Van Lanschot Kempen Investment Management N.V. Grows Position in Sysco Corporation $SYY

Key Points

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Van Lanschot Kempen Investment Management N.V. increased its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 8.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 485,142 shares of the company's stock after buying an additional 37,907 shares during the period. Van Lanschot Kempen Investment Management N.V. owned about 0.10% of Sysco worth $36,405,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SYY. Jump Financial LLC increased its stake in shares of Sysco by 3.4% during the fourth quarter. Jump Financial LLC now owns 12,413 shares of the company's stock worth $949,000 after buying an additional 403 shares during the period. Marshall Wace LLP purchased a new stake in shares of Sysco during the fourth quarter worth approximately $2,021,000. GeoWealth Management LLC increased its stake in shares of Sysco by 46.7% during the fourth quarter. GeoWealth Management LLC now owns 6,548 shares of the company's stock worth $501,000 after buying an additional 2,083 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Sysco by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,283,713 shares of the company's stock worth $327,533,000 after buying an additional 213,838 shares during the period. Finally, Capital International Inc. CA increased its stake in shares of Sysco by 15.6% during the fourth quarter. Capital International Inc. CA now owns 56,071 shares of the company's stock worth $4,287,000 after buying an additional 7,551 shares during the period. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Price Performance

SYY stock opened at $79.21 on Tuesday. The company has a market capitalization of $38.40 billion, a P/E ratio of 21.24, a PEG ratio of 2.46 and a beta of 0.83. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $82.64. The business has a 50 day simple moving average of $77.73 and a 200-day simple moving average of $74.19. 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 (NYSE:SYY - Get Free Report) last posted 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. The business had revenue of $21.14 billion during the quarter, compared to the consensus estimate of $21.01 billion. Sysco had a return on equity of 109.52% and a net margin of 2.25%. The company's revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.39 earnings per share. As a group, equities analysts anticipate that Sysco Corporation will post 4.58 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on SYY. Barclays upped 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. Wells Fargo & Company set a $88.00 price target on shares of Sysco and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Truist Financial increased their price target on shares of Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. UBS Group set a $90.00 price target on shares of Sysco in a research note on Wednesday, July 30th. Finally, Morgan Stanley increased their price target on shares of Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $85.69.

Insider Activity at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 40,000 shares of the business's stock in a transaction 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 transaction, the executive vice president directly owned 56,304 shares of the company's stock, valued at approximately $4,504,320. The trade was a 41.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ronald L. Phillips sold 6,286 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $81.00, for a total transaction of $509,166.00. Following the completion of the transaction, the executive vice president directly owned 34,404 shares in the company, valued at $2,786,724. This represents a 15.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 84,026 shares of company stock valued at $6,766,059 over the last three months. 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.

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