Stevens Capital Management LP Acquires Shares of 9,733 Sysco Corporation (NYSE:SYY)

Key Points

• Stevens Capital Management LP has invested approximately $730,000 in Sysco Corporation, acquiring around 9,733 shares during the first quarter.
• Sysco reported earnings of $0.96 per share for the last quarter, missing analysts' expectations, with revenues of $19.60 billion compared to a forecast of $20.11 billion.
• Analyst ratings for Sysco have varied, with Bank of America raising the price target to $93.00 while other companies have adjusted their targets downward, reflecting mixed sentiment around the stock.

Stevens Capital Management LP bought a new position in shares of Sysco Corporation (NYSE:SYY - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 9,733 shares of the company's stock, valued at approximately $730,000.

Several other institutional investors also recently modified their holdings of SYY. LPL Financial LLC grew its position in shares of Sysco by 1.8% during the 4th quarter. LPL Financial LLC now owns 501,726 shares of the company's stock worth $38,362,000 after buying an additional 9,012 shares during the period. Congress Wealth Management LLC DE lifted its holdings in shares of Sysco by 7.3% during the 4th quarter. Congress Wealth Management LLC DE now owns 12,021 shares of the company's stock valued at $866,000 after purchasing an additional 813 shares in the last quarter. Modern Wealth Management LLC lifted its holdings in shares of Sysco by 12.0% during the 4th quarter. Modern Wealth Management LLC now owns 10,552 shares of the company's stock valued at $741,000 after purchasing an additional 1,133 shares in the last quarter. Zions Bancorporation N.A. lifted its holdings in shares of Sysco by 12.8% during the 4th quarter. Zions Bancorporation N.A. now owns 1,591 shares of the company's stock valued at $122,000 after purchasing an additional 180 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Sysco by 13.2% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 346,192 shares of the company's stock valued at $26,470,000 after purchasing an additional 40,281 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Sysco

In related news, Director Sheila Talton sold 356 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total value of $25,219.04. Following the sale, the director owned 12,738 shares in the company, valued at approximately $902,359.92. This represents a 2.72% decrease in their position. The transaction 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 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 sale, the executive vice president owned 30,235 shares in the company, valued at approximately $2,449,035. This trade represents a 55.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,962 shares of company stock worth $6,271,305. Company insiders own 0.54% of the company's stock.

Sysco Stock Down 2.3%

Shares of Sysco stock traded down $1.84 on Tuesday, reaching $78.52. 3,692,554 shares of the company were exchanged, compared to its average volume of 3,315,691. Sysco Corporation has a one year low of $67.12 and a one year high of $82.23. The company has a market capitalization of $38.06 billion, a price-to-earnings ratio of 20.34, a PEG ratio of 2.37 and a beta of 0.81. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 6.37. The company has a 50-day moving average of $75.55 and a 200 day moving average of $73.51.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.40 by $0.08. Sysco had a return on equity of 107.96% and a net margin of 2.36%. During the same quarter in the previous year, the company posted $1.39 EPS. The company's revenue for the quarter was up 2.8% on a year-over-year basis. On average, equities research analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SYY. Bank of America lifted their price objective on Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a report on Friday, July 18th. Wall Street Zen cut Sysco from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Morgan Stanley boosted their target price on Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Citigroup assumed coverage on Sysco in a research note on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 target price on the stock. Finally, Wells Fargo & Company cut their target price on Sysco from $87.00 to $80.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $83.85.

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.