Keeler Thomas Management LLC Sells 30,164 Shares of Sysco Corporation (NYSE:SYY)

Keeler Thomas Management LLC lowered its position in shares of Sysco Corporation (NYSE:SYY) by 56.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,885 shares of the company’s stock after selling 30,164 shares during the quarter. Keeler Thomas Management LLC’s holdings in Sysco were worth $1,717,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SYY. Russell Investments Group Ltd. boosted its holdings in Sysco by 11.8% during the fourth quarter. Russell Investments Group Ltd. now owns 271,954 shares of the company’s stock worth $20,793,000 after purchasing an additional 28,629 shares during the last quarter. FMR LLC lifted its position in Sysco by 0.8% during the 4th quarter. FMR LLC now owns 7,590,141 shares of the company’s stock worth $580,342,000 after buying an additional 60,059 shares in the last quarter. FIL Ltd boosted its stake in shares of Sysco by 27.1% during the 4th quarter. FIL Ltd now owns 1,535,042 shares of the company’s stock worth $117,369,000 after buying an additional 326,852 shares during the last quarter. Applied Finance Capital Management LLC bought a new position in shares of Sysco in the 4th quarter valued at about $656,000. Finally, APG Asset Management N.V. acquired a new stake in shares of Sysco in the fourth quarter valued at about $19,818,000. 83.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on SYY. Barclays increased their price target on Sysco from $77.00 to $82.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Citigroup started coverage on shares of Sysco in a research note on Thursday, May 22nd. They issued a “neutral” rating and a $78.00 target price for the company. Sanford C. Bernstein set a $87.00 price target on shares of Sysco and gave the stock an “overweight” rating in a research report on Tuesday, April 22nd. Morgan Stanley lifted their price objective on shares of Sysco from $72.00 to $77.00 and gave the company an “equal weight” rating in a research report on Monday, July 14th. Finally, Bank of America raised their target price on shares of Sysco from $81.00 to $93.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $85.69.

Sysco Trading Up 2.7%

Shares of SYY stock opened at $81.35 on Thursday. The stock has a 50 day simple moving average of $76.62 and a 200 day simple moving average of $73.80. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $82.23. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75. The stock has a market cap of $39.44 billion, a P/E ratio of 21.81, a price-to-earnings-growth ratio of 2.46 and a beta of 0.83.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 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 business had revenue of $21.14 billion during the quarter, compared to the consensus estimate of $21.01 billion. During the same quarter in the previous year, the firm earned $1.39 earnings per share. Sysco’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, research analysts predict that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Insider Activity at Sysco

In other news, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total value of $3,200,000.00. Following the transaction, the executive vice president owned 56,304 shares in the company, valued at approximately $4,504,320. This trade represents a 41.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ronald L. Phillips sold 37,606 shares of the firm’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 directly owned 30,235 shares in the company, valued at $2,449,035. This trade represents a 55.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

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.