GW&K Investment Management LLC Lowers Stake in Sysco Corporation (NYSE:SYY)

GW&K Investment Management LLC cut its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 97.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,306 shares of the company's stock after selling 214,304 shares during the period. GW&K Investment Management LLC's holdings in Sysco were worth $398,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. LPL Financial LLC raised its position in Sysco by 1.8% during the fourth quarter. LPL Financial LLC now owns 501,726 shares of the company's stock valued at $38,362,000 after purchasing an additional 9,012 shares in the last quarter. Congress Wealth Management LLC DE raised its position in Sysco by 7.3% during the fourth quarter. Congress Wealth Management LLC DE now owns 12,021 shares of the company's stock valued at $866,000 after purchasing an additional 813 shares in the last quarter. Modern Wealth Management LLC grew its stake in shares of Sysco by 12.0% during the fourth quarter. Modern Wealth Management LLC now owns 10,552 shares of the company's stock worth $741,000 after buying an additional 1,133 shares during the last quarter. FineMark National Bank & Trust grew its stake in shares of Sysco by 1.8% during the fourth quarter. FineMark National Bank & Trust now owns 8,580 shares of the company's stock worth $656,000 after buying an additional 149 shares during the last quarter. Finally, Zions Bancorporation N.A. grew its stake in shares of Sysco by 12.8% during the fourth quarter. Zions Bancorporation N.A. now owns 1,591 shares of the company's stock worth $122,000 after buying an additional 180 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Performance

Shares of Sysco stock traded down $0.82 on Thursday, reaching $79.94. 2,707,704 shares of the company traded hands, compared to its average volume of 2,552,883. The company has a 50 day moving average of $75.25 and a 200 day moving average of $73.44. The firm has a market capitalization of $38.75 billion, a PE ratio of 20.71, a PEG ratio of 2.41 and a beta of 0.81. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $82.23. The company has a debt-to-equity ratio of 6.37, a current ratio of 1.26 and a quick ratio of 0.76.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.06). The business had revenue of $19.60 billion during the quarter, compared to the consensus estimate of $20.11 billion. Sysco had a return on equity of 107.96% and a net margin of 2.36%. The firm's quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the business posted $0.96 earnings per share. Equities analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SYY shares. Wells Fargo & Company reduced their price objective on shares of Sysco from $87.00 to $80.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. UBS Group dropped their target price on shares of Sysco from $86.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Barclays dropped their target price on shares of Sysco from $87.00 to $77.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Guggenheim restated a "buy" rating and issued a $82.00 target price on shares of Sysco in a report on Tuesday, July 8th. Finally, Citigroup began coverage on shares of Sysco in a report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.23.

Insider Buying and Selling at Sysco

In other Sysco news, Director Sheila Talton sold 356 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total value of $25,219.04. Following the completion of the transaction, the director directly owned 12,738 shares of the company's stock, valued at $902,359.92. This trade represents a 2.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ronald L. Phillips sold 37,606 shares of the firm's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the completion of the transaction, the executive vice president directly owned 30,235 shares of the company's stock, valued at approximately $2,449,035. The trade was a 55.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 77,962 shares of company stock valued at $6,271,305 in the last three months. Company insiders own 0.54% of the company's stock.

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.