Sysco Co. (NYSE:SYY) Shares Purchased by Caxton Associates LP

Caxton Associates LP boosted its position in shares of Sysco Co. (NYSE:SYY) by 12.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 18,809 shares of the company’s stock after acquiring an additional 2,143 shares during the quarter. Caxton Associates LP’s holdings in Sysco were worth $1,527,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbour Trust & Investment Management Co acquired a new stake in Sysco during the 4th quarter worth about $4,623,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Sysco by 16.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 298,982 shares of the company’s stock worth $21,865,000 after acquiring an additional 41,618 shares during the period. Bridgefront Capital LLC acquired a new stake in Sysco during the 4th quarter worth about $841,000. Nebula Research & Development LLC acquired a new stake in Sysco during the 4th quarter worth about $916,000. Finally, Artisan Partners Limited Partnership raised its stake in shares of Sysco by 11.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 597,216 shares of the company’s stock valued at $43,674,000 after buying an additional 62,556 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

SYY has been the subject of a number of recent research reports. Piper Sandler reduced their price objective on Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Bank of America reduced their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. UBS Group reduced their price objective on Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. JPMorgan Chase & Co. reduced their price objective on Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Finally, Truist Financial reduced their price objective on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, June 24th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

Sysco Price Performance

SYY stock traded up $3.07 during trading on Tuesday, hitting $76.33. The stock had a trading volume of 3,151,908 shares, compared to its average volume of 3,097,361. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.77. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89. The stock has a market capitalization of $38.01 billion, a P/E ratio of 17.87, a PEG ratio of 1.96 and a beta of 1.18. The company’s 50-day moving average price is $72.24 and its two-hundred day moving average price is $76.07.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.01. The business had revenue of $19.38 billion for the quarter, compared to analysts’ expectations of $19.74 billion. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.90 EPS. As a group, research analysts predict that Sysco Co. will post 4.3 EPS for the current fiscal year.

About Sysco

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.