AE Wealth Management LLC Has $1.37 Million Holdings in Sysco Corporation (NYSE:SYY)

Key Points

• AE Wealth Management LLC reduced its stake in Sysco Corporation by 82.7% in Q1, now owning only 18,191 shares valued at approximately $1.36 million.
• Sysco's recent earnings report revealed EPS of $0.96, missing expectations by $0.06, with quarterly revenue of $19.60 billion, below analyst estimates.
• Multiple institutional investors have adjusted their positions in Sysco, with Rialto Wealth Management LLC increasing its stake by 188.7% during the same period.

AE Wealth Management LLC lessened its stake in Sysco Corporation (NYSE:SYY - Free Report) by 82.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,191 shares of the company's stock after selling 87,198 shares during the quarter. AE Wealth Management LLC's holdings in Sysco were worth $1,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Rialto Wealth Management LLC lifted its position in Sysco by 188.7% in the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock worth $25,000 after buying an additional 217 shares during the last quarter. Parvin Asset Management LLC purchased a new position in shares of Sysco during the fourth quarter valued at $29,000. Golden State Wealth Management LLC grew its stake in Sysco by 48.4% in the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after purchasing an additional 140 shares during the last quarter. Capital A Wealth Management LLC purchased a new position in Sysco in the fourth quarter valued at about $34,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Sysco during the fourth quarter worth about $35,000. 83.41% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Ronald L. Phillips sold 37,606 shares of Sysco stock in a transaction that occurred on 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 approximately $2,449,035. The trade was a 55.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sheila Talton sold 356 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total transaction of $25,219.04. Following the transaction, the director owned 12,738 shares of the company's stock, valued at approximately $902,359.92. This represents a 2.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,962 shares of company stock worth $6,271,305 in the last quarter. Corporate insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Wall Street Zen downgraded Sysco from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Barclays reduced their price target on Sysco from $87.00 to $77.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Wells Fargo & Company cut 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. Morgan Stanley upped their target price on Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Finally, Guggenheim reiterated a "buy" rating and issued a $82.00 target price on shares of Sysco in a research note on Tuesday, July 8th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Sysco currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.85.

Sysco Trading Up 0.1%

Sysco stock traded up $0.06 during mid-day trading on Monday, hitting $80.36. 4,450,648 shares of the company's stock were exchanged, compared to its average volume of 2,545,264. The firm has a market capitalization of $38.95 billion, a P/E ratio of 20.82, a PEG ratio of 2.37 and a beta of 0.81. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week 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 company's 50 day simple moving average is $75.55 and its 200-day simple moving average is $73.51.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a net margin of 2.36% and a return on equity of 107.96%. The firm had revenue of $19.60 billion during the quarter, compared to analyst estimates of $20.11 billion. During the same period in the prior year, the business earned $0.96 EPS. The business's revenue for the quarter was up 1.1% compared to the same quarter last year. On average, equities analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current year.

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.