Manchester Capital Management LLC Sells 3,095 Shares of Sysco Corporation (NYSE:SYY)

Manchester Capital Management LLC decreased its position in shares of Sysco Corporation (NYSE:SYY) by 62.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,872 shares of the company’s stock after selling 3,095 shares during the period. Manchester Capital Management LLC’s holdings in Sysco were worth $140,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in SYY. Arete Wealth Advisors LLC raised its position in Sysco by 14.8% in the 4th quarter. Arete Wealth Advisors LLC now owns 3,410 shares of the company’s stock worth $261,000 after purchasing an additional 439 shares during the period. Prudential PLC grew its holdings in shares of Sysco by 6.9% in the fourth quarter. Prudential PLC now owns 16,262 shares of the company’s stock worth $1,243,000 after purchasing an additional 1,044 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new position in Sysco in the 4th quarter worth about $12,519,000. Sit Investment Associates Inc. bought a new stake in Sysco during the 4th quarter valued at about $118,000. Finally, Wedbush Securities Inc. boosted its position in Sysco by 38.9% in the 4th quarter. Wedbush Securities Inc. now owns 8,139 shares of the company’s stock valued at $622,000 after buying an additional 2,279 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling at Sysco

In related news, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction that occurred on 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 in the company, valued at $4,504,320. This trade represents a 41.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ronald L. Phillips sold 37,606 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the sale, the executive vice president directly owned 30,235 shares in the company, valued at approximately $2,449,035. This represents a 55.43% decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

Sysco Price Performance

SYY opened at $79.45 on Tuesday. The firm has a market capitalization of $38.51 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 2.47 and a beta of 0.83. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70. The business’s 50-day moving average is $76.28 and its two-hundred day moving average is $73.71. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $82.23.

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SYY shares. Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a research note on Sunday, July 13th. UBS Group set a $90.00 price objective on Sysco in a report on Wednesday, July 30th. BMO Capital Markets decreased their target price on Sysco from $82.00 to $77.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Sanford C. Bernstein set a $87.00 price target on Sysco and gave the stock an “overweight” rating in a research report on Tuesday, April 22nd. Finally, Citigroup assumed coverage on Sysco in a report on Thursday, May 22nd. They issued a “neutral” rating and a $78.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.54.

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.