Allspring Global Investments Holdings LLC Has $31.74 Million Stake in Sysco Co. (NYSE:SYY)

Allspring Global Investments Holdings LLC lessened its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 6.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 419,236 shares of the company's stock after selling 30,117 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.09% of Sysco worth $31,740,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SYY. AMF Tjanstepension AB increased its holdings in Sysco by 185.5% during the 3rd quarter. AMF Tjanstepension AB now owns 31,332 shares of the company's stock worth $2,446,000 after purchasing an additional 20,356 shares in the last quarter. Creative Planning increased its holdings in Sysco by 3.6% during the 3rd quarter. Creative Planning now owns 196,876 shares of the company's stock worth $15,368,000 after purchasing an additional 6,814 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in Sysco by 0.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 50,126 shares of the company's stock worth $3,913,000 after purchasing an additional 218 shares in the last quarter. Cornerstone Wealth Management LLC increased its holdings in Sysco by 3.6% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 9,540 shares of the company's stock worth $745,000 after purchasing an additional 331 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Sysco by 9.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 61,139 shares of the company's stock worth $4,773,000 after purchasing an additional 5,213 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Stock Performance

NYSE:SYY traded down $0.76 during mid-day trading on Tuesday, hitting $70.34. The stock had a trading volume of 1,999,432 shares, compared to its average volume of 3,439,504. The company's 50 day simple moving average is $74.68 and its 200 day simple moving average is $75.80. 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 cap of $34.41 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 1.88 and a beta of 1.17. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.33.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 firm earned $0.89 earnings per share. On average, equities research analysts forecast that Sysco Co. will post 4.58 earnings per share for the current year.

Insiders Place Their Bets

In other Sysco news, SVP Eve M. Mcfadden sold 6,499 shares of the firm's 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 directly owns 48,451 shares in the company, valued at $3,876,080. This trade represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Greg D. Bertrand sold 21,844 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 $1,747,520.00. Following the completion of the sale, the executive vice president now owns 60,581 shares of the company's stock, valued at approximately $4,846,480. The trade was a 26.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,370 shares of company stock worth $5,965,519 over the last three months. Insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. lowered their target price on Sysco from $86.00 to $82.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. Barclays decreased their price objective on Sysco from $93.00 to $85.00 and set an "overweight" rating for the company in a report on Wednesday, January 29th. Jefferies Financial Group raised their price objective on Sysco from $91.00 to $95.00 and gave the company a "buy" rating in a report on Monday, December 16th. StockNews.com upgraded Sysco from a "buy" rating to a "strong-buy" rating in a report on Tuesday, February 4th. Finally, Morgan Stanley decreased their price objective on Sysco from $79.00 to $77.00 and set an "equal weight" rating for the company in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $84.38.

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.