Shell Asset Management Co. Has $1.16 Million Position in Sysco Co. (NYSE:SYY)

Shell Asset Management Co. grew its position in shares of Sysco Co. (NYSE:SYY) by 205.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,305 shares of the company’s stock after purchasing an additional 9,615 shares during the quarter. Shell Asset Management Co.’s holdings in Sysco were worth $1,161,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital World Investors bought a new stake in Sysco during the 4th quarter worth approximately $683,599,000. Norges Bank bought a new stake in shares of Sysco in the fourth quarter worth $450,794,000. The Manufacturers Life Insurance Company increased its holdings in Sysco by 132.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,653,446 shares of the company’s stock valued at $267,177,000 after purchasing an additional 2,084,501 shares during the period. Capital Research Global Investors acquired a new position in Sysco during the 4th quarter worth about $227,241,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Sysco by 8.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,036,100 shares of the company’s stock valued at $222,029,000 after buying an additional 240,671 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SYY has been the subject of a number of analyst reports. BMO Capital Markets lowered their price objective on Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Truist Financial dropped their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Bank of America cut their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft lowered their price objective on Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Finally, Guggenheim upgraded Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a report on Tuesday, May 28th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Sysco Stock Performance

SYY traded up $0.90 during trading hours on Friday, hitting $73.02. The stock had a trading volume of 571,455 shares, compared to its average volume of 3,075,176. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89. The company’s fifty day simple moving average is $72.33 and its 200 day simple moving average is $76.09. The stock has a market cap of $36.36 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 1.91 and a beta of 1.18. The company has a quick ratio of 0.77, a current ratio of 1.34 and a debt-to-equity ratio of 5.77.

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