Gulf International Bank UK Ltd Has $2.14 Million Stake in Sysco Corporation (NYSE:SYY)

Key Points

• Gulf International Bank UK Ltd reduced its stake in Sysco Corporation by 28.1% during the first quarter, now holding 28,455 shares valued at approximately $2.14 million.
• Wall Street analysts have mixed ratings on Sysco, with five giving it a hold rating and ten issuing a buy rating, resulting in an average rating of "Moderate Buy" with a consensus price target of $85.69.
• Recent insider sales amounted to 77,740 shares, with executives Greg D. Bertrand and Ronald L. Phillips significantly reducing their stock ownership by 41.54% and 55.43%, respectively.

Gulf International Bank UK Ltd reduced its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 28.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,455 shares of the company's stock after selling 11,141 shares during the period. Gulf International Bank UK Ltd's holdings in Sysco were worth $2,135,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of SYY. NorthCrest Asset Manangement LLC grew its position in Sysco by 4.9% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 2,956 shares of the company's stock worth $226,000 after buying an additional 139 shares in the last quarter. Golden State Wealth Management LLC grew its position 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 buying an additional 140 shares in the last quarter. Chicago Partners Investment Group LLC boosted its holdings in shares of Sysco by 1.6% in the 1st quarter. Chicago Partners Investment Group LLC now owns 8,898 shares of the company's stock valued at $627,000 after purchasing an additional 143 shares in the last quarter. One Wealth Advisors LLC boosted its holdings in shares of Sysco by 3.3% in the 1st quarter. One Wealth Advisors LLC now owns 4,698 shares of the company's stock valued at $353,000 after purchasing an additional 151 shares in the last quarter. Finally, Lcnb Corp boosted its holdings in shares of Sysco by 2.9% in the 1st quarter. Lcnb Corp now owns 5,985 shares of the company's stock valued at $449,000 after purchasing an additional 166 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Trading Down 2.1%

NYSE:SYY traded down $1.71 during trading hours on Friday, hitting $79.49. 3,936,783 shares of the company were exchanged, compared to its average volume of 3,390,233. The stock has a market capitalization of $38.53 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 2.46 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. Sysco Corporation has a one year low of $67.12 and a one year high of $82.64. The company has a fifty day simple moving average of $77.65 and a 200 day simple moving average of $74.14.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SYY shares. JPMorgan Chase & Co. raised their target price on Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday, May 20th. UBS Group set a $90.00 target price on Sysco in a report on Wednesday, July 30th. Truist Financial raised their target price on Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Barclays raised their target price on Sysco from $77.00 to $82.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Finally, Wall Street Zen downgraded Sysco from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Sysco currently has an average rating of "Moderate Buy" and a consensus target price of $85.69.

Insider Activity

In other news, EVP Ronald L. Phillips sold 37,606 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total value of $3,046,086.00. Following the completion of the sale, the executive vice president directly owned 30,235 shares in the company, valued at $2,449,035. This trade represents a 55.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 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 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 approximately $4,504,320. This represents a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 84,026 shares of company stock valued at $6,766,059. Corporate 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.