Sysco Corporation (NYSE:SYY) Shares Purchased by Empower Advisory Group LLC

Key Points

• Empower Advisory Group LLC increased its stake in Sysco Corporation by 4.3%, owning approximately 1,099,718 shares valued at $82.5 million, while institutional investors hold 83.41% of Sysco's stock.
• Sysco's recent earnings report showed an EPS of $1.48, surpassing estimates, with a revenue of $21.14 billion representing a year-over-year increase of 2.8%.
• Analysts have varying price targets for Sysco stock, with estimates ranging from $77.00 to $88.00 and an average consensus rating of "Moderate Buy."

Empower Advisory Group LLC grew its position in Sysco Corporation (NYSE:SYY - Free Report) by 4.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,099,718 shares of the company's stock after acquiring an additional 45,270 shares during the period. Empower Advisory Group LLC owned about 0.23% of Sysco worth $82,523,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SYY. Capital Research Global Investors raised its position in shares of Sysco by 27.3% in the fourth quarter. Capital Research Global Investors now owns 8,991,476 shares of the company's stock worth $687,488,000 after acquiring an additional 1,928,002 shares during the period. Canoe Financial LP raised its position in shares of Sysco by 29,610.4% in the first quarter. Canoe Financial LP now owns 1,431,149 shares of the company's stock worth $107,393,000 after acquiring an additional 1,426,332 shares during the period. Burgundy Asset Management Ltd. raised its position in shares of Sysco by 251.6% in the fourth quarter. Burgundy Asset Management Ltd. now owns 1,452,073 shares of the company's stock worth $111,026,000 after acquiring an additional 1,039,088 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Sysco by 9,792.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 980,616 shares of the company's stock worth $74,978,000 after acquiring an additional 970,703 shares during the period. Finally, Mackenzie Financial Corp raised its position in shares of Sysco by 1,940.1% in the first quarter. Mackenzie Financial Corp now owns 1,016,660 shares of the company's stock worth $76,290,000 after acquiring an additional 966,826 shares during the period. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Trading Up 0.3%

Shares of Sysco stock traded up $0.27 during mid-day trading on Friday, hitting $80.64. The stock had a trading volume of 3,584,571 shares, compared to its average volume of 3,329,106. The firm has a 50-day moving average of $76.94 and a two-hundred day moving average of $73.90. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $82.23. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. The firm has a market cap of $39.09 billion, a P/E ratio of 21.62, a price-to-earnings-growth ratio of 2.49 and a beta of 0.83.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $21.01 billion. During the same quarter in the prior year, the company posted $1.39 EPS. The business's revenue for the quarter was up 2.8% on a year-over-year basis. Sell-side analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current year.

Insider Activity at Sysco

In other news, EVP Greg D. Bertrand sold 40,000 shares of the 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 represents a 41.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Ronald L. Phillips sold 37,606 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the completion of the transaction, the executive vice president 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 disclosure for this sale can be found here. Corporate insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

SYY has been the subject of a number of research reports. Guggenheim boosted their target price on shares of Sysco from $85.00 to $87.00 and gave the stock a "buy" rating in a research note on Wednesday. Morgan Stanley boosted their target price 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. Barclays boosted their target price on shares of Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Wall Street Zen cut shares of Sysco from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Finally, Citigroup initiated coverage on shares of Sysco in a research note on Thursday, May 22nd. They set a "neutral" rating and a $78.00 target price for the company. Five 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, Sysco currently has an average rating of "Moderate Buy" and a consensus price target of $85.69.

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.