Cetera Investment Advisers Acquires 517 Shares of Sysco Corporation (NYSE:SYY)

Cetera Investment Advisers raised its holdings in Sysco Corporation (NYSE:SYY) by 0.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 320,743 shares of the company’s stock after purchasing an additional 517 shares during the quarter. Cetera Investment Advisers owned approximately 0.07% of Sysco worth $24,069,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. John G Ullman & Associates Inc. raised its position in Sysco by 14.6% in the 1st quarter. John G Ullman & Associates Inc. now owns 75,410 shares of the company’s stock valued at $5,659,000 after purchasing an additional 9,594 shares during the last quarter. Avantax Advisory Services Inc. raised its position in Sysco by 1.7% in the 1st quarter. Avantax Advisory Services Inc. now owns 26,705 shares of the company’s stock valued at $2,004,000 after purchasing an additional 438 shares during the last quarter. One Wealth Advisors LLC raised its position in Sysco by 3.3% in the 1st quarter. One Wealth Advisors LLC now owns 4,698 shares of the company’s stock valued at $353,000 after purchasing an additional 151 shares during the last quarter. Advisor OS LLC raised its position in Sysco by 5.0% in the 1st quarter. Advisor OS LLC now owns 12,627 shares of the company’s stock worth $948,000 after purchasing an additional 597 shares during the last quarter. Finally, SFE Investment Counsel raised its position in Sysco by 2.7% in the 1st quarter. SFE Investment Counsel now owns 6,565 shares of the company’s stock worth $493,000 after purchasing an additional 171 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

SYY has been the subject of several research analyst reports. Citigroup initiated coverage on shares of Sysco in a research report on Thursday, May 22nd. They issued a “neutral” rating and a $78.00 price objective for the company. Barclays dropped their price objective on shares of Sysco from $87.00 to $77.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Wells Fargo & Company dropped their price objective on shares of Sysco from $87.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Wall Street Zen cut shares of Sysco from a “buy” rating to a “hold” rating in a research report on Sunday, July 13th. Finally, BMO Capital Markets dropped their price objective on shares of Sysco from $82.00 to $77.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.23.

Sysco Stock Performance

Shares of Sysco stock opened at $80.25 on Monday. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $82.23. The stock has a market capitalization of $38.90 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 2.37 and a beta of 0.81. The company has a debt-to-equity ratio of 6.37, a quick ratio of 0.76 and a current ratio of 1.26. The firm has a fifty day moving average of $75.40 and a two-hundred day moving average of $73.46.

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

Insider Activity

In other news, EVP Ronald L. Phillips sold 37,606 shares of the business’s stock in a transaction on 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 transaction, the executive vice president owned 30,235 shares of the company’s stock, valued at $2,449,035. The trade was a 55.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the company’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the completion of the transaction, the executive vice president directly owned 56,304 shares of the company’s stock, valued at approximately $4,504,320. The trade was a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,962 shares of company stock valued at $6,271,305 in the last quarter. Company insiders own 0.54% of the company’s stock.

About Sysco

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.