Sysco Corporation (NYSE:SYY) Shares Acquired by Modera Wealth Management LLC

Modera Wealth Management LLC lifted its holdings in Sysco Corporation (NYSE:SYY) by 1.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,147 shares of the company’s stock after buying an additional 1,967 shares during the quarter. Modera Wealth Management LLC’s holdings in Sysco were worth $7,890,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Arkadios Wealth Advisors lifted its holdings in Sysco by 19.6% in the first quarter. Arkadios Wealth Advisors now owns 5,599 shares of the company’s stock valued at $420,000 after acquiring an additional 919 shares during the period. XTX Topco Ltd increased its holdings in shares of Sysco by 624.2% in the 1st quarter. XTX Topco Ltd now owns 37,385 shares of the company’s stock valued at $2,805,000 after purchasing an additional 32,223 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Sysco in the first quarter valued at about $809,000. N.E.W. Advisory Services LLC purchased a new stake in Sysco during the first quarter worth about $33,000. Finally, Werba Rubin Papier Wealth Management grew its position in Sysco by 11.4% during the first quarter. Werba Rubin Papier Wealth Management now owns 3,283 shares of the company’s stock worth $246,000 after buying an additional 335 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

SYY has been the subject of a number of research reports. 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 target for the company. Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a research note on Sunday, July 13th. Wells Fargo & Company upped their target price on Sysco from $80.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday. Morgan Stanley increased their target price on Sysco from $72.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Monday, July 14th. Finally, BMO Capital Markets lowered their price target on Sysco from $82.00 to $77.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Sysco has an average rating of “Moderate Buy” and an average target price of $85.38.

Sysco Trading Up 2.2%

NYSE:SYY opened at $80.10 on Thursday. The stock has a market cap of $38.83 billion, a price-to-earnings ratio of 21.47, a price-to-earnings-growth ratio of 2.37 and a beta of 0.81. Sysco Corporation has a one year low of $67.12 and a one year high of $82.23. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.76 and a current ratio of 1.21. The business’s 50-day simple moving average is $75.81 and its 200 day simple moving average is $73.59.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.09. Sysco had a return on equity of 109.52% and a net margin of 2.25%. The company had revenue of $21.14 billion for the quarter, compared to analyst estimates of $21.01 billion. During the same period in the prior year, the company posted $1.39 EPS. Sysco’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, sell-side analysts predict that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Ronald L. Phillips sold 37,606 shares of Sysco stock in a transaction dated Wednesday, July 23rd. The stock was 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 directly owned 30,235 shares in the company, valued at approximately $2,449,035. This trade represents a 55.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value of $3,200,000.00. Following the completion of the sale, the executive vice president directly owned 56,304 shares of the company’s stock, valued at approximately $4,504,320. This represents a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Sysco Company 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.