Banque Cantonale Vaudoise Makes New $809,000 Investment in Sysco Corporation (NYSE:SYY)

Key Points

• Banque Cantonale Vaudoise has acquired a new position in Sysco Corporation, purchasing 10,774 shares valued at approximately $809,000.
• A significant number of institutional investors have recently altered their stakes in Sysco, with multiple firms reporting increases in their holdings during the first quarter.
• Sysco Corporation reported earnings per share (EPS) of $1.48 for the recent quarter, surpassing analysts' expectations of $1.39, along with a revenue of $21.14 billion, which also exceeded estimates.

Banque Cantonale Vaudoise bought a new stake in shares of Sysco Corporation (NYSE:SYY - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,774 shares of the company's stock, valued at approximately $809,000.

Several other hedge funds also recently modified their holdings of SYY. Capital Research Global Investors boosted its position in shares of Sysco by 27.3% during the fourth quarter. Capital Research Global Investors now owns 8,991,476 shares of the company's stock valued at $687,488,000 after buying an additional 1,928,002 shares during the last quarter. Canoe Financial LP boosted its position in shares of Sysco by 29,610.4% during the first quarter. Canoe Financial LP now owns 1,431,149 shares of the company's stock valued at $107,393,000 after buying an additional 1,426,332 shares during the last quarter. Burgundy Asset Management Ltd. boosted its position in shares of Sysco by 251.6% during the fourth quarter. Burgundy Asset Management Ltd. now owns 1,452,073 shares of the company's stock valued at $111,026,000 after buying an additional 1,039,088 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of Sysco by 9,792.2% during the fourth 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 buying an additional 970,703 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of Sysco by 1,940.1% during the first quarter. Mackenzie Financial Corp now owns 1,016,660 shares of the company's stock valued at $76,290,000 after buying an additional 966,826 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company's stock.

Sysco Stock Performance

Shares of NYSE:SYY traded up $0.27 during midday trading on Friday, reaching $79.87. 2,101,301 shares of the company traded hands, compared to its average volume of 2,893,330. The company has a quick ratio of 0.76, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. Sysco Corporation has a 12 month low of $67.12 and a 12 month high of $82.23. The firm has a market capitalization of $38.72 billion, a price-to-earnings ratio of 21.41, a price-to-earnings-growth ratio of 2.47 and a beta of 0.83. The firm's fifty day moving average price is $76.12 and its two-hundred day moving average price is $73.67.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.09. Sysco had a return on equity of 109.52% and a net margin of 2.25%. The company had revenue of $21.14 billion for the quarter, compared to analyst estimates of $21.01 billion. During the same period in the previous year, the company posted $1.39 EPS. The firm's revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities analysts expect that Sysco Corporation will post 4.58 earnings per share for the current year.

Wall Street Analyst Weigh In

SYY has been the topic of several research analyst reports. Barclays boosted their price objective on Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a research report on Wednesday. Citigroup initiated 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. UBS Group set a $90.00 price objective on Sysco in a research report on Wednesday. Wall Street Zen cut Sysco from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Finally, JPMorgan Chase & Co. boosted their price objective on Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. Five equities research 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 has a consensus rating of "Moderate Buy" and an average target price of $85.54.

Insider Transactions at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 40,000 shares of the company's 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 transaction, the executive vice president directly owned 56,304 shares in the company, valued at $4,504,320. This represents a 41.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ronald L. Phillips sold 37,606 shares of the company's 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 transaction, the executive vice president owned 30,235 shares in the company, valued at $2,449,035. This represents a 55.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.