Nemes Rush Group LLC Has $169,000 Holdings in Sysco Corporation (NYSE:SYY)

Nemes Rush Group LLC cut its stake in Sysco Corporation (NYSE:SYY) by 14.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,251 shares of the company’s stock after selling 380 shares during the period. Nemes Rush Group LLC’s holdings in Sysco were worth $169,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Rialto Wealth Management LLC raised its holdings in shares of Sysco by 188.7% in the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company’s stock worth $25,000 after buying an additional 217 shares in the last quarter. Parvin Asset Management LLC bought a new stake in Sysco during the 4th quarter worth approximately $29,000. Golden State Wealth Management LLC grew its position in Sysco by 48.4% during the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock worth $32,000 after acquiring an additional 140 shares during the last quarter. Capital A Wealth Management LLC bought a new stake in Sysco during the 4th quarter worth approximately $34,000. Finally, Ameriflex Group Inc. bought a new stake in Sysco during the 4th quarter worth approximately $35,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Up 0.5%

NYSE SYY opened at $80.25 on Monday. The business has a fifty day moving average price of $75.40 and a two-hundred day moving average price of $73.46. The company has a debt-to-equity ratio of 6.37, a current ratio of 1.26 and a quick ratio of 0.76. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The stock has a market capitalization of $38.90 billion, a PE ratio of 20.79, a PEG ratio of 2.37 and a beta of 0.81.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.06). The business had revenue of $19.60 billion for the quarter, compared to analyst estimates of $20.11 billion. Sysco had a return on equity of 107.96% and a net margin of 2.36%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.96 EPS. Equities analysts expect that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SYY shares. BMO Capital Markets decreased their price target on Sysco from $82.00 to $77.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Wells Fargo & Company decreased their price target on Sysco from $87.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. UBS Group decreased their price target on Sysco from $86.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a research report on Sunday, July 13th. Finally, Citigroup started coverage on Sysco in a research report on Thursday, May 22nd. They issued a “neutral” rating and a $78.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Sysco presently has an average rating of “Moderate Buy” and an average price target of $83.23.

Insider Activity at Sysco

In other news, EVP Ronald L. Phillips sold 37,606 shares of the 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 sale, the executive vice president owned 30,235 shares of the company’s stock, valued at approximately $2,449,035. This represents a 55.43% decrease in their ownership of the stock. 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 dated 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 sale, the executive vice president 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. Insiders have sold a total of 77,962 shares of company stock valued at $6,271,305 in the last 90 days. 0.54% of the stock is owned by corporate insiders.

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.