Bayesian Capital Management LP Takes $658,000 Position in Sysco Co. (NYSE:SYY)

Bayesian Capital Management LP acquired a new stake in Sysco Co. (NYSE:SYY) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 8,100 shares of the company’s stock, valued at approximately $658,000.

Other large investors also recently modified their holdings of the company. Harbour Trust & Investment Management Co bought a new stake in shares of Sysco in the 4th quarter valued at approximately $4,623,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Sysco by 16.2% in the 4th 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 period. Bridgefront Capital LLC bought a new stake in shares of Sysco in the 4th quarter valued at approximately $841,000. Nebula Research & Development LLC bought a new stake in shares of Sysco in the 4th quarter valued at approximately $916,000. Finally, Artisan Partners Limited Partnership grew its stake in shares of Sysco by 11.7% in the 4th 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 period. 83.41% of the stock is currently owned by institutional investors.

Sysco Trading 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. The company has a 50 day moving average of $72.24 and a 200 day moving average of $76.07. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.77. The firm has a market cap of $38.07 billion, a price-to-earnings ratio of 17.87, 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 posted its quarterly earnings results 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. The company had revenue of $19.38 billion for the quarter, compared to the consensus estimate of $19.74 billion. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.90 EPS. On average, equities research analysts anticipate that Sysco Co. will post 4.3 EPS for the current year.

Analyst Ratings Changes

SYY has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. Piper Sandler decreased their price target on Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Guggenheim upgraded Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a research report on Tuesday, May 28th. Bank of America decreased their price target on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Finally, Barclays reduced their price objective on Sysco from $88.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $85.00.

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.