Sysco Corporation (NYSE:SYY) Shares Purchased by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC increased its stake in Sysco Corporation by 5.0%, acquiring an additional 20,321 shares during the first quarter, bringing its total holdings to 430,677 shares valued at approximately $32.3 million.
• Several large investors, including Capital Research Global Investors and Canoe Financial LP, made significant increases to their positions in Sysco, indicating strong institutional interest and confidence in the company.
• Wall Street analysts are optimistic about Sysco's future, with a consensus rating of "Moderate Buy" and an average target price of $85.54, driven by favorable earnings results that exceeded expectations.

Natixis Advisors LLC grew its stake in Sysco Corporation (NYSE:SYY - Free Report) by 5.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 430,677 shares of the company's stock after purchasing an additional 20,321 shares during the quarter. Natixis Advisors LLC owned approximately 0.09% of Sysco worth $32,318,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Rialto Wealth Management LLC raised its stake in shares of Sysco by 188.7% in the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock valued at $25,000 after purchasing an additional 217 shares in the last quarter. Parvin Asset Management LLC acquired a new stake in shares of Sysco in the 4th quarter valued at about $29,000. Golden State Wealth Management LLC raised its stake in shares of Sysco by 48.4% in the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after purchasing an additional 140 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in shares of Sysco in the 1st quarter valued at about $33,000. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Sysco in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Insider Buying and Selling

In related news, EVP Greg D. Bertrand sold 40,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The shares were 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. This trade represents a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ronald L. Phillips sold 37,606 shares of the firm's stock in a transaction that occurred on 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 owned 30,235 shares in the company, valued at $2,449,035. This represents a 55.43% decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

Sysco Stock Performance

NYSE SYY traded up $0.27 on Friday, hitting $79.87. The stock had a trading volume of 2,101,301 shares, compared to its average volume of 2,893,330. Sysco Corporation has a one year low of $67.12 and a one year high of $82.23. The company has a quick ratio of 0.76, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. The stock has a market cap of $38.72 billion, a price-to-earnings ratio of 21.41, a P/E/G ratio of 2.47 and a beta of 0.83. The company's 50-day moving average is $76.12 and its two-hundred day moving average is $73.67.

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

Analysts Set New Price Targets

Several research firms recently weighed in on SYY. Barclays increased their price objective on shares of Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a research note on Wednesday. Bank of America increased their price objective on shares of Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Guggenheim increased their price objective on shares of Sysco from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday. UBS Group set a $90.00 price objective on shares of Sysco in a research note on Wednesday. Finally, Citigroup began coverage on shares of Sysco in a research note on Thursday, May 22nd. They set a "neutral" rating and a $78.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $85.54.

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.