Everett Harris & Co. CA Sells 4,410 Shares of Sysco Corporation (NYSE:SYY)

Key Points

• Everett Harris & Co. CA sold 4,410 shares of Sysco Corporation, reducing its stake by 7.9%, leaving the firm with 51,598 shares valued at approximately $3.87 million.
• Sysco Corporation reported $1.48 EPS for the last quarter, exceeding the consensus estimate, with revenues of $21.14 billion, marking a 2.8% increase from the previous year.
• Several institutional investors have recently altered their positions in Sysco, with 83.41% of the stock now owned by institutional investors, indicating significant interest in the company's performance.

Everett Harris & Co. CA trimmed its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 7.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,598 shares of the company's stock after selling 4,410 shares during the quarter. Everett Harris & Co. CA's holdings in Sysco were worth $3,872,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Russell Investments Group Ltd. grew its stake in shares of Sysco by 11.8% in the 4th quarter. Russell Investments Group Ltd. now owns 271,954 shares of the company's stock worth $20,793,000 after purchasing an additional 28,629 shares during the last quarter. APG Asset Management N.V. acquired a new position in shares of Sysco in the 4th quarter worth approximately $19,818,000. Bessemer Group Inc. grew its stake in shares of Sysco by 44.7% in the 4th quarter. Bessemer Group Inc. now owns 9,196 shares of the company's stock worth $703,000 after purchasing an additional 2,839 shares during the last quarter. F M Investments LLC grew its stake in shares of Sysco by 59.5% in the 4th quarter. F M Investments LLC now owns 35,154 shares of the company's stock worth $2,688,000 after purchasing an additional 13,113 shares during the last quarter. Finally, Act Two Investors LLC grew its stake in shares of Sysco by 411.4% in the 4th quarter. Act Two Investors LLC now owns 317,993 shares of the company's stock worth $24,314,000 after purchasing an additional 255,815 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.

Insider Activity at Sysco

In other news, EVP Ronald L. Phillips sold 37,606 shares of the business's stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the business's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the completion of the sale, the executive vice president owned 56,304 shares of the company's stock, valued at $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. Insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. UBS Group set a $90.00 target price on shares of Sysco in a research report on Wednesday, July 30th. Wall Street Zen downgraded shares of Sysco from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Guggenheim lifted their target price on shares of Sysco from $85.00 to $87.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Sanford C. Bernstein set a $87.00 target price on shares of Sysco and gave the stock an "overweight" rating in a research report on Tuesday, April 22nd. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Sysco has an average rating of "Moderate Buy" and a consensus price target of $85.69.

Sysco Stock Up 0.3%

SYY stock traded up $0.27 during trading hours on Friday, hitting $80.64. The company's stock had a trading volume of 3,584,571 shares, compared to its average volume of 3,329,106. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. The company has a market capitalization of $39.09 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 2.50 and a beta of 0.83. Sysco Corporation has a 12 month low of $67.12 and a 12 month high of $82.23. The stock has a 50 day moving average price of $76.94 and a two-hundred day moving average price of $73.91.

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

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.