Sysco Corporation (NYSE:SYY) is RWC Asset Management LLP's 10th Largest Position

Key Points

• RWC Asset Management LLP reduced its stake in Sysco Corporation by 4.3%, owning 618,760 shares worth approximately $46.43 million, making it the 10th largest position in their portfolio.
• Several institutional investors have increased their stake in Sysco recently, with 83.41% of the stock now owned by institutional investors.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Sysco, with an average target price of $83.23 and multiple analysts issuing buy ratings.

RWC Asset Management LLP lowered its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 4.3% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 618,760 shares of the company's stock after selling 27,977 shares during the quarter. Sysco comprises about 2.4% of RWC Asset Management LLP's portfolio, making the stock its 10th largest position. RWC Asset Management LLP owned about 0.13% of Sysco worth $46,432,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NorthCrest Asset Manangement LLC lifted its holdings in shares of Sysco by 4.9% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 2,956 shares of the company's stock valued at $226,000 after buying an additional 139 shares during the period. Golden State Wealth Management LLC lifted its holdings in shares of Sysco by 48.4% in the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after buying an additional 140 shares during the period. MV Capital Management Inc. lifted its holdings in shares of Sysco by 0.4% in the 4th quarter. MV Capital Management Inc. now owns 34,330 shares of the company's stock valued at $2,625,000 after buying an additional 144 shares during the period. Nemes Rush Group LLC lifted its holdings in shares of Sysco by 5.9% in the 4th quarter. Nemes Rush Group LLC now owns 2,631 shares of the company's stock valued at $201,000 after buying an additional 147 shares during the period. Finally, One Wealth Advisors LLC lifted its holdings in shares of Sysco by 3.3% in the 1st quarter. One Wealth Advisors LLC now owns 4,698 shares of the company's stock valued at $353,000 after buying an additional 151 shares during the period. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Price Performance

NYSE:SYY traded up $0.06 during trading hours on Monday, hitting $80.36. 4,450,648 shares of the stock were exchanged, compared to its average volume of 2,545,264. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $82.23. The firm's fifty day moving average price is $75.55 and its 200 day moving average price is $73.51. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 6.37. The company has a market cap of $38.95 billion, a P/E ratio of 20.82, a P/E/G ratio of 2.37 and a beta of 0.81.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a return on equity of 107.96% and a net margin of 2.36%. The firm had revenue of $19.60 billion for the quarter, compared to analysts' expectations of $20.11 billion. During the same quarter last year, the firm posted $0.96 earnings per share. Sysco's quarterly revenue was up 1.1% on a year-over-year basis. As a group, equities research analysts anticipate that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SYY shares. Wells Fargo & Company decreased their price objective on Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. UBS Group boosted their price objective on Sysco from $83.00 to $91.00 and gave the company a "buy" rating in a report on Monday. JPMorgan Chase & Co. upped their price target on Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, May 20th. Barclays reduced their price target on Sysco from $87.00 to $77.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Finally, BMO Capital Markets reduced their price target on Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $83.85.

Insider Activity

In other news, Director Sheila Talton sold 356 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total value of $25,219.04. Following the completion of the sale, the director directly owned 12,738 shares in the company, valued at $902,359.92. This represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Greg D. Bertrand sold 40,000 shares of the company's stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 56,304 shares of the company's stock, valued at $4,504,320. This trade represents a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,962 shares of company stock worth $6,271,305 over the last ninety days. Corporate 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.