R Squared Ltd Buys New Shares in Sysco Corporation (NYSE:SYY)

Key Points

• R Squared Ltd invested approximately $374,000 in Sysco Corporation by purchasing 4,980 shares during the first quarter.
• Several institutional investors have recently changed their stakes in Sysco; notable increases include a 188.7% boost by Rialto Wealth Management LLC.
• Sysco's recent earnings report showed $1.48 earnings per share, surpassing analyst estimates, with a revenue of $21.14 billion for the quarter.

R Squared Ltd bought a new stake in Sysco Corporation (NYSE:SYY - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,980 shares of the company's stock, valued at approximately $374,000.

Several other institutional investors have also recently made changes to their positions in the stock. Boyd Watterson Asset Management LLC OH boosted its stake in Sysco by 106.4% in the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company's stock valued at $236,000 after purchasing an additional 1,622 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Sysco by 2.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 223,510 shares of the company's stock valued at $16,772,000 after purchasing an additional 4,932 shares during the period. Fiduciary Trust Co boosted its stake in Sysco by 0.3% in the 4th quarter. Fiduciary Trust Co now owns 66,495 shares of the company's stock valued at $5,084,000 after purchasing an additional 196 shares during the period. Dynamic Advisor Solutions LLC bought a new stake in Sysco in the 1st quarter valued at $202,000. Finally, Golden State Wealth Management LLC lifted its position 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 period. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Stock Down 0.5%

Shares of SYY traded down $0.43 during mid-day trading on Monday, reaching $79.45. The company had a trading volume of 2,092,855 shares, compared to its average volume of 2,998,396. The company has a market capitalization of $38.51 billion, a price-to-earnings ratio of 17.91, a price-to-earnings-growth ratio of 2.47 and a beta of 0.83. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $82.23. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. The firm has a 50-day moving average price of $76.12 and a 200 day moving average price of $73.67.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate 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 was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.39 EPS. On average, sell-side analysts forecast that Sysco Corporation will post 4.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Guggenheim boosted their price target on Sysco from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday. Barclays upped their target price on Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Truist Financial upped their target price on Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Wall Street Zen cut Sysco from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Finally, Bank of America increased their price target on Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Sysco has an average rating of "Moderate Buy" and a consensus price target of $85.54.

Insider Activity

In related news, EVP Greg D. Bertrand sold 40,000 shares of the firm'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 sale, the executive vice president directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ronald L. Phillips sold 37,606 shares of the firm's 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 sale, the executive vice president directly owned 30,235 shares of the company's stock, valued at $2,449,035. This represents a 55.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company's stock.

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.