RiverGlades Family Offices LLC Buys New Stake in Sysco Corporation (NYSE:SYY)

Key Points

• RiverGlades Family Offices LLC acquired a new stake in Sysco Corporation, purchasing 4,300 shares valued at approximately $323,000 in Q1, according to a Form 13F filing.
• In recent institutional trading, Capital Research Global Investors increased its stake by 27.3%, while Canoe Financial LP grew its position by a staggering 29,610.4%.
• Sysco's recent earnings report showed an EPS of $1.48, exceeding estimates and reflecting a 2.8% revenue growth year-over-year.

RiverGlades Family Offices LLC bought a new stake in Sysco Corporation (NYSE:SYY - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,300 shares of the company's stock, valued at approximately $323,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Capital Research Global Investors lifted its position in shares of Sysco by 27.3% during the fourth quarter. Capital Research Global Investors now owns 8,991,476 shares of the company's stock worth $687,488,000 after purchasing an additional 1,928,002 shares during the last quarter. Canoe Financial LP lifted its position in shares of Sysco by 29,610.4% during the first quarter. Canoe Financial LP now owns 1,431,149 shares of the company's stock worth $107,393,000 after purchasing an additional 1,426,332 shares during the last quarter. Burgundy Asset Management Ltd. lifted its position in shares of Sysco by 251.6% during the fourth quarter. Burgundy Asset Management Ltd. now owns 1,452,073 shares of the company's stock worth $111,026,000 after purchasing an additional 1,039,088 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Sysco by 9,792.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 980,616 shares of the company's stock worth $74,978,000 after purchasing an additional 970,703 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its position in shares of Sysco by 1,940.1% during the first quarter. Mackenzie Financial Corp now owns 1,016,660 shares of the company's stock worth $76,290,000 after purchasing an additional 966,826 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Price Performance

Shares of SYY stock opened at $81.35 on Thursday. 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 capitalization of $39.44 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 2.46 and a beta of 0.83. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. The stock's 50-day simple moving average is $76.62 and its 200-day simple moving average is $73.80.

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 analysts' consensus estimates of $1.39 by $0.09. Sysco had a return on equity of 109.52% and a net margin of 2.25%. The firm had revenue of $21.14 billion during the quarter, compared to the consensus estimate of $21.01 billion. During the same quarter in the previous year, the company posted $1.39 earnings per share. The company's revenue was up 2.8% compared to the same quarter last year. As a group, equities analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SYY. Bank of America lifted their target price on Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Wells Fargo & Company set a $88.00 target price on Sysco and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Citigroup initiated coverage on Sysco in a report on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday, May 20th. Finally, UBS Group set a $90.00 price objective on Sysco in a report on Wednesday, July 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 MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $85.69.

Insider Buying and Selling

In other Sysco news, EVP Greg D. Bertrand sold 40,000 shares of the business's stock in a transaction that occurred on 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 directly owned 56,304 shares of the company's stock, valued at approximately $4,504,320. The trade was a 41.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ronald L. Phillips sold 37,606 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The shares were 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 $2,449,035. The trade was a 55.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company's stock.

Sysco Company Profile

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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