Curi RMB Capital LLC Lowers Holdings in Sysco Co. (NYSE:SYY)

Curi RMB Capital LLC trimmed its stake in Sysco Co. (NYSE:SYY) by 8.1% during the 3rd quarter, Holdings Channel reports. The firm owned 135,517 shares of the company’s stock after selling 11,945 shares during the quarter. Curi RMB Capital LLC’s holdings in Sysco were worth $10,578,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SYY. Capital World Investors grew its holdings in shares of Sysco by 17.5% during the 1st quarter. Capital World Investors now owns 10,984,950 shares of the company’s stock valued at $891,758,000 after purchasing an additional 1,637,232 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Sysco by 26.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock valued at $615,076,000 after purchasing an additional 1,782,180 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of Sysco by 11.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after buying an additional 672,940 shares during the period. Capital Research Global Investors lifted its holdings in Sysco by 112.8% in the first quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock worth $536,770,000 after buying an additional 3,504,740 shares during the period. Finally, ProShare Advisors LLC boosted its position in Sysco by 103.0% during the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock valued at $338,830,000 after acquiring an additional 2,408,226 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Sysco Trading Down 2.2 %

Shares of NYSE:SYY opened at $74.96 on Friday. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.89. The company has a market cap of $36.82 billion, a P/E ratio of 19.27, a PEG ratio of 2.01 and a beta of 1.20. The stock’s fifty day moving average price is $76.08 and its 200-day moving average price is $74.74.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The company had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.47 billion. During the same period in the previous year, the business earned $1.07 EPS. The business’s revenue was up 4.4% compared to the same quarter last year. Sell-side analysts expect that Sysco Co. will post 4.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SYY. Barclays raised their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Bank of America reduced their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Wells Fargo & Company lowered their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Jefferies Financial Group upped their price objective on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. boosted their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.77.

Insider Buying and Selling at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the sale, the senior vice president now directly owns 48,451 shares in the company, valued at $3,638,670.10. The trade was a 7.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.54% of the company’s stock.

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.