The stock has a 50 day moving average price of $80.46 and a two-hundred day moving average price of $80.18. The company has a debt-to-equity ratio of 5.58, a quick ratio of 0.80 and a current ratio of 1.33.

About Sysco

Sysco Corporation NYSE: SYY is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.

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