Sysco Corporation $SYY Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP raised its stake in shares of Sysco Corporation (NYSE:SYY) by 17.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 302,531 shares of the company’s stock after acquiring an additional 45,706 shares during the period. Quantinno Capital Management LP’s holdings in Sysco were worth $21,580,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Sysco by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company’s stock valued at $4,591,281,000 after purchasing an additional 814,270 shares during the last quarter. State Street Corp raised its stake in shares of Sysco by 0.9% during the third quarter. State Street Corp now owns 26,669,576 shares of the company’s stock worth $2,195,973,000 after purchasing an additional 246,542 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Sysco by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company’s stock worth $934,391,000 after purchasing an additional 131,659 shares during the period. Norges Bank acquired a new stake in shares of Sysco during the fourth quarter worth $542,780,000. Finally, Morgan Stanley grew its position in Sysco by 9.0% in the 4th quarter. Morgan Stanley now owns 6,058,405 shares of the company’s stock valued at $446,444,000 after buying an additional 500,881 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SYY. Deutsche Bank Aktiengesellschaft cut shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 price objective on the stock. in a research note on Tuesday, April 28th. Melius Research downgraded shares of Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Morgan Stanley lifted their target price on shares of Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Barclays dropped their price target on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Finally, Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $88.00.

Insider Activity at Sysco

In related news, Director John M. Hinshaw bought 13,304 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were bought at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the transaction, the director owned 40,200 shares of the company’s stock, valued at approximately $3,021,834. This trade represents a 49.46% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.56% of the company’s stock.

Sysco Trading Up 0.7%

Shares of SYY stock opened at $85.31 on Friday. The business’s fifty day moving average price is $80.46 and its 200 day moving average price is $80.14. The firm has a market capitalization of $40.84 billion, a PE ratio of 23.63, a P/E/G ratio of 3.36 and a beta of 0.64. The company has a debt-to-equity ratio of 5.58, a current ratio of 1.33 and a quick ratio of 0.80. Sysco Corporation has a 1-year low of $68.19 and a 1-year high of $91.85.

Sysco Company Profile

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.