KBC Group NV Sells 24,403 Shares of Sysco Co. (NYSE:SYY)

KBC Group NV lowered its holdings in Sysco Co. (NYSE:SYY - Free Report) by 21.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,409 shares of the company's stock after selling 24,403 shares during the quarter. KBC Group NV's holdings in Sysco were worth $7,058,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Capital Research Global Investors grew its stake in Sysco by 112.8% during the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company's stock worth $536,770,000 after purchasing an additional 3,504,740 shares in the last quarter. ProShare Advisors LLC increased its stake in Sysco by 103.0% in the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company's stock valued at $338,830,000 after purchasing an additional 2,408,226 shares in the last quarter. Swedbank AB acquired a new position in Sysco during the first quarter worth $178,824,000. Diamond Hill Capital Management Inc. boosted its position in Sysco by 49.8% during the second quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company's stock worth $429,240,000 after purchasing an additional 1,997,895 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Sysco by 26.1% in the second quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company's stock valued at $615,076,000 after purchasing an additional 1,782,180 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Sysco

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. This represents a 7.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is owned by insiders.

Sysco Stock Down 0.0 %

Shares of NYSE:SYY traded down $0.01 during mid-day trading on Friday, reaching $74.95. 2,636,588 shares of the stock were exchanged, compared to its average volume of 3,109,526. The company has a market cap of $36.82 billion, a P/E ratio of 19.27, a P/E/G ratio of 1.97 and a beta of 1.20. The stock's 50 day simple moving average is $75.93 and its 200-day simple moving average is $74.73. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. Sysco Co. has a one year low of $69.03 and a one year high of $82.89.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.04). The company had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. The firm's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the firm earned $1.07 EPS. As a group, equities research analysts predict that Sysco Co. will post 4.57 EPS for the current year.

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of research reports. Barclays increased their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an "overweight" rating in a research note on Wednesday, July 31st. Jefferies Financial Group lifted their price objective on Sysco from $91.00 to $92.00 and gave the stock a "buy" rating in a research report on Wednesday, September 25th. Wells Fargo & Company lowered their target price on Sysco from $87.00 to $82.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. StockNews.com cut Sysco from a "strong-buy" rating to a "buy" rating in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. upped their target price on shares of Sysco from $85.00 to $88.00 and gave the company an "overweight" rating in a report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $85.77.

Sysco Company 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.