Jefferies Financial Group Inc. Acquires Shares of 4,253 Sysco Corporation (NYSE:SYY)

Key Points

• Jefferies Financial Group Inc. has made a new investment in Sysco Corporation, acquiring 4,253 shares valued at approximately $319,000 during the first quarter.
• A significant majority of Sysco's stock, 83.41%, is currently held by institutional investors and hedge funds, indicating strong institutional interest in the company.
• Sysco's recent quarterly earnings surpassed expectations, reporting $1.48 EPS, and the company also saw a year-over-year revenue increase of 2.8%.

Jefferies Financial Group Inc. acquired a new stake in Sysco Corporation (NYSE:SYY - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,253 shares of the company's stock, valued at approximately $319,000.

Other large investors have also bought and sold shares of the company. Rialto Wealth Management LLC boosted its stake in 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 stake in shares of Sysco during the fourth quarter valued at about $29,000. Golden State Wealth Management LLC boosted its stake in shares of Sysco by 48.4% during the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after purchasing an additional 140 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Sysco in the first quarter valued at approximately $33,000. Finally, Capital A Wealth Management LLC acquired a new position in shares of Sysco in the fourth quarter valued at approximately $34,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Trading Up 0.8%

SYY traded up $0.63 during trading on Tuesday, hitting $80.50. The company's stock had a trading volume of 375,749 shares, compared to its average volume of 3,334,986. The firm has a market capitalization of $39.02 billion, a P/E ratio of 21.59, a PEG ratio of 2.50 and a beta of 0.83. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $82.23. The stock's fifty day moving average price is $77.07 and its 200-day moving average price is $73.94. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75.

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

Insider Buying and Selling

In other Sysco news, EVP Greg D. Bertrand sold 40,000 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total transaction 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. This represents a 41.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ronald L. Phillips sold 37,606 shares of the stock in a transaction that occurred on 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 owned 30,235 shares in the company, valued at $2,449,035. The trade was a 55.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SYY. Bank of America upped 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. UBS Group set a $90.00 price objective on Sysco in a research note on Wednesday, July 30th. BMO Capital Markets lowered their price objective on Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Barclays upped their price objective on Sysco from $77.00 to $82.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Finally, Truist Financial upped their price objective on Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, Sysco 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.