DNB Asset Management AS Grows Stake in Sysco Co. (NYSE:SYY)

DNB Asset Management AS boosted its holdings in Sysco Co. (NYSE:SYY) by 4.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 79,540 shares of the company’s stock after purchasing an additional 3,606 shares during the quarter. DNB Asset Management AS’s holdings in Sysco were worth $5,678,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC grew its position in shares of Sysco by 1.8% in the 4th quarter. Chicago Partners Investment Group LLC now owns 7,150 shares of the company’s stock valued at $536,000 after buying an additional 124 shares during the last quarter. Hunter Associates Investment Management LLC lifted its holdings in shares of Sysco by 1.5% in the 4th quarter. Hunter Associates Investment Management LLC now owns 8,275 shares of the company’s stock valued at $606,000 after purchasing an additional 125 shares during the last quarter. Bell Investment Advisors Inc lifted its holdings in shares of Sysco by 8.2% in the 4th quarter. Bell Investment Advisors Inc now owns 1,722 shares of the company’s stock valued at $126,000 after purchasing an additional 131 shares during the last quarter. Beacon Investment Advisors LLC boosted its position in shares of Sysco by 0.5% in the 4th quarter. Beacon Investment Advisors LLC now owns 24,680 shares of the company’s stock valued at $1,805,000 after purchasing an additional 133 shares during the period. Finally, Hazlett Burt & Watson Inc. increased its position in Sysco by 6.4% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 2,246 shares of the company’s stock worth $165,000 after buying an additional 135 shares during the period. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SYY has been the topic of a number of research reports. Morgan Stanley lowered their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Piper Sandler lowered their target price on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. BMO Capital Markets lowered their target price on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, May 23rd. Finally, StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.27.

Sysco Stock Up 0.3 %

SYY stock opened at $75.39 on Wednesday. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.77. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89. The firm has a market capitalization of $37.54 billion, a PE ratio of 18.33, a P/E/G ratio of 2.07 and a beta of 1.18. The company’s 50 day simple moving average is $72.56 and its 200-day simple moving average is $76.10.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The firm had revenue of $20.56 billion for the quarter, compared to analysts’ expectations of $20.51 billion. During the same quarter in the prior year, the firm earned $1.34 EPS. Sysco’s quarterly revenue was up 4.2% on a year-over-year basis. Equities analysts expect that Sysco Co. will post 4.59 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.