Waycross Partners LLC Grows Stock Holdings in Sysco Corporation (NYSE:SYY)

Key Points

• Waycross Partners LLC increased its stake in Sysco Corporation by 26.3%, owning 293,352 shares after adding 61,027 shares in the first quarter.
• In recent trading, Sysco's stock price has seen a slight increase, opening at $81.35, with a market capitalization of $39.44 billion.
• Analysts have raised price targets for Sysco, with Barclays setting a new target of $82.00 and UBS Group targeting $90.00, reflecting a positive outlook on the stock.

Waycross Partners LLC grew its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 26.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 293,352 shares of the company's stock after buying an additional 61,027 shares during the period. Sysco makes up 2.5% of Waycross Partners LLC's portfolio, making the stock its 20th biggest position. Waycross Partners LLC owned approximately 0.06% of Sysco worth $22,013,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NorthCrest Asset Manangement LLC increased its position in shares of Sysco by 4.9% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 2,956 shares of the company's stock worth $226,000 after acquiring an additional 139 shares in the last quarter. Golden State Wealth Management LLC increased its position 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 worth $32,000 after acquiring an additional 140 shares in the last quarter. Chicago Partners Investment Group LLC increased its position in shares of Sysco by 1.6% during the first quarter. Chicago Partners Investment Group LLC now owns 8,898 shares of the company's stock worth $627,000 after acquiring an additional 143 shares in the last quarter. One Wealth Advisors LLC increased its position in shares of Sysco by 3.3% during the first quarter. One Wealth Advisors LLC now owns 4,698 shares of the company's stock worth $353,000 after acquiring an additional 151 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its position in shares of Sysco by 17.4% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,142 shares of the company's stock worth $86,000 after acquiring an additional 169 shares in the last quarter. Institutional investors own 83.41% of the company's stock.

Sysco Trading Down 1.5%

Sysco stock traded down $1.17 during trading hours on Monday, reaching $79.48. The stock had a trading volume of 1,200,029 shares, compared to its average volume of 3,339,490. The stock has a market cap of $38.53 billion, a PE ratio of 21.32, a PEG ratio of 2.50 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 current ratio of 1.21 and a quick ratio of 0.70. The company has a fifty day simple moving average of $76.94 and a 200-day simple moving average of $73.91.

Sysco (NYSE:SYY - Get Free Report) last announced 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 business had revenue of $21.14 billion for the quarter, compared to analyst estimates of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The company's revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.39 EPS. Analysts forecast that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SYY has been the subject of several recent research reports. BMO Capital Markets decreased their target price on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Wells Fargo & Company set a $88.00 target price on shares of Sysco and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Bank of America upped their price objective on shares of Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Guggenheim upped their price objective on shares of Sysco from $85.00 to $87.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Finally, Barclays upped their price objective on shares of Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Sysco presently has a consensus rating of "Moderate Buy" and a consensus target price of $85.69.

Insider Transactions at Sysco

In related news, EVP Greg D. Bertrand sold 40,000 shares of the business's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the sale, the executive vice president owned 56,304 shares of the company's stock, valued at $4,504,320. The trade was a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ronald L. Phillips sold 37,606 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the sale, the executive vice president directly owned 30,235 shares in the company, valued at $2,449,035. The trade was a 55.43% decrease in their position. 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.