Sysco Corporation $SYY Shares Sold by Entropy Technologies LP

Entropy Technologies LP decreased its position in Sysco Corporation (NYSE:SYY) by 73.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,768 shares of the company’s stock after selling 61,537 shares during the period. Entropy Technologies LP’s holdings in Sysco were worth $1,553,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Intech Investment Management LLC raised its holdings in Sysco by 53.1% in the 1st quarter. Intech Investment Management LLC now owns 22,310 shares of the company’s stock valued at $1,674,000 after buying an additional 7,742 shares during the period. Schnieders Capital Management LLC. lifted its position in Sysco by 24.1% in the second quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company’s stock valued at $781,000 after buying an additional 2,000 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Sysco by 62.4% during the second quarter. NewEdge Advisors LLC now owns 35,447 shares of the company’s stock worth $2,685,000 after buying an additional 13,616 shares during the period. Sei Investments Co. increased its position in shares of Sysco by 14.2% during the second quarter. Sei Investments Co. now owns 344,504 shares of the company’s stock valued at $26,092,000 after acquiring an additional 42,903 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its position in shares of Sysco by 0.8% during the second quarter. Treasurer of the State of North Carolina now owns 226,648 shares of the company’s stock valued at $17,166,000 after acquiring an additional 1,710 shares during the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Sysco

In other news, Director John M. Hinshaw purchased 13,304 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average price of $75.17 per share, for a total transaction of $1,000,061.68. Following the completion of the purchase, the director directly owned 40,200 shares of the company’s stock, valued at $3,021,834. The trade was a 49.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.56% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SYY has been the topic of several recent analyst reports. Melius Research lowered shares of Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Piper Sandler dropped their target price on shares of Sysco from $83.00 to $77.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. UBS Group decreased their price target on Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Finally, Sanford C. Bernstein lowered 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. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $88.00.

Sysco Stock Performance

Shares of SYY opened at $84.12 on Tuesday. The stock has a 50-day simple moving average of $79.73 and a 200-day simple moving average of $79.86. The company has a debt-to-equity ratio of 5.58, a quick ratio of 0.80 and a current ratio of 1.33. The stock has a market capitalization of $40.27 billion, a PE ratio of 23.30, a PEG ratio of 3.27 and a beta of 0.64. Sysco Corporation has a 1 year low of $68.19 and a 1 year high of $91.85.

Sysco (NYSE:SYY) last announced its quarterly earnings data 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 company had revenue of $20.52 billion for the quarter, compared to analyst estimates of $20.56 billion. During the same period in the prior year, the firm posted $0.96 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, analysts predict that Sysco Corporation will post 4.59 earnings per share for the current fiscal year.

Sysco Company 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.