Handelsbanken Fonder AB Acquires 9,485 Shares of Sysco Co. (NYSE:SYY)

Handelsbanken Fonder AB grew its position in Sysco Co. (NYSE:SYY - Free Report) by 3.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 295,180 shares of the company's stock after buying an additional 9,485 shares during the quarter. Handelsbanken Fonder AB owned 0.06% of Sysco worth $22,569,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp raised its position in shares of Sysco by 11.1% in the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company's stock valued at $2,130,617,000 after buying an additional 2,721,449 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of Sysco by 11.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company's stock valued at $521,874,000 after buying an additional 672,940 shares in the last quarter. Primecap Management Co. CA grew its holdings in shares of Sysco by 9.7% during the 3rd quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company's stock valued at $374,410,000 after purchasing an additional 422,954 shares during the last quarter. Montrusco Bolton Investments Inc. grew its holdings in shares of Sysco by 8.5% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company's stock valued at $366,789,000 after purchasing an additional 375,409 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Sysco by 4.1% during the 3rd quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company's stock valued at $332,983,000 after purchasing an additional 168,163 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Performance

NYSE SYY traded up $2.00 during trading on Friday, hitting $73.22. 5,381,502 shares of the company's stock traded hands, compared to its average volume of 3,765,759. The stock has a market capitalization of $35.82 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 1.87 and a beta of 1.17. Sysco Co. has a 12-month low of $69.03 and a 12-month 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 business has a 50 day moving average of $74.10 and a 200-day moving average of $75.69.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the prior year, the business earned $0.89 EPS. As a group, equities research analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Truist Financial decreased their price target on shares of Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Wells Fargo & Company decreased their price target on shares of Sysco from $87.00 to $82.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. StockNews.com raised shares of Sysco from a "buy" rating to a "strong-buy" rating in a report on Tuesday, February 4th. Guggenheim reaffirmed a "buy" rating and set a $85.00 price target on shares of Sysco in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Sysco from $86.00 to $82.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. 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.com, the company has an average rating of "Moderate Buy" and an average price target of $84.38.

Insider Activity at Sysco

In other news, EVP Greg D. Bertrand sold 48,027 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the transaction, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Eve M. Mcfadden sold 6,499 shares of the firm's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the completion of the transaction, the senior vice president now owns 48,451 shares in the company, valued at $3,876,080. This represents a 11.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,370 shares of company stock valued at $5,965,519 over the last three months. 0.54% of the stock is owned by corporate insiders.

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.