Empowered Funds LLC Acquires 41,525 Shares of Sysco Corporation $SYY

Empowered Funds LLC lifted its holdings in Sysco Corporation (NYSE:SYY) by 74.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 97,033 shares of the company’s stock after buying an additional 41,525 shares during the quarter. Empowered Funds LLC’s holdings in Sysco were worth $6,921,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Sysco by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company’s stock valued at $4,591,281,000 after acquiring an additional 814,270 shares during the last quarter. State Street Corp increased its stake in Sysco by 0.9% in the third quarter. State Street Corp now owns 26,669,576 shares of the company’s stock worth $2,195,973,000 after purchasing an additional 246,542 shares during the period. Geode Capital Management LLC lifted its position in shares of Sysco by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company’s stock worth $934,391,000 after purchasing an additional 131,659 shares during the last quarter. Norges Bank bought a new stake in shares of Sysco during the fourth quarter worth $542,780,000. Finally, Morgan Stanley boosted its stake in shares of Sysco by 9.0% during the fourth quarter. Morgan Stanley now owns 6,058,405 shares of the company’s stock valued at $446,444,000 after purchasing an additional 500,881 shares during the period. 83.41% of the stock is owned by institutional investors.

Sysco Price Performance

SYY opened at $85.31 on Friday. The company has a market capitalization of $40.84 billion, a price-to-earnings ratio of 23.63, a PEG ratio of 3.34 and a beta of 0.64. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 5.58. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85. The business’s fifty day simple moving average is $80.46 and its 200-day simple moving average is $80.14.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). Sysco had a net margin of 2.08% and a return on equity of 103.57%. The firm had revenue of $20.52 billion during the quarter, compared to the consensus estimate of $20.56 billion. During the same quarter in the previous year, the firm earned $0.96 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that Sysco Corporation will post 4.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Sysco news, Director John M. Hinshaw bought 13,304 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were acquired at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the transaction, the director owned 40,200 shares of the company’s stock, valued at approximately $3,021,834. This trade represents a 49.46% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SYY. Piper Sandler cut their price target on shares of Sysco from $83.00 to $77.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Wall Street Zen lowered shares of Sysco from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Deutsche Bank Aktiengesellschaft cut shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a research report on Tuesday, April 28th. Morgan Stanley upped their target price on shares of Sysco from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sysco in a research report on Friday, June 26th. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Sysco has a consensus rating of “Hold” and a consensus target price of $88.00.

Sysco Profile

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.