Lido Advisors LLC Buys 6,726 Shares of Sysco Corporation $SYY

Lido Advisors LLC grew its stake in shares of Sysco Corporation (NYSE:SYY) by 46.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 21,108 shares of the company’s stock after buying an additional 6,726 shares during the period. Lido Advisors LLC’s holdings in Sysco were worth $1,506,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

SYY has been the topic of a number of recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sysco in a research report on Friday, June 26th. UBS Group lowered their price objective on shares of Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. 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 target price on the stock. in a research report on Tuesday, April 28th. Finally, Morgan Stanley boosted their price target 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. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $88.00.

Insider Activity

In other news, Director John M. Hinshaw bought 13,304 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were bought at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the purchase, the director directly owned 40,200 shares in the company, valued at $3,021,834. This represents a 49.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.56% of the company’s stock.

Sysco Price Performance

SYY opened at $84.12 on Tuesday. The company has a debt-to-equity ratio of 5.58, a current ratio of 1.33 and a quick ratio of 0.80. The stock’s 50 day simple moving average is $79.73 and its 200 day simple moving average is $79.86. The firm has a market cap of $40.27 billion, a price-to-earnings 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 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). The company had revenue of $20.52 billion during the quarter, compared to the consensus estimate of $20.56 billion. Sysco had a net margin of 2.08% and a return on equity of 103.57%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.96 EPS. As a group, analysts predict that Sysco Corporation will post 4.59 earnings per share for the current 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.