GAM Holding AG Lowers Stake in Sysco Co. (NYSE:SYY)

GAM Holding AG reduced its position in shares of Sysco Co. (NYSE:SYY) by 5.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,709 shares of the company’s stock after selling 929 shares during the quarter. GAM Holding AG’s holdings in Sysco were worth $1,278,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SYY. Ashton Thomas Securities LLC purchased a new stake in shares of Sysco during the 3rd quarter worth about $26,000. Valley Wealth Managers Inc. purchased a new stake in shares of Sysco during the 3rd quarter worth about $31,000. Stonebridge Financial Group LLC purchased a new stake in shares of Sysco during the 4th quarter worth about $31,000. Focused Wealth Management Inc purchased a new position in Sysco in the 3rd quarter valued at about $37,000. Finally, Canoe Financial LP purchased a new position in Sysco in the 3rd quarter valued at about $38,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Sysco

In related news, 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 value 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 approximately $4,335,408. This trade represents a 46.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $519,920.00. Following the completion of the sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,876,080. This trade represents a 11.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,370 shares of company stock worth $5,965,519 in the last 90 days. Insiders own 0.54% of the company’s stock.

Sysco Stock Down 1.4 %

Shares of NYSE SYY opened at $70.10 on Wednesday. The company has a 50 day simple moving average of $74.46 and a 200-day simple moving average of $75.75. The company has a market capitalization of $34.30 billion, a P/E ratio of 18.02, a P/E/G ratio of 1.88 and a beta of 1.17. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.33.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 earnings per share. On average, equities research analysts predict that Sysco Co. will post 4.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SYY shares. Truist Financial decreased their price target 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. Melius Research raised shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Barclays decreased their price target on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. UBS Group decreased their price target on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Morgan Stanley decreased their target price on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Sysco presently has an average rating of “Moderate Buy” and an average target price of $84.38.

Sysco Company 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.