Sysco Corporation (NYSE:SYY) Stock Holdings Reduced by Waddell & Associates LLC

Waddell & Associates LLC lowered its position in Sysco Corporation (NYSE:SYYFree Report) by 2.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,962 shares of the company’s stock after selling 150 shares during the quarter. Waddell & Associates LLC’s holdings in Sysco were worth $372,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Sysco during the 4th quarter worth about $450,441,000. Capital Research Global Investors boosted its stake in shares of Sysco by 27.3% during the 4th 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 in the last quarter. Canoe Financial LP boosted its stake in shares of Sysco by 29,610.4% during the 1st quarter. Canoe Financial LP now owns 1,431,149 shares of the company’s stock worth $107,393,000 after acquiring an additional 1,426,332 shares in the last quarter. Burgundy Asset Management Ltd. boosted its stake in Sysco by 251.6% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,452,073 shares of the company’s stock valued at $111,026,000 after purchasing an additional 1,039,088 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Sysco by 9,792.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 980,616 shares of the company’s stock valued at $74,978,000 after purchasing an additional 970,703 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. UBS Group decreased their target price on Sysco from $86.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. JPMorgan Chase & Co. increased their target price on Sysco from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, May 20th. Morgan Stanley increased their target price on Sysco from $72.00 to $77.00 and gave the company an “equal weight” rating in a research note on Monday, July 14th. Guggenheim restated a “buy” rating and set a $82.00 target price on shares of Sysco in a research note on Tuesday, July 8th. Finally, Bank of America increased their target price on 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 issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.23.

Check Out Our Latest Analysis on Sysco

Insider Transactions at Sysco

In other news, EVP Ronald L. Phillips sold 37,606 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,449,035. This represents a 55.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Greg D. Bertrand sold 40,000 shares of the stock in a transaction that occurred 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 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. In the last ninety days, insiders sold 77,962 shares of company stock valued at $6,271,305. Corporate insiders own 0.54% of the company’s stock.

Sysco Trading Up 0.5%

Sysco stock opened at $80.25 on Friday. Sysco Corporation has a 12 month low of $67.12 and a 12 month high of $82.23. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 6.37. The business has a 50 day moving average price of $75.40 and a two-hundred day moving average price of $73.47. The stock has a market cap of $38.90 billion, a price-to-earnings ratio of 20.79, a price-to-earnings-growth ratio of 2.40 and a beta of 0.81.

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

Sysco Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sysco Corporation (NYSE:SYYFree Report).

Institutional Ownership by Quarter for Sysco (NYSE:SYY)

Receive News & Ratings for Sysco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sysco and related companies with MarketBeat.com's FREE daily email newsletter.