Brandywine Global Investment Management LLC lifted its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 37.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 607,754 shares of the company's stock after buying an additional 166,775 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.13% of Sysco worth $45,606,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC grew its holdings 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 period. Parvin Asset Management LLC bought a new stake in shares of Sysco in the fourth quarter worth $29,000. Golden State Wealth Management LLC lifted its stake in 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. N.E.W. Advisory Services LLC bought a new position in Sysco during the first quarter worth $33,000. Finally, Capital A Wealth Management LLC bought a new position in Sysco during the fourth quarter worth $34,000. Institutional investors and hedge funds own 83.41% of the company's stock.
Sysco Stock Down 2.1%
SYY stock traded down $1.71 during trading on Friday, reaching $79.49. 3,936,783 shares of the stock were exchanged, compared to its average volume of 3,470,464. The firm's 50 day moving average is $77.65 and its 200 day moving average is $74.15. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $82.64. 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 has a market cap of $38.53 billion, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 2.46 and a beta of 0.83.
Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings data 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 return on equity of 109.52% and a net margin of 2.25%. The business had revenue of $21.14 billion during the quarter, compared to analyst estimates of $21.01 billion. During the same period in the prior year, the company earned $1.39 earnings per share. Sysco's revenue was up 2.8% compared to the same quarter last year. As a group, research analysts forecast that Sysco Corporation will post 4.58 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. UBS Group set a $90.00 price objective on shares of Sysco in a research note on Wednesday, July 30th. Wall Street Zen cut Sysco from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Citigroup assumed coverage on Sysco in a report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 price target for the company. Guggenheim boosted their target price on Sysco from $85.00 to $87.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Finally, Bank of America boosted their target price on Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $85.69.
Get Our Latest Stock Report on Sysco
Insiders Place Their Bets
In other Sysco news, EVP Greg D. Bertrand sold 40,000 shares of the firm'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 sale, the executive vice president owned 56,304 shares in the company, valued at $4,504,320. This trade represents a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ronald L. Phillips sold 6,286 shares of the firm's stock in a transaction dated 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 owned 34,404 shares in the company, valued at $2,786,724. The trade was a 15.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 84,026 shares of company stock worth $6,766,059 in the last quarter. 0.54% of the stock is currently owned by company insiders.
Sysco Profile
(
Free Report)
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.
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