ASR Vermogensbeheer N.V. Invests $6.81 Million in Sysco Corporation (NYSE:SYY)

Key Points

• ASR Vermogensbeheer N.V. acquired a new position in Sysco Corporation with the purchase of 90,703 shares worth approximately $6.8 million during the first quarter.
• Sysco's stock has recently seen a 2.7% increase, with the stock opening at $81.35, and analysts predicting an EPS of 4.58 for the current fiscal year.
• Several investment firms have raised their price targets on Sysco, with a consensus rating of "Moderate Buy" and an average target price of $85.69.

ASR Vermogensbeheer N.V. bought a new stake in Sysco Corporation (NYSE:SYY - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 90,703 shares of the company's stock, valued at approximately $6,807,000.

Other large investors have also recently bought and sold shares of the company. Capital Research Global Investors grew 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 purchasing an additional 1,928,002 shares during the period. FMR LLC grew its stake in shares of 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 purchasing an additional 60,059 shares during the period. Diamond Hill Capital Management Inc. grew its stake in shares of Sysco by 2.0% during 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. Northern Trust Corp grew its stake in shares of Sysco by 11.6% during 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Sysco by 19.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,695,636 shares of the company's stock worth $359,028,000 after purchasing an additional 777,271 shares during the period. Hedge funds and other institutional investors own 83.41% of the company's stock.

Insiders Place Their Bets

In other Sysco news, EVP Ronald L. Phillips sold 37,606 shares of the firm's stock in a transaction 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 transaction, the executive vice president owned 30,235 shares in the company, valued at approximately $2,449,035. This trade represents a 55.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Greg D. Bertrand sold 40,000 shares of the firm's stock in a transaction 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 transaction, the executive vice president owned 56,304 shares in the company, valued at $4,504,320. The trade was a 41.54% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.

Sysco Price Performance

SYY stock traded up $0.27 during midday trading on Friday, reaching $80.64. The stock had a trading volume of 3,584,571 shares, compared to its average volume of 3,329,106. The company's fifty day simple moving average is $76.94 and its 200 day simple moving average is $73.90. 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 company has a market cap of $39.09 billion, a price-to-earnings ratio of 21.62, a price-to-earnings-growth ratio of 2.49 and a beta of 0.83. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $82.23.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $21.14 billion for the quarter, compared to analyst estimates of $21.01 billion. Sysco had a return on equity of 109.52% and a net margin of 2.25%. The firm's revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.39 EPS. As a group, sell-side analysts predict that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SYY. Guggenheim raised their price objective on shares of Sysco from $85.00 to $87.00 and gave the stock a "buy" rating in a research note on Wednesday. Wells Fargo & Company set a $88.00 price target on shares of Sysco and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Morgan Stanley lifted their price target on shares of Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. BMO Capital Markets dropped 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. Finally, UBS Group set a $90.00 price target on shares of Sysco in a research note on Wednesday, July 30th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.69.

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.