Quantinno Capital Management LP Grows Stock Holdings in Sysco Corporation $SYY

Key Points

• Quantinno Capital Management increased its Sysco stake by 17.8% in the first quarter, adding 45,706 shares to reach 302,531 shares valued at approximately $21.6 million.
• Institutional ownership remains high at 83.41%, with major investors including Norges Bank, Wellington Management, Goldman Sachs and Marshall Wace expanding or initiating positions.
• Sysco shares opened at $85.31, near analysts’ average price target of $88.00. Despite Morgan Stanley raising its target to $88, the overall analyst consensus remains “Hold.”

Quantinno Capital Management LP increased its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 17.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 302,531 shares of the company's stock after purchasing an additional 45,706 shares during the period. Quantinno Capital Management LP owned 0.06% of Sysco worth $21,580,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SYY. Norges Bank acquired a new position in shares of Sysco during the 4th quarter worth about $542,780,000. Wellington Management Group LLP raised its position in shares of Sysco by 3,977.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company's stock worth $387,935,000 after acquiring an additional 4,595,819 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Sysco by 45.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,651,682 shares of the company's stock worth $416,472,000 after purchasing an additional 1,754,306 shares during the last quarter. Marshall Wace LLP lifted its stake in Sysco by 102.6% during the third quarter. Marshall Wace LLP now owns 2,359,471 shares of the company's stock worth $194,279,000 after purchasing an additional 1,194,815 shares during the last quarter. Finally, Suvretta Capital Management LLC acquired a new position in Sysco in the fourth quarter valued at approximately $79,864,000. Hedge funds and other institutional investors own 83.41% of the company's stock.

Insider Activity

In other Sysco news, Director John M. Hinshaw bought 13,304 shares of the stock in a transaction dated Tuesday, May 26th. The shares were acquired at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the completion of the transaction, the director owned 40,200 shares in the company, valued at approximately $3,021,834. The trade was a 49.46% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.56% of the company's stock.

Sysco Trading Up 0.7%

SYY opened at $85.31 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 5.58. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85. The business's 50 day moving average is $80.46 and its two-hundred day moving average is $80.14. The firm has a market cap of $40.84 billion, a price-to-earnings ratio of 23.63, a price-to-earnings-growth ratio of 3.36 and a beta of 0.64.

Analyst Upgrades and Downgrades

SYY has been the topic of several recent analyst reports. Morgan Stanley increased their price target on shares of Sysco from $84.00 to $88.00 and gave the company an "equal weight" rating in a research note on Thursday, July 16th. Deutsche Bank Aktiengesellschaft cut shares of Sysco from a "buy" rating to a "hold" rating and set a $84.00 target price for the company. in a report on Tuesday, April 28th. Wall Street Zen downgraded shares of Sysco from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Citigroup reiterated a "neutral" rating on shares of Sysco in a research note on Wednesday, July 22nd. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Sysco in a research report on Friday, June 26th. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $88.00.

Sysco Profile

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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