ING Groep NV Sells 3,028 Shares of Sysco Co. (NYSE:SYY)

ING Groep NV reduced its position in shares of Sysco Co. (NYSE:SYY) by 4.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 62,740 shares of the company’s stock after selling 3,028 shares during the quarter. ING Groep NV’s holdings in Sysco were worth $4,797,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Boston Financial Mangement LLC boosted its holdings in shares of Sysco by 35.3% during the 4th quarter. Boston Financial Mangement LLC now owns 13,427 shares of the company’s stock worth $1,027,000 after buying an additional 3,500 shares during the period. Concurrent Investment Advisors LLC raised 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 last quarter. Handelsbanken Fonder AB raised 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 last quarter. LMG Wealth Partners LLC raised its stake in Sysco by 1.7% during the 4th quarter. LMG Wealth Partners LLC now owns 58,330 shares of the company’s stock valued at $4,460,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Private Advisor Group LLC raised its stake in shares of Sysco by 20.1% in the 4th quarter. Private Advisor Group LLC now owns 45,722 shares of the company’s stock valued at $3,496,000 after buying an additional 7,640 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Eve M. Mcfadden sold 6,499 shares of Sysco 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 $519,920.00. Following the sale, the senior vice president now directly owns 48,451 shares in the company, valued at $3,876,080. This trade represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction that occurred on 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 owns 56,304 shares in the company, valued at $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,370 shares of company stock worth $5,965,519 over the last ninety days. Insiders own 0.54% of the company’s stock.

Sysco Stock Performance

Shares of SYY stock opened at $73.22 on Friday. 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 capitalization of $35.82 billion, a P/E ratio of 18.82, a price-to-earnings-growth ratio of 1.87 and a beta of 1.17. The company’s 50 day moving average price is $73.96 and its two-hundred day moving average price is $75.68. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.33.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 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 company posted $0.89 EPS. On average, analysts expect that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. UBS Group decreased their price objective on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Melius assumed coverage on shares of Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective on the stock. Truist Financial reduced their target price on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $85.00 target price on shares of Sysco in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.38.

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.