Mondrian Investment Partners LTD Has $140.63 Million Stock Holdings in Sysco Corporation (NYSE:SYY)

Key Points

• Mondrian Investment Partners LTD increased its stake in Sysco Corporation by 10.3% during the first quarter, bringing its total holdings to approximately $140.6 million.
• Other hedge funds, including Capital Research Global Investors and Canoe Financial LP, also significantly raised their positions in Sysco, indicating increased institutional interest in the stock.
• Sysco reported earnings of $1.48 per share for the last quarter, surpassing expectations, with a projected consensus EPS of 4.58 for the current year.

Mondrian Investment Partners LTD lifted its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 10.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,874,125 shares of the company's stock after buying an additional 174,621 shares during the quarter. Sysco accounts for approximately 2.4% of Mondrian Investment Partners LTD's holdings, making the stock its 12th largest holding. Mondrian Investment Partners LTD owned about 0.39% of Sysco worth $140,634,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Rialto Wealth Management LLC grew its holdings in Sysco by 188.7% during the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock valued at $25,000 after purchasing an additional 217 shares in the last quarter. Parvin Asset Management LLC acquired a new stake in Sysco during the 4th quarter valued at $29,000. Golden State Wealth Management LLC grew 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 purchasing an additional 140 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new position in Sysco in the first quarter valued at about $33,000. Finally, Capital A Wealth Management LLC purchased a new position in Sysco in the fourth quarter valued at about $34,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Price Performance

Shares of SYY traded down $1.71 during trading hours on Friday, hitting $79.49. 3,936,783 shares of the company were exchanged, compared to its average volume of 3,350,089. The company has a market capitalization of $38.53 billion, a PE ratio of 21.31, a PEG ratio of 2.55 and a beta of 0.83. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70. The firm has a fifty day simple moving average of $77.55 and a 200-day simple moving average of $74.08. Sysco Corporation has a one year low of $67.12 and a one year high of $82.64.

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. The business had revenue of $21.14 billion for the quarter, compared to the consensus estimate of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The firm's quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the firm posted $1.39 earnings per share. As a group, sell-side analysts predict that Sysco Corporation will post 4.58 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Ronald L. Phillips sold 6,286 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $81.00, for a total transaction of $509,166.00. Following the sale, the executive vice president directly owned 34,404 shares of the company's stock, valued at $2,786,724. This represents a 15.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Greg D. Bertrand sold 40,000 shares of the business's 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 completion of the transaction, the executive vice president owned 56,304 shares of the company's stock, valued at $4,504,320. This trade represents a 41.54% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 84,026 shares of company stock worth $6,766,059. 0.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SYY shares. Bank of America increased their price target on Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a report on Friday, July 18th. Truist Financial raised 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. Guggenheim raised their price target on Sysco from $85.00 to $87.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Barclays raised their target price on Sysco from $77.00 to $82.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Finally, UBS Group set a $90.00 target price on Sysco in a research report on Wednesday, July 30th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $85.69.

Sysco 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.