Bayesian Capital Management LP Acquires Shares of 8,100 Sysco Co. (NYSE:SYY)

Bayesian Capital Management LP acquired a new stake in Sysco Co. (NYSE:SYY) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 8,100 shares of the company’s stock, valued at approximately $658,000.

Several other large investors have also modified their holdings of SYY. Harbour Trust & Investment Management Co acquired a new position in Sysco during the fourth quarter worth $4,623,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Sysco by 16.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 298,982 shares of the company’s stock valued at $21,865,000 after purchasing an additional 41,618 shares during the last quarter. Bridgefront Capital LLC acquired a new stake in Sysco in the fourth quarter valued at $841,000. Nebula Research & Development LLC acquired a new stake in Sysco in the fourth quarter valued at $916,000. Finally, Artisan Partners Limited Partnership grew its holdings in Sysco by 11.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 597,216 shares of the company’s stock valued at $43,674,000 after purchasing an additional 62,556 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. BMO Capital Markets decreased their price objective on Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, May 23rd. Barclays reduced their target price on Sysco from $88.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. Guggenheim upgraded Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a research report on Tuesday, May 28th. Truist Financial reduced their target price on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Finally, JPMorgan Chase & Co. reduced their target price on Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Sysco Stock Up 4.3 %

Shares of SYY stock traded up $3.18 during trading hours on Tuesday, reaching $76.44. The company had a trading volume of 6,600,370 shares, compared to its average volume of 3,122,437. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89. The stock’s fifty day simple moving average is $72.24 and its 200 day simple moving average is $76.07. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.77 and a current ratio of 1.34. The company has a market capitalization of $38.07 billion, a P/E ratio of 17.87, a price-to-earnings-growth ratio of 1.96 and a beta of 1.18.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 earnings per share 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 firm had revenue of $19.38 billion during the quarter, compared to analyst estimates of $19.74 billion. During the same quarter last year, the firm earned $0.90 EPS. Sysco’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, sell-side analysts expect that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

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.