Sysco Corporation $SYY Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its position in Sysco Corporation (NYSE:SYY) by 10.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 1,708,525 shares of the company’s stock after selling 207,779 shares during the period. The Manufacturers Life Insurance Company’s holdings in Sysco were worth $121,869,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of SYY. Lloyd Advisory Services LLC. acquired a new position in shares of Sysco in the 4th quarter worth approximately $25,000. Motiv8 Investments LLC bought a new stake in shares of Sysco in the 4th quarter valued at approximately $25,000. Torren Management LLC acquired a new stake in shares of Sysco during the 4th quarter valued at approximately $27,000. Bard Associates Inc. acquired a new stake in shares of Sysco during the 4th quarter valued at approximately $27,000. Finally, Elyxium Wealth LLC bought a new position in Sysco during the fourth quarter worth $28,000. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Up 1.4%

NYSE:SYY opened at $85.23 on Wednesday. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85. The firm has a market capitalization of $40.80 billion, a P/E ratio of 23.61, a P/E/G ratio of 3.31 and a beta of 0.64. The company has a debt-to-equity ratio of 5.58, a current ratio of 1.33 and a quick ratio of 0.80. The business has a 50 day simple moving average of $79.93 and a 200 day simple moving average of $79.95.

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

Analysts Set New Price Targets

SYY has been the subject of a number of research reports. 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 report on Tuesday, April 28th. Sanford C. Bernstein reduced their price target on shares of Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 29th. Melius Research lowered shares of Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Guggenheim decreased their price target on shares of Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Finally, Barclays dropped their price objective on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $88.00.

Insider Activity

In other news, Director John M. Hinshaw purchased 13,304 shares of Sysco stock in a transaction dated Tuesday, May 26th. The stock was bought at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the acquisition, the director owned 40,200 shares in the company, valued at $3,021,834. The trade was a 49.46% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.56% of the company’s stock.

Sysco Company 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.