Empowered Funds LLC Buys 41,525 Shares of Sysco Corporation $SYY

Empowered Funds LLC grew its stake in Sysco Corporation (NYSE:SYY) by 74.8% during the first quarter, HoldingsChannel reports. The fund owned 97,033 shares of the company’s stock after acquiring an additional 41,525 shares during the quarter. Empowered Funds LLC’s holdings in Sysco were worth $6,921,000 as of its most recent SEC filing.

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

Sysco Trading Up 0.7%

NYSE:SYY opened at $85.31 on Friday. The company has a market capitalization of $40.84 billion, a P/E ratio of 23.63, a PEG ratio of 3.34 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. The firm has a fifty day simple moving average of $80.46 and a 200-day simple moving average of $80.14.

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

Insiders Place Their Bets

In other news, Director John M. Hinshaw purchased 13,304 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were acquired at an average price of $75.17 per share, for a total transaction of $1,000,061.68. Following the purchase, the director owned 40,200 shares in the company, valued at $3,021,834. This trade represents a 49.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SYY shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sysco in a report on Friday, June 26th. Citigroup reaffirmed a “neutral” rating on shares of Sysco in a research report on Wednesday, July 22nd. Melius Research downgraded Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Barclays cut their price objective on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $88.00.

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.