Sysco Corporation (NYSE:SYY) Position Decreased by RWC Asset Management LLP

RWC Asset Management LLP lessened its holdings in shares of Sysco Corporation (NYSE:SYY) by 4.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 618,760 shares of the company’s stock after selling 27,977 shares during the quarter. Sysco makes up 2.4% of RWC Asset Management LLP’s portfolio, making the stock its 10th largest holding. RWC Asset Management LLP’s holdings in Sysco were worth $46,432,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SYY. Rialto Wealth Management LLC raised its position in shares of Sysco by 188.7% during the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company’s stock valued at $25,000 after purchasing an additional 217 shares during the period. Parvin Asset Management LLC bought a new stake in shares of Sysco during the 4th quarter valued at $29,000. Golden State Wealth Management LLC raised its position in shares of Sysco by 48.4% during the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock valued at $32,000 after purchasing an additional 140 shares during the period. Capital A Wealth Management LLC bought a new stake in shares of Sysco during the 4th quarter valued at $34,000. Finally, Ameriflex Group Inc. bought a new stake in shares of Sysco during the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling at Sysco

In other news, EVP Ronald L. Phillips sold 37,606 shares of the business’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total value of $3,046,086.00. Following the completion of the sale, the executive vice president owned 30,235 shares in the company, valued at approximately $2,449,035. The trade was a 55.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the business’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the completion of the sale, the executive vice president owned 56,304 shares of the company’s stock, valued at approximately $4,504,320. This represents a 41.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,962 shares of company stock valued at $6,271,305 in the last three months. Company insiders own 0.54% of the company’s stock.

Sysco Price Performance

SYY stock opened at $80.25 on Friday. Sysco Corporation has a 12 month low of $67.12 and a 12 month high of $82.23. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 6.37. The company has a 50-day moving average price of $75.40 and a 200 day moving average price of $73.47. The stock has a market cap of $38.90 billion, a PE ratio of 20.79, a P/E/G ratio of 2.40 and a beta of 0.81.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.06). The firm had revenue of $19.60 billion for the quarter, compared to analysts’ expectations of $20.11 billion. Sysco had a return on equity of 107.96% and a net margin of 2.36%. Sysco’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.96 earnings per share. Equities research analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SYY shares. JPMorgan Chase & Co. raised their price objective on shares of Sysco from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, May 20th. Barclays decreased their price objective on shares of Sysco from $87.00 to $77.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. Citigroup assumed coverage on shares of Sysco in a research report on Thursday, May 22nd. They set a “neutral” rating and a $78.00 price objective on the stock. Wells Fargo & Company reduced their price target on shares of Sysco from $87.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Finally, BMO Capital Markets reduced their price target on shares of Sysco from $82.00 to $77.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $83.23.

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.