Kornitzer Capital Management Inc. KS Has $14.26 Million Position in Sysco Co. (NYSE:SYY)

Kornitzer Capital Management Inc. KS reduced its stake in shares of Sysco Co. (NYSE:SYY - Free Report) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 186,506 shares of the company's stock after selling 4,125 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Sysco were worth $14,260,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of SYY. AMF Tjanstepension AB lifted its holdings in Sysco by 185.5% in the third quarter. AMF Tjanstepension AB now owns 31,332 shares of the company's stock valued at $2,446,000 after buying an additional 20,356 shares during the period. Creative Planning lifted its holdings in Sysco by 3.6% in the third quarter. Creative Planning now owns 196,876 shares of the company's stock valued at $15,368,000 after buying an additional 6,814 shares during the period. Claro Advisors LLC acquired a new position in Sysco in the third quarter valued at approximately $250,000. First Citizens Bank & Trust Co. lifted its holdings in Sysco by 2.8% in the third quarter. First Citizens Bank & Trust Co. now owns 11,837 shares of the company's stock valued at $924,000 after buying an additional 328 shares during the period. Finally, OLD National Bancorp IN raised its holdings in Sysco by 13.6% in the third quarter. OLD National Bancorp IN now owns 28,053 shares of the company's stock worth $2,190,000 after purchasing an additional 3,367 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Performance

Shares of SYY stock traded up $2.00 during midday trading on Friday, hitting $73.22. 5,381,502 shares of the company were exchanged, compared to its average volume of 3,765,759. The firm has a market capitalization of $35.82 billion, a P/E ratio of 18.82, a PEG ratio of 1.87 and a beta of 1.17. 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 firm's 50 day moving average price is $73.96 and its two-hundred day moving average price is $75.68. Sysco Co. has a 52 week low of $69.03 and a 52 week 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 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 period in the previous year, the business posted $0.89 earnings per share. As a group, equities research analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current year.

Insiders Place Their Bets

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the business'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 transaction of $3,698,079.00. Following the sale, the executive vice president now directly owns 56,304 shares of the company's stock, valued at $4,335,408. The trade was a 46.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Eve M. Mcfadden sold 6,499 shares of the business'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 sale, the senior vice president now directly owns 48,451 shares in the company, valued at $3,876,080. The trade was a 11.83 % 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 in the last quarter. 0.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SYY has been the topic of several analyst reports. Melius Research upgraded shares of Sysco to a "hold" rating in a report on Wednesday, December 18th. Morgan Stanley cut their target price on shares of Sysco from $79.00 to $77.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 29th. Wells Fargo & Company dropped their price objective 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. Melius assumed coverage on shares of Sysco in a report on Wednesday, December 18th. They set a "hold" rating and a $85.00 price objective on the stock. Finally, JPMorgan Chase & Co. dropped their price objective 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 analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.38.

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.