Sysco Co. (NYSE:SYY) Shares Sold by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC trimmed its position in shares of Sysco Co. (NYSE:SYY) by 11.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,290 shares of the company’s stock after selling 1,072 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Sysco were worth $634,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SYY. State Street Corp grew its position in Sysco by 11.1% during the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock worth $2,130,617,000 after purchasing an additional 2,721,449 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Sysco during the 3rd quarter worth approximately $137,900,000. Nordea Investment Management AB grew its position in Sysco by 52.3% during the 4th quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock worth $208,666,000 after purchasing an additional 933,327 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in Sysco by 11.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after purchasing an additional 672,940 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC purchased a new position in Sysco during the 3rd quarter worth approximately $44,722,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Melius assumed coverage on shares of Sysco in a research note on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price for the company. Melius Research raised shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Jefferies Financial Group lifted their target price on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Morgan Stanley decreased their target price on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Finally, Barclays decreased their target price on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $84.38.

Insider Activity at Sysco

In related news, SVP Eve M. Mcfadden sold 6,499 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,876,080. The trade was a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now directly owns 56,304 shares in the company, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,270 shares of company stock valued at $6,181,946 over the last quarter. 0.54% of the stock is owned by company insiders.

Sysco Stock Performance

NYSE:SYY opened at $71.10 on Friday. The firm’s 50-day moving average is $74.88 and its 200-day moving average is $75.84. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.33. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The company has a market cap of $34.78 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.88 and a beta of 1.17.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the prior year, the business posted $0.89 EPS. Equities research analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current year.

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.