Kiltearn Partners LLP Has $20.48 Million Holdings in Sysco Co. (NYSE:SYY)

Kiltearn Partners LLP raised its holdings in Sysco Co. (NYSE:SYY) by 7.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 254,200 shares of the company’s stock after acquiring an additional 18,300 shares during the period. Sysco comprises 1.9% of Kiltearn Partners LLP’s holdings, making the stock its 22nd biggest holding. Kiltearn Partners LLP owned approximately 0.05% of Sysco worth $20,481,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SYY. First United Bank & Trust bought a new stake in shares of Sysco during the fourth quarter worth about $26,000. Verity & Verity LLC acquired a new position in shares of Sysco during the first quarter worth approximately $26,000. AdvisorNet Financial Inc raised its position in shares of Sysco by 74.0% during the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after purchasing an additional 159 shares during the period. Burkett Financial Services LLC acquired a new position in shares of Sysco during the fourth quarter worth approximately $30,000. Finally, OFI Invest Asset Management acquired a new position in shares of Sysco during the first quarter worth approximately $31,000. Institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on SYY. Piper Sandler decreased their price target on Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Bank of America cut their price target on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. BMO Capital Markets cut their price target on Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Finally, Guggenheim raised Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Tuesday, May 28th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Sysco has an average rating of “Moderate Buy” and a consensus price target of $85.00.

Sysco Stock Performance

SYY traded up $0.73 during midday trading on Friday, reaching $72.85. The company had a trading volume of 3,196,592 shares, compared to its average volume of 2,946,025. The company has a quick ratio of 0.77, a current ratio of 1.34 and a debt-to-equity ratio of 5.77. The business has a 50-day moving average of $72.27 and a two-hundred day moving average of $76.08. The company has a market cap of $36.28 billion, a P/E ratio of 17.77, a P/E/G ratio of 1.96 and a beta of 1.18. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The company had revenue of $19.38 billion during the quarter, compared to analyst estimates of $19.74 billion. During the same period in the prior year, the company earned $0.90 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts predict that Sysco Co. will post 4.3 earnings per share 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.