Allianz SE Sells 1,900 Shares of Sysco Corporation (NYSE:SYY)

Allianz SE decreased its holdings in shares of Sysco Corporation (NYSE:SYY) by 9.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,756 shares of the company’s stock after selling 1,900 shares during the quarter. Allianz SE’s holdings in Sysco were worth $1,332,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Invesco Ltd. raised its position in shares of Sysco by 5.3% during the 4th quarter. Invesco Ltd. now owns 16,907,541 shares of the company’s stock valued at $1,292,751,000 after buying an additional 851,441 shares in the last quarter. Capital Research Global Investors increased its stake in Sysco by 27.3% during the fourth quarter. Capital Research Global Investors now owns 8,991,476 shares of the company’s stock worth $687,488,000 after acquiring an additional 1,928,002 shares during the last quarter. FMR LLC lifted its stake in shares of Sysco by 0.8% in the 4th quarter. FMR LLC now owns 7,590,141 shares of the company’s stock valued at $580,342,000 after purchasing an additional 60,059 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in shares of Sysco by 2.0% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 7,353,551 shares of the company’s stock worth $551,810,000 after purchasing an additional 146,573 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Sysco by 11.6% in the 4th quarter. Northern Trust Corp now owns 5,683,453 shares of the company’s stock worth $434,557,000 after purchasing an additional 588,844 shares during the period. Institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SYY. UBS Group set a $90.00 price target on Sysco in a report on Wednesday. Wall Street Zen downgraded Sysco from a “buy” rating to a “hold” rating in a research report on Sunday, July 13th. Citigroup started coverage on Sysco in a research report on Thursday, May 22nd. They set a “neutral” rating and a $78.00 target price for the company. Sanford C. Bernstein set a $87.00 target price on shares of Sysco and gave the company an “overweight” rating in a research note on Tuesday, April 22nd. 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 research note on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.54.

Sysco Trading Up 0.3%

NYSE:SYY opened at $79.87 on Monday. The firm has a 50-day simple moving average of $76.12 and a 200-day simple moving average of $73.67. Sysco Corporation has a one year low of $67.12 and a one year high of $82.23. The firm has a market cap of $38.72 billion, a P/E ratio of 21.41, a P/E/G ratio of 2.47 and a beta of 0.83. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21.

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

Insiders Place Their Bets

In other news, EVP Ronald L. Phillips sold 37,606 shares of Sysco stock in a transaction that occurred 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 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 accessible through this link. Also, EVP Greg D. Bertrand sold 40,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president owned 56,304 shares of the company’s stock, valued at approximately $4,504,320. This trade represents a 41.54% decrease in their position. 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.