Principal Securities Inc. Trims Stock Holdings in Sysco Co. (NYSE:SYY)

Principal Securities Inc. lowered its position in shares of Sysco Co. (NYSE:SYY) by 8.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,754 shares of the company’s stock after selling 541 shares during the period. Principal Securities Inc.’s holdings in Sysco were worth $440,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of SYY. Ashton Thomas Securities LLC bought a new position in shares of Sysco in the 3rd quarter worth about $26,000. Stonebridge Financial Group LLC purchased a new stake in Sysco in the fourth quarter worth about $31,000. Valley Wealth Managers Inc. bought a new position in shares of Sysco during the third quarter valued at approximately $31,000. Focused Wealth Management Inc purchased a new position in shares of Sysco during the third quarter valued at approximately $37,000. Finally, Canoe Financial LP bought a new stake in shares of Sysco in the 3rd quarter worth approximately $38,000. Institutional investors own 83.41% of the company’s stock.

Insider Activity

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

Sysco Trading Up 2.8 %

NYSE:SYY opened at $73.22 on Friday. The company has a market cap of $35.82 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The company has a 50 day simple moving average of $73.96 and a two-hundred day simple moving average of $75.68. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.33.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period last year, the company earned $0.89 earnings per share. Research analysts forecast that Sysco Co. will post 4.58 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on SYY shares. Morgan Stanley lowered their price objective on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Jefferies Financial Group lifted their price target on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Melius initiated coverage on shares of Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective on the stock. Guggenheim restated a “buy” rating and set a $85.00 price objective on shares of Sysco in a research note on Wednesday, January 29th. Finally, StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $84.38.

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.