Principal Financial Group Inc. Has $44.90 Million Position in Sysco Co. (NYSE:SYY)

Principal Financial Group Inc. reduced its holdings in Sysco Co. (NYSE:SYY) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 587,179 shares of the company’s stock after selling 20,956 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of Sysco worth $44,896,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Sysco in the third quarter valued at about $26,000. Stonebridge Financial Group LLC acquired a new stake in shares of Sysco in the fourth quarter valued at about $31,000. Valley Wealth Managers Inc. acquired a new stake in shares of Sysco in the third quarter valued at about $31,000. Focused Wealth Management Inc acquired a new stake in Sysco during the third quarter worth about $37,000. Finally, Canoe Financial LP acquired a new stake in Sysco during the third quarter worth about $38,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Performance

NYSE:SYY opened at $71.12 on Friday. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.33. The firm has a 50 day moving average of $74.10 and a 200-day moving average of $75.69. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The stock has a market capitalization of $34.79 billion, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 1.85 and a beta of 1.17.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting 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 previous year, the company earned $0.89 earnings per share. As a group, sell-side analysts anticipate that Sysco Co. will post 4.58 EPS for the current fiscal year.

Insider Activity

In related news, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value 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. The trade was a 11.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Greg D. Bertrand sold 21,844 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 $1,747,520.00. Following the completion of the transaction, the executive vice president now owns 60,581 shares of the company’s stock, valued at $4,846,480. This trade represents a 26.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,370 shares of company stock worth $5,965,519. Insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on SYY. JPMorgan Chase & Co. decreased their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. UBS Group decreased their target price on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Guggenheim reissued a “buy” rating and set a $85.00 target price on shares of Sysco in a research report on Wednesday, January 29th. Finally, Melius began coverage on Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Sysco presently has an average rating of “Moderate Buy” and a consensus price target of $84.38.

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.