Apollon Wealth Management LLC Trims Position in Sysco Co. (NYSE:SYY)

Apollon Wealth Management LLC cut its position in Sysco Co. (NYSE:SYY - Free Report) by 68.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,596 shares of the company's stock after selling 16,648 shares during the period. Apollon Wealth Management LLC's holdings in Sysco were worth $593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of SYY. Capital Research Global Investors increased its holdings in shares of Sysco by 112.8% in the first 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 during the last quarter. ProShare Advisors LLC raised its position in shares of Sysco by 103.0% during the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company's stock valued at $338,830,000 after buying an additional 2,408,226 shares in the last quarter. Swedbank AB bought a new position in shares of Sysco in the 1st quarter valued at about $178,824,000. Diamond Hill Capital Management Inc. grew its position in Sysco by 49.8% in the second quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company's stock worth $429,240,000 after acquiring an additional 1,997,895 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in Sysco by 26.1% during 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 period. Institutional investors own 83.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Sysco from $85.00 to $88.00 and gave the company an "overweight" rating in a research report on Monday, September 16th. Jefferies Financial Group boosted their target price on Sysco from $91.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, September 25th. Barclays upped their price objective on Sysco from $85.00 to $88.00 and gave the company an "overweight" rating in a research report on Wednesday, July 31st. Wells Fargo & Company cut 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. Finally, StockNews.com lowered shares of Sysco from a "strong-buy" rating to a "buy" rating in a report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $85.77.

Sysco Stock Down 0.0 %

SYY stock traded down $0.01 during trading on Friday, hitting $74.95. 2,636,588 shares of the company's stock traded hands, compared to its average volume of 3,109,526. The business has a fifty day simple moving average of $75.93 and a two-hundred day simple moving average of $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. The firm has a market capitalization of $36.82 billion, a P/E ratio of 19.27, a PEG ratio of 1.97 and a beta of 1.20. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.89.

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

Insider Buying and Selling at Sysco

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

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.