Mediolanum International Funds Ltd Sells 16,371 Shares of Sysco Corporation (NYSE:SYY)

Key Points

• Mediolanum International Funds Ltd reduced its stake in Sysco Corporation by 6.6%, selling 16,371 shares and holding a total of 231,556 shares worth approximately $17.16 million at the end of the last reporting period.
• Sysco's earnings per share for the recent quarter were reported at $0.96, missing analyst expectations of $1.02, alongside revenues of $19.60 billion, which fell short of the $20.11 billion forecast.
• Analysts have mixed ratings for Sysco, with a consensus rating of "Moderate Buy" and average price target of $83.23, highlighting varying confidence among investors regarding the company's future performance.

Mediolanum International Funds Ltd lessened its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 6.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 231,556 shares of the company's stock after selling 16,371 shares during the quarter. Mediolanum International Funds Ltd's holdings in Sysco were worth $17,158,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Rialto Wealth Management LLC boosted its holdings in shares of Sysco by 188.7% in the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock worth $25,000 after buying an additional 217 shares during the last quarter. Parvin Asset Management LLC bought a new position in Sysco in the fourth quarter worth approximately $29,000. Golden State Wealth Management LLC boosted its stake in shares of Sysco by 48.4% during the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock worth $32,000 after acquiring an additional 140 shares during the last quarter. Capital A Wealth Management LLC bought a new stake in shares of Sysco during the 4th quarter valued at $34,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Sysco in the 4th quarter worth $35,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Trading Up 0.5%

SYY stock opened at $80.25 on Friday. The firm has a fifty day moving average price of $75.40 and a 200 day moving average price of $73.48. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The firm has a market cap of $38.90 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 2.38 and a beta of 0.81. The company has a debt-to-equity ratio of 6.37, a quick ratio of 0.76 and a current ratio of 1.26.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on SYY shares. Morgan Stanley boosted their price target on Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Guggenheim reissued a "buy" rating and issued a $82.00 target price on shares of Sysco in a report on Tuesday, July 8th. Bank of America raised their target price on shares of Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Sanford C. Bernstein set a $87.00 price target on shares of Sysco and gave the stock an "overweight" rating in a research report on Tuesday, April 22nd. Finally, Barclays decreased their price objective on shares of Sysco from $87.00 to $77.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $83.23.

Insider Activity

In other news, EVP Ronald L. Phillips sold 37,606 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the transaction, the executive vice president owned 30,235 shares of the company's stock, valued at approximately $2,449,035. The trade was a 55.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sheila Talton sold 356 shares of the 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 sale, the director owned 12,738 shares in the company, valued at $902,359.92. The trade was a 2.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,962 shares of company stock valued at $6,271,305 in the last ninety days. Insiders own 0.54% of the company's stock.

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.

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