Sysco Corporation (NYSE:SYY) Shares Bought by Boston Partners

Key Points

• Boston Partners increased its stake in Sysco Corporation by 24.8%, owning 15.2 million shares valued at approximately $1.14 billion, making it the firm's 6th largest position.
• Sysco reported a net revenue of $21.14 billion for the last quarter, exceeding expectations, with earnings per share of $1.48, surpassing the consensus estimate by $0.09.
• Analysts have raised their price targets for Sysco shares, with Bank of America setting a target of **$93.00** and multiple firms providing a "buy" rating, reflecting a strong positive outlook for the stock.

Boston Partners raised its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 24.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 15,199,828 shares of the company's stock after purchasing an additional 3,015,714 shares during the period. Sysco accounts for about 1.4% of Boston Partners' investment portfolio, making the stock its 6th biggest holding. Boston Partners owned approximately 3.14% of Sysco worth $1,139,798,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Capital Research Global Investors boosted its stake in Sysco by 27.3% during the fourth quarter. Capital Research Global Investors now owns 8,991,476 shares of the company's stock valued at $687,488,000 after buying an additional 1,928,002 shares during the last quarter. Canoe Financial LP boosted its stake in Sysco by 29,610.4% during the first quarter. Canoe Financial LP now owns 1,431,149 shares of the company's stock valued at $107,393,000 after buying an additional 1,426,332 shares during the last quarter. Nuveen LLC bought a new position in Sysco during the first quarter valued at approximately $85,341,000. Burgundy Asset Management Ltd. boosted its stake in Sysco by 251.6% during the fourth quarter. Burgundy Asset Management Ltd. now owns 1,452,073 shares of the company's stock valued at $111,026,000 after buying an additional 1,039,088 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in 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 valued at $74,978,000 after buying an additional 970,703 shares during the last quarter. Institutional investors own 83.41% of the company's stock.

Sysco Trading Down 2.1%

SYY traded down $1.71 during trading on Friday, hitting $79.49. 3,936,783 shares of the stock were exchanged, compared to its average volume of 3,390,233. The firm has a 50 day simple moving average of $77.65 and a 200 day simple moving average of $74.14. The firm has a market cap of $38.53 billion, a price-to-earnings ratio of 21.31, a P/E/G ratio of 2.46 and a beta of 0.83. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $82.64. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SYY shares. BMO Capital Markets decreased their price objective on Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Barclays upped their price objective on Sysco from $77.00 to $82.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Morgan Stanley upped their price objective on Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. Bank of America upped their price objective on Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, Guggenheim upped their price objective on Sysco from $85.00 to $87.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $85.69.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 40,000 shares of the stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the sale, the executive vice president owned 56,304 shares of the company's stock, valued at approximately $4,504,320. This trade represents a 41.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ronald L. Phillips sold 6,286 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $81.00, for a total value of $509,166.00. Following the sale, the executive vice president directly owned 34,404 shares in the company, valued at $2,786,724. This trade represents a 15.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 84,026 shares of company stock worth $6,766,059 in the last ninety days. Insiders own 0.54% of the company's stock.

About Sysco

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.