ING Groep NV Sells 1,242 Shares of Sysco Co. (NYSE:SYY)

ING Groep NV trimmed its holdings in shares of Sysco Co. (NYSE:SYY) by 1.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SYY. Capital Research Global Investors increased its stake in shares of 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 purchasing an additional 3,504,740 shares in the last quarter. ProShare Advisors LLC increased its stake in Sysco by 103.0% in the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock worth $338,830,000 after buying an additional 2,408,226 shares in the last quarter. Swedbank AB bought a new stake in Sysco during the first quarter valued at about $178,824,000. Diamond Hill Capital Management Inc. boosted its stake in shares of Sysco by 49.8% in the second quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock worth $429,240,000 after acquiring an additional 1,997,895 shares during the period. Finally, Ameriprise Financial Inc. grew its position in shares of Sysco by 26.1% during the second quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock worth $615,076,000 after purchasing an additional 1,782,180 shares in the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Sysco Stock Down 0.0 %

Shares of SYY opened at $74.95 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The firm 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 50 day moving average is $76.00 and its two-hundred day moving average is $74.74. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.89.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share 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 during the quarter, compared to analysts’ expectations of $20.47 billion. During the same period in the prior year, the business posted $1.07 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. Analysts predict that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. lifted their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Barclays increased their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Jefferies Financial Group lifted their target price on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, Wells Fargo & Company decreased their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.77.

Sysco 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.