IFP Advisors Inc Boosts Stock Position in Sysco Corporation (NYSE:SYY)

IFP Advisors Inc lifted its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 23.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,711 shares of the company's stock after purchasing an additional 6,468 shares during the period. IFP Advisors Inc's holdings in Sysco were worth $2,531,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SYY. Rialto Wealth Management LLC lifted its position in shares of Sysco by 188.7% during the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock worth $25,000 after purchasing an additional 217 shares during the last quarter. Parvin Asset Management LLC acquired a new position in Sysco in the fourth quarter valued at $29,000. Golden State Wealth Management LLC grew its holdings in shares of Sysco by 48.4% during the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock worth $32,000 after purchasing an additional 140 shares during the last quarter. Capital A Wealth Management LLC acquired a new stake in shares of Sysco during the fourth quarter worth about $34,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Sysco in the 4th quarter valued at about $35,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on SYY shares. Sanford C. Bernstein set a $87.00 target price on Sysco and gave the company an "overweight" rating in a report on Tuesday, April 22nd. Morgan Stanley raised their target price on shares of Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Wall Street Zen lowered shares of Sysco from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Citigroup started coverage on shares of Sysco in a research report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 target price on the stock. Finally, UBS Group reduced their target price on shares of Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, Sysco presently has an average rating of "Moderate Buy" and a consensus price target of $83.23.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 37,606 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the transaction, the executive vice president directly owned 30,235 shares in the company, valued at approximately $2,449,035. This represents a 55.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Greg D. Bertrand sold 40,000 shares of the company's stock in a transaction dated 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 transaction, the executive vice president owned 56,304 shares in the company, valued at $4,504,320. The trade was a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,962 shares of company stock valued at $6,271,305. 0.54% of the stock is owned by company insiders.

Sysco Stock Performance

Shares of Sysco stock traded up $0.44 on Friday, reaching $80.30. 767,288 shares of the stock were exchanged, compared to its average volume of 3,290,308. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $82.23. 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 business has a fifty day moving average price of $75.25 and a two-hundred day moving average price of $73.44. The firm has a market capitalization of $38.93 billion, a PE ratio of 20.80, a PEG ratio of 2.41 and a beta of 0.81.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analyst estimates of $20.11 billion. During the same quarter last year, the firm earned $0.96 earnings per share. The company's revenue was up 1.1% compared to the same quarter last year. As a group, research analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

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.