Royal Bank of Canada Purchases 1,326,600 Shares of Sysco Corporation $SYY

Royal Bank of Canada boosted its position in Sysco Corporation (NYSE:SYY - Free Report) by 128.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,357,585 shares of the company's stock after buying an additional 1,326,600 shares during the period. Royal Bank of Canada owned approximately 0.49% of Sysco worth $168,166,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Lloyd Advisory Services LLC. acquired a new position in shares of Sysco in the 4th quarter valued at about $25,000. Motiv8 Investments LLC acquired a new stake in Sysco during the fourth quarter worth approximately $25,000. Bard Associates Inc. bought a new stake in Sysco in the fourth quarter worth approximately $27,000. Torren Management LLC acquired a new position in Sysco in the fourth quarter valued at approximately $27,000. Finally, Elyxium Wealth LLC bought a new position in shares of Sysco during the 4th quarter worth approximately $28,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SYY. Morgan Stanley raised their price objective on shares of Sysco from $84.00 to $88.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 16th. Wall Street Zen lowered shares of Sysco from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. UBS Group reduced their price target on shares of Sysco from $95.00 to $90.00 and set a "buy" rating for the company in a report on Thursday, April 2nd. Barclays dropped their price objective on shares of Sysco from $92.00 to $86.00 and set an "overweight" rating on the stock in a report on Wednesday, April 29th. Finally, Melius Research cut shares of Sysco from a "hold" rating to a "sell" rating in a research report on Tuesday, July 7th. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $88.00.

Insider Buying and Selling at Sysco

In other Sysco news, Director John M. Hinshaw purchased 13,304 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the transaction, the director owned 40,200 shares in the company, valued at $3,021,834. The trade was a 49.46% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is owned by corporate insiders.

Sysco Stock Performance

NYSE SYY opened at $84.65 on Friday. The company has a market cap of $40.53 billion, a P/E ratio of 23.45, a PEG ratio of 3.36 and a beta of 0.64. The company has a fifty day simple moving average of $80.28 and a 200 day simple moving average of $80.10. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 5.58. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). The business had revenue of $20.52 billion for the quarter, compared to analyst estimates of $20.56 billion. Sysco had a return on equity of 103.57% and a net margin of 2.08%.The business's quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.96 EPS. Sell-side analysts predict that Sysco Corporation will post 4.59 earnings per share for the current fiscal year.

Sysco Company 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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