Advisor Partners LLC increased its stake in SYSCO Co. (NYSE:SYY) by 7.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,182 shares of the company’s stock after purchasing an additional 874 shares during the quarter. Advisor Partners LLC’s holdings in SYSCO were worth $1,047,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp lifted its position in SYSCO by 0.3% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 703,653 shares of the company’s stock valued at $49,565,000 after buying an additional 1,921 shares in the last quarter. Buckingham Asset Management LLC raised its stake in shares of SYSCO by 12.2% during the second quarter. Buckingham Asset Management LLC now owns 28,476 shares of the company’s stock valued at $2,014,000 after purchasing an additional 3,105 shares during the period. Prudential Financial Inc. raised its stake in shares of SYSCO by 7.0% during the second quarter. Prudential Financial Inc. now owns 531,978 shares of the company’s stock valued at $37,621,000 after purchasing an additional 34,730 shares during the period. Krane Funds Advisors LLC purchased a new stake in shares of SYSCO during the second quarter valued at approximately $25,000. Finally, Brightworth raised its stake in shares of SYSCO by 3.0% during the second quarter. Brightworth now owns 77,258 shares of the company’s stock valued at $5,464,000 after purchasing an additional 2,267 shares during the period. Institutional investors and hedge funds own 78.62% of the company’s stock.
A number of analysts recently issued reports on the stock. Barclays lifted their price target on shares of SYSCO from $70.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 13th. Consumer Edge initiated coverage on shares of SYSCO in a research note on Wednesday, July 17th. They set an “underweight” rating and a $71.75 target price for the company. Bank of America boosted their target price on shares of SYSCO from $76.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. BMO Capital Markets boosted their target price on shares of SYSCO to $88.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, Loop Capital boosted their target price on shares of SYSCO to $86.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. SYSCO presently has a consensus rating of “Hold” and an average price target of $77.40.
NYSE SYY traded down $0.50 on Friday, reaching $80.40. The company’s stock had a trading volume of 1,736,330 shares, compared to its average volume of 2,745,985. SYSCO Co. has a twelve month low of $59.44 and a twelve month high of $81.60. The company has a debt-to-equity ratio of 3.74, a quick ratio of 0.81 and a current ratio of 1.39. The stock has a market cap of $41.00 billion, a PE ratio of 22.65, a PEG ratio of 2.24 and a beta of 0.48. The firm’s 50 day moving average is $79.14 and its two-hundred day moving average is $74.07.
SYSCO (NYSE:SYY) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.01. The firm had revenue of $15.30 billion for the quarter, compared to the consensus estimate of $15.53 billion. SYSCO had a return on equity of 79.60% and a net margin of 2.82%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 EPS. Equities research analysts anticipate that SYSCO Co. will post 3.83 EPS for the current fiscal year.
In related news, Director Hans-Joachim Koerber sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $73.35, for a total value of $733,500.00. Following the completion of the sale, the director now owns 52,872 shares of the company’s stock, valued at approximately $3,878,161.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Thomas Bene sold 39,384 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $78.12, for a total value of $3,076,678.08. Following the completion of the sale, the chief executive officer now directly owns 132,929 shares of the company’s stock, valued at approximately $10,384,413.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 182,277 shares of company stock worth $14,357,991. Corporate insiders own 5.24% of the company’s stock.
SYSCO Company Profile
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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