Sysco Corporation (NYSE:SYY) Shares Bought by Deutsche Bank AG

Key Points

• Deutsche Bank AG increased its stake in Sysco Corporation by 20.4% to own approximately $127.26 million worth of stock, totaling 1,695,885 shares.
• Several institutional investors have also bought into Sysco recently, with 83.41% of the stock now owned by such investors and hedge funds.
• Analysts maintain a generally positive outlook for Sysco, with a consensus rating of "Moderate Buy" and an average price target of $85.69.

Deutsche Bank AG lifted its position in Sysco Corporation (NYSE:SYY - Free Report) by 20.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,695,885 shares of the company's stock after purchasing an additional 286,788 shares during the quarter. Deutsche Bank AG owned about 0.35% of Sysco worth $127,259,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SYY. Capital Research Global Investors grew its position in Sysco by 27.3% in the fourth quarter. Capital Research Global Investors now owns 8,991,476 shares of the company's stock worth $687,488,000 after acquiring an additional 1,928,002 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of Sysco by 2.0% during the first quarter. Diamond Hill Capital Management Inc. now owns 7,353,551 shares of the company's stock valued at $551,810,000 after buying an additional 146,573 shares during the period. Northern Trust Corp boosted its position in shares of Sysco by 11.6% during the fourth quarter. Northern Trust Corp now owns 5,683,453 shares of the company's stock valued at $434,557,000 after buying an additional 588,844 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Sysco by 19.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,695,636 shares of the company's stock valued at $359,028,000 after buying an additional 777,271 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Sysco by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,283,713 shares of the company's stock valued at $327,533,000 after buying an additional 213,838 shares during the period. 83.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SYY. BMO Capital Markets dropped their target price on Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. JPMorgan Chase & Co. lifted their price target on shares of Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, May 20th. Barclays lifted their price target on shares of Sysco from $77.00 to $82.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. 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. Finally, Citigroup assumed coverage on shares of Sysco in a research note on Thursday, May 22nd. They set a "neutral" rating and a $78.00 price target for the company. 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, the stock currently has an average rating of "Moderate Buy" and an average price target of $85.69.

Sysco Stock Up 1.8%

Shares of SYY traded up $1.46 during midday trading on Wednesday, hitting $82.21. 3,916,344 shares of the company's stock traded hands, compared to its average volume of 3,353,022. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $82.64. The firm's fifty day moving average is $77.21 and its 200-day moving average is $73.99. 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 stock has a market capitalization of $39.85 billion, a price-to-earnings ratio of 22.04, a price-to-earnings-growth ratio of 2.47 and a beta of 0.83.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the business posted $1.39 EPS. The business's revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current year.

Insider Buying and Selling at Sysco

In related news, EVP Ronald L. Phillips sold 37,606 shares of the company'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 directly owned 30,235 shares of the company's stock, valued at $2,449,035. This represents a 55.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the company'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 directly owned 56,304 shares in the company, valued at approximately $4,504,320. The trade was a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,740 shares of company stock worth $6,256,893. 0.54% of the stock is owned by insiders.

About Sysco

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.