Groupama Asset Managment Invests $613,000 in Sysco Corporation $SYY

Groupama Asset Managment acquired a new stake in Sysco Corporation (NYSE:SYY) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,592 shares of the company’s stock, valued at approximately $613,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Teacher Retirement System of Texas boosted its position in Sysco by 8.0% in the fourth quarter. Teacher Retirement System of Texas now owns 370,571 shares of the company’s stock worth $27,307,000 after purchasing an additional 27,510 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Sysco by 9.5% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 412,423 shares of the company’s stock valued at $30,445,000 after acquiring an additional 35,647 shares during the period. Nicholas Company Inc. purchased a new stake in shares of Sysco during the 4th quarter worth approximately $2,278,000. Norges Bank bought a new stake in shares of Sysco in the 4th quarter worth approximately $542,780,000. Finally, Banque Cantonale Vaudoise lifted its stake in Sysco by 301.9% in the first quarter. Banque Cantonale Vaudoise now owns 16,828 shares of the company’s stock valued at $1,200,000 after purchasing an additional 12,641 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director John M. Hinshaw acquired 13,304 shares of Sysco stock in a transaction on Tuesday, May 26th. The stock was acquired at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the purchase, the director owned 40,200 shares in the company, valued at $3,021,834. This trade represents a 49.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is currently owned by company insiders.

Sysco Stock Up 0.1%

SYY stock opened at $85.31 on Monday. Sysco Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85. The company has a market capitalization of $40.84 billion, a price-to-earnings ratio of 23.63, a price-to-earnings-growth ratio of 3.36 and a beta of 0.64. The business’s 50 day moving average price is $80.46 and its two-hundred day moving average price is $80.18. The company has a debt-to-equity ratio of 5.58, a quick ratio of 0.80 and a current ratio of 1.33.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 target price for the company. in a research report on Tuesday, April 28th. Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Sanford C. Bernstein lowered their target price on shares of Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Sysco in a report on Friday, June 26th. Finally, Citigroup restated a “neutral” rating on shares of Sysco in a research report on Wednesday, July 22nd. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $88.00.

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.