Keeler Thomas Management LLC Has $1.72 Million Position in Sysco Corporation (NYSE:SYY)

Key Points

• Keeler Thomas Management LLC reduced its holdings in Sysco Corporation by 56.9%, ending the first quarter with 22,885 shares valued at approximately $1.72 million.
• Executive Vice Presidents Ronald L. Phillips and Greg D. Bertrand sold significant portions of their shares, with Phillips selling 37,606 shares for over $3 million, representing a 55.43% decrease in his position.
• Analysts have mixed ratings on Sysco; Morgan Stanley raised its price target to $77 while Wells Fargo set a more aggressive target of $88, reflecting diverse outlooks among brokerage firms.

Keeler Thomas Management LLC lessened its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 56.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 22,885 shares of the company's stock after selling 30,164 shares during the period. Keeler Thomas Management LLC's holdings in Sysco were worth $1,717,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Rialto Wealth Management LLC grew its holdings in Sysco by 188.7% during the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock worth $25,000 after acquiring an additional 217 shares during the last quarter. Parvin Asset Management LLC acquired a new position in shares of Sysco during the fourth quarter worth approximately $29,000. Golden State Wealth Management LLC grew its stake in shares of Sysco by 48.4% during the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after purchasing an additional 140 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Sysco during the first quarter valued at approximately $33,000. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Sysco in the fourth quarter valued at approximately $34,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Sysco news, EVP Ronald L. Phillips sold 37,606 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president directly owned 30,235 shares in the company, valued at approximately $2,449,035. This trade represents a 55.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Greg D. Bertrand sold 40,000 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the completion of the transaction, the executive vice president owned 56,304 shares of the company's stock, valued at $4,504,320. This trade represents a 41.54% decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on SYY. Morgan Stanley increased their price objective on Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. Wall Street Zen cut Sysco from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Wells Fargo & Company set a $88.00 price objective on Sysco and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Truist Financial upped their target price on shares of Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Finally, Citigroup assumed coverage on shares of Sysco in a research report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $85.69.

Sysco Price Performance

Shares of SYY stock opened at $81.35 on Thursday. The firm has a market capitalization of $39.44 billion, a price-to-earnings ratio of 21.81, a price-to-earnings-growth ratio of 2.46 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 company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. The firm has a fifty day moving average of $76.62 and a 200-day moving average of $73.80.

Sysco (NYSE:SYY - Get Free Report) last posted its earnings results 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. The firm had revenue of $21.14 billion during the quarter, compared to analysts' expectations of $21.01 billion. Sysco had a return on equity of 109.52% and a net margin of 2.25%. The company's revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.39 earnings per share. On average, equities research analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current year.

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.

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