34,237 Shares in Sysco Corporation $SYY Purchased by FinArc Investments Inc.

FinArc Investments Inc. purchased a new stake in shares of Sysco Corporation (NYSE:SYY) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 34,237 shares of the company’s stock, valued at approximately $2,442,000. Sysco comprises approximately 2.4% of FinArc Investments Inc.’s holdings, making the stock its 19th largest position.

Several other institutional investors have also added to or reduced their stakes in the company. Lloyd Advisory Services LLC. bought a new stake in Sysco in the fourth quarter worth $25,000. Motiv8 Investments LLC purchased a new stake in Sysco during the fourth quarter valued at $25,000. Sunbelt Securities Inc. lifted its position in Sysco by 87.6% during the first quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock valued at $26,000 after purchasing an additional 170 shares during the last quarter. Torren Management LLC purchased a new position in shares of Sysco in the 4th quarter worth $27,000. Finally, Bard Associates Inc. bought a new stake in shares of Sysco in the 4th quarter worth about $27,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Transactions at Sysco

In other Sysco news, Director John M. Hinshaw bought 13,304 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was acquired at an average price of $75.17 per share, for a total transaction of $1,000,061.68. Following the completion of the transaction, the director directly owned 40,200 shares of the company’s stock, valued at approximately $3,021,834. This represents a 49.46% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is currently owned by insiders.

Sysco Trading Down 0.8%

Shares of SYY opened at $84.65 on Friday. The company’s fifty day simple moving average is $80.28 and its 200-day simple moving average is $80.10. The company has a market cap of $40.53 billion, a P/E ratio of 23.45, a P/E/G ratio of 3.36 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 twelve month low of $68.19 and a twelve month high of $91.85.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Sysco had a return on equity of 103.57% and a net margin of 2.08%.The firm had revenue of $20.52 billion for the quarter, compared to analysts’ expectations of $20.56 billion. During the same period in the prior year, the firm posted $0.96 earnings per share. Sysco’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, analysts expect that Sysco Corporation will post 4.59 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SYY shares. Piper Sandler decreased their target price on shares of Sysco from $83.00 to $77.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Sanford C. Bernstein dropped their price target on Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a research report on Wednesday, April 29th. UBS Group reduced their price objective on Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of Sysco in a research report on Friday, June 26th. Finally, Morgan Stanley raised their price objective on Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target 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.