BTC Capital Management Inc. grew its position in SYSCO Co. (NYSE:SYY) by 2.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,983 shares of the company’s stock after purchasing an additional 1,316 shares during the quarter. BTC Capital Management Inc.’s holdings in SYSCO were worth $3,730,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC bought a new position in SYSCO during the second quarter worth $25,000. SRS Capital Advisors Inc. bought a new stake in SYSCO in the 2nd quarter valued at $28,000. Coastal Capital Group Inc. bought a new stake in SYSCO in the 2nd quarter valued at $29,000. Neo Ivy Capital Management bought a new stake in SYSCO in the 2nd quarter valued at $32,000. Finally, FinTrust Capital Advisors LLC increased its holdings in SYSCO by 55.2% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 523 shares of the company’s stock valued at $37,000 after buying an additional 186 shares during the period. 78.62% of the stock is currently owned by institutional investors.
NYSE SYY traded down $0.50 on Friday, hitting $80.40. 1,736,330 shares of the company were exchanged, compared to its average volume of 2,745,985. The firm has a 50 day moving average of $79.14 and a two-hundred day moving average of $74.07. The company has a market cap of $41.00 billion, a P/E ratio of 22.65, a P/E/G ratio of 2.24 and a beta of 0.48. The company has a current ratio of 1.39, a quick ratio of 0.81 and a debt-to-equity ratio of 3.74. SYSCO Co. has a 1-year low of $59.44 and a 1-year high of $81.60.
SYSCO (NYSE:SYY) last issued its quarterly earnings results 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 business had revenue of $15.30 billion for the quarter, compared to the consensus estimate of $15.53 billion. SYSCO had a net margin of 2.82% and a return on equity of 79.60%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS. Research analysts anticipate that SYSCO Co. will post 3.83 EPS for the current fiscal year.
In other SYSCO news, Director Hans-Joachim Koerber sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $73.35, for a total transaction of $733,500.00. Following the transaction, the director now directly owns 52,872 shares in the company, valued at approximately $3,878,161.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John M. Cassaday sold 20,203 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $77.23, for a total transaction of $1,560,277.69. Following the transaction, the director now owns 52,785 shares in the company, valued at $4,076,585.55. The disclosure for this sale can be found here. In the last quarter, insiders have sold 182,277 shares of company stock worth $14,357,991. 5.24% of the stock is owned by corporate insiders.
Several equities research analysts have issued reports on the stock. Wells Fargo & Co reissued a “buy” rating on shares of SYSCO in a report on Monday, August 12th. 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. Credit Suisse Group boosted their target price on shares of SYSCO from $79.00 to $89.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Barclays boosted their target price on shares of SYSCO from $70.00 to $71.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. boosted their target price on shares of SYSCO from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. SYSCO has an average rating of “Hold” and an average price target of $77.40.
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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