Sysco Co. (NYSE:SYY) Shares Sold by ING Groep NV

ING Groep NV trimmed its position in shares of Sysco Co. (NYSE:SYY) by 4.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,740 shares of the company’s stock after selling 3,028 shares during the period. ING Groep NV’s holdings in Sysco were worth $4,797,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Boston Financial Mangement LLC boosted its stake in Sysco by 35.3% during the 4th quarter. Boston Financial Mangement LLC now owns 13,427 shares of the company’s stock valued at $1,027,000 after purchasing an additional 3,500 shares during the period. Concurrent Investment Advisors LLC boosted its stake in Sysco by 18.6% during the 4th quarter. Concurrent Investment Advisors LLC now owns 27,819 shares of the company’s stock valued at $2,127,000 after purchasing an additional 4,356 shares during the period. Handelsbanken Fonder AB boosted its stake in Sysco by 3.3% during the 4th quarter. Handelsbanken Fonder AB now owns 295,180 shares of the company’s stock valued at $22,569,000 after purchasing an additional 9,485 shares during the period. LMG Wealth Partners LLC raised its position in shares of Sysco by 1.7% during the 4th quarter. LMG Wealth Partners LLC now owns 58,330 shares of the company’s stock worth $4,460,000 after buying an additional 1,000 shares in the last quarter. Finally, Private Advisor Group LLC raised its position in shares of Sysco by 20.1% during the 4th quarter. Private Advisor Group LLC now owns 45,722 shares of the company’s stock worth $3,496,000 after buying an additional 7,640 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Up 2.8 %

SYY stock opened at $73.22 on Friday. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.33. The company’s 50 day simple moving average is $73.96 and its 200-day simple moving average is $75.68. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The firm has a market capitalization of $35.82 billion, a P/E ratio of 18.82, a P/E/G ratio of 1.87 and a beta of 1.17.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates 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 firm earned $0.89 EPS. As a group, equities research analysts anticipate that Sysco Co. will post 4.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on SYY. Wells Fargo & Company dropped their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. JPMorgan Chase & Co. dropped their target price on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Guggenheim reiterated a “buy” rating and issued a $85.00 target price on shares of Sysco in a report on Wednesday, January 29th. Melius Research upgraded shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. Finally, Jefferies Financial Group boosted their target price on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $84.38.

Insider Activity at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 21,844 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $1,747,520.00. Following the completion of the sale, the executive vice president now directly owns 60,581 shares of the company’s stock, valued at $4,846,480. The trade was a 26.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the completion of the sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,876,080. This represents a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,370 shares of company stock valued at $5,965,519. Corporate insiders own 0.54% of the company’s stock.

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.