Sysco Corporation (NYSE:SYY) Shares Sold by Schnieders Capital Management LLC

Key Points

• Schnieders Capital Management LLC has reduced its stake in Sysco Corporation by 46.3%, ending with 8,310 shares valued at $624,000 after selling 7,155 shares in the first quarter.
• Several other hedge funds have increased their holdings in Sysco, with Capital Research Global Investors boosting their position by 27.3% and now owning approximately $687.5 million in shares.
• Sysco recently reported a quarterly EPS of $1.48, exceeding expectations, with revenue of $21.14 billion, indicating a 2.8% year-over-year increase in income.

Schnieders Capital Management LLC lowered its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 46.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,310 shares of the company's stock after selling 7,155 shares during the quarter. Schnieders Capital Management LLC's holdings in Sysco were worth $624,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rialto Wealth Management LLC raised its stake in shares of Sysco by 188.7% in the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock valued at $25,000 after acquiring an additional 217 shares during the period. Parvin Asset Management LLC purchased a new position in Sysco in the 4th quarter worth about $29,000. Golden State Wealth Management LLC increased its stake in Sysco by 48.4% in the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock worth $32,000 after buying an additional 140 shares during the period. N.E.W. Advisory Services LLC purchased a new position in Sysco in the 1st quarter worth about $33,000. Finally, Capital A Wealth Management LLC purchased a new position in Sysco in the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 83.41% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SYY shares. UBS Group set a $90.00 price target on shares of Sysco in a research note on Wednesday, July 30th. Wall Street Zen downgraded shares of Sysco from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Morgan Stanley raised their price target on shares of Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. BMO Capital Markets reduced their price target on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Finally, Bank of America raised their price target on shares of Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $85.69.

Sysco Stock Up 0.3%

Shares of NYSE:SYY traded up $0.27 during trading on Friday, reaching $80.64. The stock had a trading volume of 3,584,571 shares, compared to its average volume of 3,354,334. Sysco Corporation has a one year low of $67.12 and a one year high of $82.23. The company has a market capitalization of $39.09 billion, a P/E ratio of 21.62, a PEG ratio of 2.52 and a beta of 0.83. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75. The firm's 50-day simple moving average is $76.78 and its 200 day simple moving average is $73.85.

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

Insider Transactions at Sysco

In other news, EVP Ronald L. Phillips sold 37,606 shares of the firm's stock in a transaction dated 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 sale, the executive vice president directly owned 30,235 shares in the company, valued at approximately $2,449,035. This trade represents a 55.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the completion of the sale, the executive vice president owned 56,304 shares in the company, valued at $4,504,320. This represents a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

Sysco 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.