RWC Asset Management LLP Buys 132,168 Shares of Sysco Co. (NYSE:SYY)

RWC Asset Management LLP boosted its stake in shares of Sysco Co. (NYSE:SYY) by 25.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 646,737 shares of the company’s stock after acquiring an additional 132,168 shares during the quarter. Sysco accounts for 2.5% of RWC Asset Management LLP’s portfolio, making the stock its 7th largest position. RWC Asset Management LLP owned about 0.13% of Sysco worth $49,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Partners Wealth Management LLC bought a new position in Sysco during the 4th quarter valued at about $215,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Sysco by 41.2% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 93,935 shares of the company’s stock worth $7,182,000 after buying an additional 27,400 shares in the last quarter. Cabot Wealth Management Inc. raised its stake in shares of Sysco by 3.8% in the fourth quarter. Cabot Wealth Management Inc. now owns 148,499 shares of the company’s stock valued at $11,354,000 after acquiring an additional 5,415 shares during the last quarter. Howard Capital Management Inc. grew its position in Sysco by 5.0% during the 4th quarter. Howard Capital Management Inc. now owns 3,370 shares of the company’s stock worth $258,000 after acquiring an additional 162 shares during the last quarter. Finally, Marshall Investment Management LLC bought a new stake in Sysco during the 4th quarter worth approximately $87,000. 83.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on SYY shares. JPMorgan Chase & Co. reduced their price objective on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Morgan Stanley reduced their price target on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Guggenheim restated a “buy” rating and issued a $85.00 price objective on shares of Sysco in a research report on Wednesday, January 29th. Melius Research upgraded shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company lowered their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. 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. According to MarketBeat, Sysco has a consensus rating of “Moderate Buy” and an average price target of $84.38.

Sysco Stock Performance

Shares of Sysco stock opened at $73.22 on Monday. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.33. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The stock has a market capitalization of $35.82 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 1.88 and a beta of 1.17. The firm has a fifty day moving average of $73.96 and a two-hundred day moving average of $75.68.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period in the prior year, the firm earned $0.89 earnings per share. As a group, equities research analysts predict that Sysco Co. will post 4.58 EPS for the current year.

Insider Activity at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 6,499 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the sale, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,876,080. This trade represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the transaction, the executive vice president now directly owns 56,304 shares in the company, valued at approximately $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,370 shares of company stock worth $5,965,519 in the last ninety days. Company insiders own 0.54% of the company’s stock.

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.