Sysco Corporation $SYY Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lowered its stake in shares of Sysco Corporation (NYSE:SYY) by 21.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 680,263 shares of the company’s stock after selling 181,830 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.14% of Sysco worth $48,523,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Intech Investment Management LLC boosted its holdings in Sysco by 53.1% in the first quarter. Intech Investment Management LLC now owns 22,310 shares of the company’s stock valued at $1,674,000 after acquiring an additional 7,742 shares during the last quarter. Schnieders Capital Management LLC. increased its stake in Sysco by 24.1% during the second quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company’s stock worth $781,000 after acquiring an additional 2,000 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Sysco by 62.4% in the 2nd quarter. NewEdge Advisors LLC now owns 35,447 shares of the company’s stock worth $2,685,000 after purchasing an additional 13,616 shares during the period. Sei Investments Co. raised its holdings in shares of Sysco by 14.2% in the 2nd quarter. Sei Investments Co. now owns 344,504 shares of the company’s stock worth $26,092,000 after purchasing an additional 42,903 shares during the period. Finally, Treasurer of the State of North Carolina lifted its stake in shares of Sysco by 0.8% in the 2nd quarter. Treasurer of the State of North Carolina now owns 226,648 shares of the company’s stock valued at $17,166,000 after purchasing an additional 1,710 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Transactions at Sysco

In other news, Director John M. Hinshaw acquired 13,304 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were bought at an average price of $75.17 per share, for a total transaction of $1,000,061.68. Following the completion of the purchase, the director directly owned 40,200 shares of the company’s stock, valued at approximately $3,021,834. This trade represents a 49.46% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.56% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Barclays decreased their target price on Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sysco in a research report on Friday, June 26th. Deutsche Bank Aktiengesellschaft downgraded shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a research note on Tuesday, April 28th. UBS Group dropped their price objective on shares of Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Finally, Guggenheim cut their target price on shares of Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $88.00.

Sysco Price Performance

SYY stock opened at $84.12 on Tuesday. The firm has a market cap of $40.27 billion, a P/E ratio of 23.30, a price-to-earnings-growth ratio of 3.27 and a beta of 0.64. The company has a debt-to-equity ratio of 5.58, a quick ratio of 0.80 and a current ratio of 1.33. Sysco Corporation has a 1 year low of $68.19 and a 1 year high of $91.85. The stock has a 50-day simple moving average of $79.73 and a 200-day simple moving average of $79.86.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.01). The company had revenue of $20.52 billion for the quarter, compared to analyst estimates of $20.56 billion. Sysco had a return on equity of 103.57% and a net margin of 2.08%.The business’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $0.96 earnings per share. On average, equities analysts predict that Sysco Corporation will post 4.59 earnings per share for the current fiscal year.

Sysco Profile

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.