Eagle Asset Management Inc. decreased its holdings in shares of SYSCO Co. (NYSE:SYY) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 373,590 shares of the company’s stock after selling 9,730 shares during the quarter. Eagle Asset Management Inc.’s holdings in SYSCO were worth $22,537,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Exane Derivatives boosted its holdings in SYSCO by 137.8% during the third quarter. Exane Derivatives now owns 48,699 shares of the company’s stock worth $2,627,000 after purchasing an additional 28,217 shares during the last quarter. FDx Advisors Inc. boosted its holdings in SYSCO by 27.6% during the third quarter. FDx Advisors Inc. now owns 35,396 shares of the company’s stock worth $1,910,000 after purchasing an additional 7,652 shares during the last quarter. Vident Investment Advisory LLC acquired a new stake in SYSCO in the third quarter valued at $393,000. Chicago Partners Investment Group LLC lifted its stake in SYSCO by 637.5% in the third quarter. Chicago Partners Investment Group LLC now owns 5,900 shares of the company’s stock valued at $318,000 after acquiring an additional 5,100 shares during the last quarter. Finally, Quantum Capital Management acquired a new stake in SYSCO in the third quarter valued at $863,000. Institutional investors and hedge funds own 77.72% of the company’s stock.
Shares of SYSCO Co. (NYSE SYY) opened at $60.00 on Tuesday. The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.85 and a current ratio of 1.38. The stock has a market cap of $31,315.13, a PE ratio of 22.81, a PEG ratio of 2.01 and a beta of 0.56. SYSCO Co. has a 12 month low of $48.85 and a 12 month high of $64.27.
SYSCO (NYSE:SYY) last posted its earnings results on Monday, February 5th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. The company had revenue of $14.41 billion during the quarter, compared to analysts’ expectations of $14.15 billion. SYSCO had a net margin of 2.10% and a return on equity of 61.02%. SYSCO’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.58 EPS. research analysts forecast that SYSCO Co. will post 2.95 earnings per share for the current year.
A number of analysts have commented on SYY shares. Pivotal Research reiterated a “hold” rating and issued a $53.00 price target on shares of SYSCO in a research note on Sunday, November 5th. Loop Capital increased their price target on shares of SYSCO to $68.00 and gave the company a “buy” rating in a research note on Monday, December 11th. BMO Capital Markets set a $66.00 price target on shares of SYSCO and gave the company a “buy” rating in a research note on Friday, December 8th. Zacks Investment Research cut shares of SYSCO from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, Morgan Stanley upgraded shares of SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 price target for the company in a research note on Tuesday, January 16th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $65.20.
In other news, SVP William W. Goetz sold 11,323 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $62.00, for a total transaction of $702,026.00. Following the completion of the sale, the senior vice president now owns 35,825 shares in the company, valued at approximately $2,221,150. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Wayne Shurts sold 7,800 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $61.76, for a total transaction of $481,728.00. Following the sale, the executive vice president now owns 55,235 shares of the company’s stock, valued at approximately $3,411,313.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 144,695 shares of company stock valued at $8,759,223. 9.60% of the stock is currently owned by corporate insiders.
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SYSCO Company Profile
Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.
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