Sysco Corporation $SYY Shares Sold by Lombard Odier Asset Management Europe Ltd

Lombard Odier Asset Management Europe Ltd decreased its position in shares of Sysco Corporation (NYSE:SYY) by 56.9% during the first quarter, Holdings Channel.com reports. The firm owned 64,017 shares of the company’s stock after selling 84,412 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in Sysco were worth $4,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in SYY. Norges Bank acquired a new stake in shares of Sysco during the 4th quarter valued at about $542,780,000. Wellington Management Group LLP raised its holdings in Sysco by 3,977.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company’s stock worth $387,935,000 after purchasing an additional 4,595,819 shares during the period. First Nebraska Trust Co purchased a new position in Sysco during the first quarter worth approximately $156,697,000. Goldman Sachs Group Inc. grew its holdings in Sysco by 45.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,651,682 shares of the company’s stock valued at $416,472,000 after purchasing an additional 1,754,306 shares during the period. Finally, Royal Bank of Canada increased its position in shares of Sysco by 128.7% in the first quarter. Royal Bank of Canada now owns 2,357,585 shares of the company’s stock valued at $168,166,000 after buying an additional 1,326,600 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SYY has been the subject of a number of research analyst reports. Piper Sandler reduced their price objective on shares of Sysco from $83.00 to $77.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Morgan Stanley raised their price target on shares of Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Melius Research cut Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft cut Sysco from a “buy” rating to a “hold” rating and set a $84.00 target price for the company. in a report on Tuesday, April 28th. Finally, Sanford C. Bernstein lowered their price target on Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 29th. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $88.00.

Insider Transactions at Sysco

In other Sysco news, Director John M. Hinshaw purchased 13,304 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was acquired at an average price of $75.17 per share, for a total transaction of $1,000,061.68. Following the completion of the purchase, the director directly owned 40,200 shares in the company, valued at approximately $3,021,834. The trade was a 49.46% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.56% of the company’s stock.

Sysco Stock Up 0.1%

NYSE SYY opened at $85.31 on Monday. The business’s fifty day simple moving average is $80.46 and its 200-day simple moving average is $80.18. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 5.58. The firm has a market cap of $40.84 billion, a PE ratio of 23.63, a P/E/G ratio of 3.36 and a beta of 0.64. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85.

About Sysco

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.