Sysco Corporation (NYSE:SYY) Stock Position Raised by XTX Topco Ltd

Key Points

• XTX Topco Ltd increased its stake in Sysco Corporation by 624.2% in the first quarter, acquiring an additional 32,223 shares, bringing its total holdings to 37,385 shares valued at approximately $2.8 million.
• Sysco's stock price has decreased by 2.3%, with recent earnings reporting $1.48 earnings per share, beating analysts' expectations by $0.09.
• Brokerages have adjusted their price targets for Sysco, with consensus rating at "Moderate Buy" and an average price target set at $84.46.

XTX Topco Ltd boosted its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 624.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,385 shares of the company's stock after purchasing an additional 32,223 shares during the quarter. XTX Topco Ltd's holdings in Sysco were worth $2,805,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors boosted 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 buying an additional 1,928,002 shares during the period. Canoe Financial LP boosted 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 buying an additional 1,426,332 shares during the period. Burgundy Asset Management Ltd. boosted 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 buying an additional 1,039,088 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted 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 buying an additional 970,703 shares during the period. Finally, Mackenzie Financial Corp boosted 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 buying an additional 966,826 shares during the period. Hedge funds and other institutional investors own 83.41% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Morgan Stanley upped their target price on Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. UBS Group set a $90.00 price target on Sysco in a report on Wednesday. JPMorgan Chase & Co. increased their price target on Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday, May 20th. Bank of America increased their price target on Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a report on Friday, July 18th. Finally, Citigroup assumed coverage on Sysco in a report on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 price target for the company. 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, Sysco presently has an average rating of "Moderate Buy" and an average price target of $85.54.

Sysco Stock Performance

SYY stock traded up $0.27 on Friday, reaching $79.87. The company's stock had a trading volume of 2,101,301 shares, compared to its average volume of 3,338,095. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $82.23. The company has a market capitalization of $38.72 billion, a P/E ratio of 21.41, a price-to-earnings-growth ratio of 2.46 and a beta of 0.81. The firm has a fifty day moving average of $75.96 and a two-hundred day moving average of $73.63. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.76.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.09. The firm 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%. The firm's quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the company posted $1.39 EPS. As a group, analysts predict that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Greg D. Bertrand sold 40,000 shares of the firm's stock in a transaction on 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 completion of the sale, the executive vice president directly owned 56,304 shares of the company's stock, valued at $4,504,320. This trade represents a 41.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ronald L. Phillips sold 37,606 shares of the firm's stock in a transaction on 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 sale, the executive vice president directly owned 30,235 shares of the company's stock, 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. Company insiders own 0.54% of the company's stock.

Sysco Company 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.