Bank Julius Baer & Co. Ltd Zurich Sells 15,962 Shares of Sysco Corporation (NYSE:SYY)

Bank Julius Baer & Co. Ltd Zurich cut its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 9.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 149,867 shares of the company's stock after selling 15,962 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in Sysco were worth $11,764,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SYY. Rialto Wealth Management LLC lifted its holdings in Sysco by 188.7% in the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock valued at $25,000 after acquiring an additional 217 shares during the period. Parvin Asset Management LLC bought a new position in Sysco in the fourth quarter valued at about $29,000. Golden State Wealth Management LLC lifted its holdings 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 acquiring an additional 140 shares during the period. Capital A Wealth Management LLC bought a new position in Sysco in the fourth quarter valued at about $34,000. Finally, Ameriflex Group Inc. bought a new position in Sysco in the fourth quarter valued at about $35,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Price Performance

SYY traded up $0.39 on Friday, hitting $80.25. 2,951,667 shares of the company's stock traded hands, compared to its average volume of 2,574,986. The company's 50 day simple moving average is $75.40 and its 200-day simple moving average is $73.47. The firm has a market cap of $38.90 billion, a price-to-earnings ratio of 20.79, a P/E/G ratio of 2.40 and a beta of 0.81. Sysco Corporation has a one year low of $67.12 and a one year high of $82.23. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 6.37.

Sysco (NYSE:SYY - Get Free Report) last issued its 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). The business had revenue of $19.60 billion for the quarter, compared to the consensus estimate of $20.11 billion. Sysco had a net margin of 2.36% and a return on equity of 107.96%. The firm's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the business posted $0.96 EPS. As a group, research analysts anticipate that Sysco Corporation will post 4.58 EPS for the current year.

Insiders Place Their Bets

In other Sysco news, EVP Ronald L. Phillips sold 37,606 shares of Sysco 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 sale, the executive vice president owned 30,235 shares of the company's stock, valued at $2,449,035. The trade was a 55.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Greg D. Bertrand sold 40,000 shares of Sysco 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 sale, the executive vice president directly owned 56,304 shares in the company, valued at approximately $4,504,320. The trade was a 41.54% decrease in their position. 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 quarter. 0.54% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SYY has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their target price on Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday, May 20th. UBS Group lowered their price objective on Sysco from $86.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Wells Fargo & Company lowered their price objective 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 lifted their price objective on Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. Finally, Citigroup initiated coverage on Sysco in a research report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 price objective on the stock. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.23.

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.