Pacer Advisors Inc. Sells 18,724 Shares of Sysco Corporation (NYSE:SYY)

Key Points

• Pacer Advisors Inc. reduced its stake in Sysco Corporation by 30.6% in the first quarter, now holding a total of 42,467 shares valued at approximately $3.19 million.
• Recent insider transactions include Director Sheila Talton selling 356 shares for over $25,000 and EVP Ronald L. Phillips selling 37,606 shares worth approximately $3 million, indicating significant insider activity.
• Sysco stock traded down to $78.49, with a market cap of $38.05 billion, and the company recently reported an EPS of $1.48, beating estimates by $0.09.

Pacer Advisors Inc. decreased its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 30.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,467 shares of the company's stock after selling 18,724 shares during the quarter. Pacer Advisors Inc.'s holdings in Sysco were worth $3,187,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SYY. Rialto Wealth Management LLC lifted its stake in 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 acquiring an additional 217 shares during the period. Parvin Asset Management LLC purchased a new stake in Sysco in the fourth quarter worth $29,000. Golden State Wealth Management LLC lifted its stake in Sysco by 48.4% in the first 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 period. Capital A Wealth Management LLC purchased a new stake in Sysco in the fourth quarter worth $34,000. Finally, Ameriflex Group Inc. purchased a new stake in Sysco in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 83.41% of the company's stock.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 40,000 shares of the business's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total value 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 approximately $4,504,320. The trade was a 41.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ronald L. Phillips sold 37,606 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total value 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. This trade represents a 55.43% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company's stock.

Sysco Stock Performance

Sysco stock remained flat at $79.60 during mid-day trading on Friday. The company's stock had a trading volume of 837,216 shares, compared to its average volume of 3,329,004. The company has a quick ratio of 0.76, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. The business has a 50 day simple moving average of $75.96 and a 200 day simple moving average of $73.63. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $82.23. The company has a market capitalization of $38.59 billion, a P/E ratio of 21.35, a PEG ratio of 2.46 and a beta of 0.81.

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

Analysts Set New Price Targets

A number of analysts recently commented on SYY shares. Citigroup started coverage on Sysco in a research note on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 price target for the company. Truist Financial upped their price target on Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday. BMO Capital Markets reduced their price target on Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. UBS Group set a $90.00 price target on Sysco in a research note on Wednesday. Finally, Barclays upped their price target on Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $85.54.

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.