8,592 Shares in Sysco Corporation $SYY Bought by Groupama Asset Managment

Groupama Asset Managment bought a new position in Sysco Corporation (NYSE:SYY) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 8,592 shares of the company’s stock, valued at approximately $613,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Teacher Retirement System of Texas increased its holdings in shares of Sysco by 8.0% in the 4th quarter. Teacher Retirement System of Texas now owns 370,571 shares of the company’s stock valued at $27,307,000 after acquiring an additional 27,510 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Sysco by 9.5% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 412,423 shares of the company’s stock worth $30,445,000 after purchasing an additional 35,647 shares in the last quarter. Nicholas Company Inc. acquired a new stake in Sysco in the 4th quarter worth approximately $2,278,000. Norges Bank acquired a new position in Sysco during the 4th quarter valued at approximately $542,780,000. Finally, Banque Cantonale Vaudoise increased its stake in Sysco by 301.9% during the 1st quarter. Banque Cantonale Vaudoise now owns 16,828 shares of the company’s stock valued at $1,200,000 after purchasing an additional 12,641 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SYY has been the subject of several research reports. Morgan Stanley lifted their price objective 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. Piper Sandler cut their target price on Sysco from $83.00 to $77.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Barclays reduced their target price on Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft downgraded Sysco from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a research note on Tuesday, April 28th. Finally, Citigroup reissued a “neutral” rating on shares of Sysco in a report on Wednesday, July 22nd. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $88.00.

Sysco Stock Performance

Shares of NYSE SYY opened at $85.31 on Monday. The company has a 50 day simple moving average of $80.46 and a two-hundred day simple moving average of $80.18. The stock has a market cap of $40.84 billion, a price-to-earnings ratio of 23.63, a PEG 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 12 month low of $68.19 and a 12 month high of $91.85.

Insider Transactions at Sysco

In other Sysco news, Director John M. Hinshaw bought 13,304 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average cost 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 trade represents a 49.46% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.56% of the stock is owned by corporate insiders.

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.