Kornitzer Capital Management Inc. KS Trims Stock Holdings in Sysco Co. (NYSE:SYY)

Kornitzer Capital Management Inc. KS lessened its stake in shares of Sysco Co. (NYSE:SYY) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in SYY. Venturi Wealth Management LLC raised its position in shares of Sysco by 290.8% in the fourth quarter. Venturi Wealth Management LLC now owns 17,387 shares of the company’s stock valued at $1,329,000 after buying an additional 12,938 shares during the last quarter. D.A. Davidson & CO. grew its stake in Sysco by 0.4% in the 4th quarter. D.A. Davidson & CO. now owns 172,523 shares of the company’s stock worth $13,191,000 after acquiring an additional 644 shares during the period. Empower Advisory Group LLC raised its holdings in Sysco by 4.1% in the 4th quarter. Empower Advisory Group LLC now owns 1,054,448 shares of the company’s stock valued at $80,623,000 after acquiring an additional 41,944 shares during the last quarter. Truist Financial Corp lifted its stake in shares of Sysco by 1.1% during the 4th quarter. Truist Financial Corp now owns 307,207 shares of the company’s stock worth $23,489,000 after purchasing an additional 3,484 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in shares of Sysco by 6.9% during the fourth quarter. CIBC Asset Management Inc now owns 88,472 shares of the company’s stock worth $6,765,000 after purchasing an additional 5,722 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Transactions at Sysco

In other news, SVP Eve M. Mcfadden sold 6,499 shares of Sysco stock in a transaction dated 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 of the company’s stock, valued at approximately $3,876,080. The trade was a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Greg D. Bertrand sold 21,844 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $1,747,520.00. Following the completion of the transaction, the executive vice president now directly owns 60,581 shares of the company’s stock, valued at $4,846,480. This represents a 26.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,370 shares of company stock valued at $5,965,519. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SYY. Wells Fargo & Company reduced their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Morgan Stanley cut their price objective 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. JPMorgan Chase & Co. lowered their target price on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, Jefferies Financial Group lifted their price target on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $84.38.

Sysco Trading Down 1.1 %

NYSE:SYY opened at $71.10 on Tuesday. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.33. The business’s 50-day moving average is $74.88 and its two-hundred day moving average is $75.83. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The firm has a market capitalization of $34.78 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the prior year, the company posted $0.89 EPS. Research analysts predict that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

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.