Lombard Odier Asset Management Europe Ltd Sells 84,412 Shares of Sysco Corporation $SYY

Key Points

• Lombard Odier Asset Management Europe reduced its Sysco position by 56.9%, selling 84,412 shares and retaining 64,017 shares valued at approximately $4.57 million. Institutional investors collectively own 83.41% of Sysco’s stock.
• Analyst sentiment is mixed but leans toward “Hold”: MarketBeat reports a consensus target price of $88, with eight Buy, seven Hold, and one Sell rating. Several firms recently lowered their price targets or downgraded the stock.
• Sysco shares opened at $85.31, near the consensus target, while Director John M. Hinshaw purchased 13,304 shares worth about $1 million in May, increasing his direct ownership by 49.46%.

Lombard Odier Asset Management Europe Ltd lessened its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 56.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 64,017 shares of the company's stock after selling 84,412 shares during the quarter. Lombard Odier Asset Management Europe Ltd's holdings in Sysco were worth $4,566,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in SYY. Montag A & Associates Inc. lifted its holdings in shares of Sysco by 1.4% in the 4th quarter. Montag A & Associates Inc. now owns 8,743 shares of the company's stock worth $644,000 after buying an additional 123 shares during the period. United Community Bank raised its holdings in shares of Sysco by 11.4% in the fourth quarter. United Community Bank now owns 1,224 shares of the company's stock valued at $90,000 after acquiring an additional 125 shares in the last quarter. First Citizens Bank & Trust Co. lifted its stake in Sysco by 1.2% in the fourth quarter. First Citizens Bank & Trust Co. now owns 11,224 shares of the company's stock worth $827,000 after acquiring an additional 138 shares during the period. Octavia Wealth Advisors LLC grew its holdings in Sysco by 4.6% during the 4th quarter. Octavia Wealth Advisors LLC now owns 3,231 shares of the company's stock worth $237,000 after acquiring an additional 141 shares in the last quarter. Finally, Diversify Wealth Management LLC increased its position in Sysco by 1.6% during the 4th quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company's stock valued at $698,000 after purchasing an additional 143 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SYY has been the subject of several research reports. Sanford C. Bernstein lowered their price target on shares of Sysco from $90.00 to $85.00 and set a "market perform" rating for the company in a research report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft downgraded shares of Sysco from a "buy" rating to a "hold" rating and set a $84.00 price objective for the company. in a research note on Tuesday, April 28th. Barclays dropped their target price on Sysco from $92.00 to $86.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 29th. Wall Street Zen lowered Sysco from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Sysco in a research report on Friday, June 26th. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $88.00.

Sysco Trading Up 0.1%

Shares of NYSE:SYY opened at $85.31 on Monday. The business's 50-day moving average is $80.46 and its 200 day moving average is $80.18. The company has a debt-to-equity ratio of 5.58, a current ratio of 1.33 and a quick ratio of 0.80. Sysco Corporation has a 1 year low of $68.19 and a 1 year high of $91.85. The firm has a market capitalization of $40.84 billion, a P/E ratio of 23.63, a P/E/G ratio of 3.36 and a beta of 0.64.

Insider Buying and Selling at Sysco

In related news, Director John M. Hinshaw acquired 13,304 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were purchased at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the acquisition, the director directly owned 40,200 shares of the company's stock, valued at $3,021,834. This represents a 49.46% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.56% of the stock is owned by company insiders.

About Sysco

Sysco Corporation NYSE: SYY is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.

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