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Nuveen LLC Takes Position in Sysco Corporation (NYSE:SYY)

Sysco logo with Consumer Staples background

Key Points

  • Nuveen LLC acquired a new stake in Sysco Corporation, purchasing over 1.1 million shares valued at approximately $85.3 million, representing about 0.23% of the company.
  • Recent insider sales included significant transactions by executives Greg D. Bertrand and Ronald L. Phillips, who both reduced their stock holdings by over 40% in July.
  • Analysts have a consensus rating of 'Moderate Buy' for Sysco stock, with an average price target of $85.69, showing a positive outlook amid recent upgrades from various brokerages.
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Nuveen LLC purchased a new stake in Sysco Corporation (NYSE:SYY - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,137,278 shares of the company's stock, valued at approximately $85,341,000. Nuveen LLC owned 0.23% of Sysco at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Aigen Investment Management LP bought a new stake in shares of Sysco in the first quarter valued at approximately $2,986,000. Virtu Financial LLC purchased a new stake in shares of Sysco in the first quarter worth about $604,000. Entropy Technologies LP purchased a new stake in shares of Sysco in the first quarter worth about $3,287,000. Invesco Ltd. lifted its holdings in shares of Sysco by 1.0% in the first quarter. Invesco Ltd. now owns 17,070,502 shares of the company's stock worth $1,280,970,000 after buying an additional 162,961 shares in the last quarter. Finally, Fiduciary Family Office LLC purchased a new stake in Sysco in the first quarter valued at approximately $684,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Insider Buying and Selling at Sysco

In related news, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total value of $3,200,000.00. Following the sale, the executive vice president owned 56,304 shares in the company, valued at $4,504,320. The trade was a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ronald L. Phillips sold 6,286 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $81.00, for a total transaction of $509,166.00. Following the sale, the executive vice president owned 34,404 shares in the company, valued at approximately $2,786,724. This trade represents a 15.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,026 shares of company stock worth $6,766,059. 0.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SYY has been the topic of a number of recent analyst reports. Morgan Stanley raised their target price on shares of Sysco from $72.00 to $77.00 and gave the company 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 note on Wednesday, July 30th. Bank of America raised their target price on shares of Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Wall Street Zen downgraded shares of Sysco from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Finally, BMO Capital Markets reduced their price target on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $85.69.

Get Our Latest Stock Analysis on SYY

Sysco Trading Down 2.1%

Shares of NYSE SYY traded down $1.71 during mid-day trading on Friday, hitting $79.49. The stock had a trading volume of 3,936,783 shares, compared to its average volume of 3,390,233. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $82.64. The business has a 50 day moving average price of $77.65 and a two-hundred day moving average price of $74.14. The firm has a market cap of $38.53 billion, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 2.46 and a beta of 0.83.

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

Sysco Company Profile

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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