Callan Family Office LLC Sells 21,045 Shares of Sysco Corporation (NYSE:SYY)

Key Points

• Callan Family Office LLC reduced its position in Sysco Corporation by 48.1% during the 1st quarter, holding 22,716 shares worth approximately $1.71 million.
• Several large investors, including Invesco Ltd. and Capital Research Global Investors, have increased their stakes in Sysco, demonstrating continued institutional interest in the company.
• Sysco recently reported a quarterly EPS of $1.48, exceeding analysts' estimates, with quarterly revenue of $21.14 billion, an increase of 2.8% year-over-year.

Callan Family Office LLC lowered its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 48.1% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,716 shares of the company's stock after selling 21,045 shares during the period. Callan Family Office LLC's holdings in Sysco were worth $1,705,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bessemer Group Inc. boosted its position in shares of Sysco by 44.7% during the 4th quarter. Bessemer Group Inc. now owns 9,196 shares of the company's stock valued at $703,000 after purchasing an additional 2,839 shares in the last quarter. Sterling Capital Management LLC boosted its position in shares of Sysco by 25.3% during the 4th quarter. Sterling Capital Management LLC now owns 16,186 shares of the company's stock valued at $1,238,000 after purchasing an additional 3,267 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Sysco by 5.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 60,489 shares of the company's stock valued at $4,627,000 after purchasing an additional 2,917 shares in the last quarter. Townsquare Capital LLC boosted its position in shares of Sysco by 3.4% during the 4th quarter. Townsquare Capital LLC now owns 19,400 shares of the company's stock valued at $1,483,000 after purchasing an additional 642 shares in the last quarter. Finally, Sagespring Wealth Partners LLC bought a new stake in shares of Sysco during the 4th quarter valued at about $394,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Stock Performance

Shares of Sysco stock traded down $1.71 during trading hours on Friday, reaching $79.49. The company had a trading volume of 3,936,783 shares, compared to its average volume of 3,390,233. Sysco Corporation has a one year low of $67.12 and a one year high of $82.64. The business has a fifty day simple moving average of $77.65 and a 200 day simple moving average of $74.13. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70. The firm has a market cap of $38.53 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 2.52 and a beta of 0.83.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping 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 firm had revenue of $21.14 billion during the quarter, compared to analyst estimates of $21.01 billion. During the same period last year, the company earned $1.39 earnings per share. The business's revenue for the quarter was up 2.8% on a year-over-year basis. On average, analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Sysco

In related news, EVP Ronald L. Phillips sold 6,286 shares of Sysco stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $81.00, for a total transaction of $509,166.00. Following the completion of the sale, the executive vice president owned 34,404 shares of the company's stock, valued at approximately $2,786,724. This trade represents a 15.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Greg D. Bertrand sold 40,000 shares of Sysco 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 sale, the executive vice president directly owned 56,304 shares of the company's stock, valued at $4,504,320. This represents a 41.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 84,026 shares of company stock valued at $6,766,059 in the last three months. 0.54% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on SYY. Citigroup began coverage on Sysco in a research report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 target price on the stock. Wall Street Zen downgraded Sysco from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. UBS Group set a $90.00 price objective on Sysco in a report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price objective on Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday, May 20th. Finally, Bank of America increased their price objective on Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.