ING Groep NV Decreases Stake in Sysco Co. (NYSE:SYY)

ING Groep NV lowered its stake in Sysco Co. (NYSE:SYY) by 1.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 65,768 shares of the company’s stock after selling 1,242 shares during the quarter. ING Groep NV’s holdings in Sysco were worth $5,134,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Lifeworks Advisors LLC purchased a new stake in Sysco during the 3rd quarter valued at $227,000. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Sysco by 2.6% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 16,723 shares of the company’s stock valued at $1,305,000 after acquiring an additional 429 shares during the last quarter. Cable Hill Partners LLC boosted its holdings in shares of Sysco by 3.9% during the third quarter. Cable Hill Partners LLC now owns 4,049 shares of the company’s stock worth $316,000 after purchasing an additional 152 shares during the period. Main Street Financial Solutions LLC grew its stake in shares of Sysco by 43.1% in the third quarter. Main Street Financial Solutions LLC now owns 13,170 shares of the company’s stock worth $1,028,000 after purchasing an additional 3,968 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in Sysco by 1.5% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 48,080 shares of the company’s stock valued at $3,753,000 after purchasing an additional 695 shares during the period. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

Sysco stock opened at $74.95 on Friday. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.89. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The company has a market capitalization 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 50 day moving average is $76.00 and its 200 day moving average is $74.74.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.04). The company had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. During the same period in the prior year, the firm earned $1.07 EPS. Sysco’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities research analysts predict that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Insider Transactions at Sysco

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SYY. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Jefferies Financial Group lifted their price target on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Barclays boosted their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Wells Fargo & Company dropped their target price 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. Finally, JPMorgan Chase & Co. boosted their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $85.77.

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.