Private Advisor Group LLC increased its position in shares of SYSCO Co. (NYSE:SYY) by 66.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,790 shares of the company’s stock after purchasing an additional 15,431 shares during the period. Private Advisor Group LLC’s holdings in SYSCO were worth $2,841,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. MUFG Securities EMEA plc bought a new stake in SYSCO in the 2nd quarter valued at $14,719,000. Homrich & Berg increased its holdings in SYSCO by 12.7% in the 2nd quarter. Homrich & Berg now owns 13,659 shares of the company’s stock valued at $933,000 after acquiring an additional 1,538 shares during the last quarter. Spears Abacus Advisors LLC bought a new stake in SYSCO in the 2nd quarter valued at $212,000. NumerixS Investment Technologies Inc bought a new stake in SYSCO in the 2nd quarter valued at $1,008,000. Finally, Golub Group LLC increased its holdings in SYSCO by 4.6% in the 2nd quarter. Golub Group LLC now owns 34,278 shares of the company’s stock valued at $2,341,000 after acquiring an additional 1,512 shares during the last quarter. Hedge funds and other institutional investors own 80.11% of the company’s stock.
In other SYSCO news, Director Richard G. Tilghman sold 5,000 shares of SYSCO stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $73.82, for a total value of $369,100.00. Following the completion of the transaction, the director now directly owns 66,137 shares of the company’s stock, valued at approximately $4,882,233.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joshua D. Frank sold 1,013,666 shares of SYSCO stock in a transaction on Monday, September 10th. The stock was sold at an average price of $75.09, for a total transaction of $76,116,179.94. Following the completion of the transaction, the director now directly owns 4,005 shares of the company’s stock, valued at $300,735.45. The disclosure for this sale can be found here. Insiders sold a total of 3,969,811 shares of company stock valued at $297,370,093 over the last three months. Corporate insiders own 7.88% of the company’s stock.
Shares of NYSE:SYY opened at $66.81 on Friday. SYSCO Co. has a 52 week low of $53.65 and a 52 week high of $75.98. The firm has a market capitalization of $33.56 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 1.77 and a beta of 0.56. The company has a debt-to-equity ratio of 3.00, a current ratio of 1.30 and a quick ratio of 0.74.
SYSCO (NYSE:SYY) last issued its quarterly earnings data on Monday, November 5th. The company reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.01). SYSCO had a return on equity of 68.81% and a net margin of 2.52%. The business had revenue of $15.22 billion during the quarter, compared to analysts’ expectations of $15.39 billion. During the same period in the previous year, the business earned $0.74 earnings per share. The business’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, research analysts expect that SYSCO Co. will post 3.42 EPS for the current fiscal year.
A number of analysts have issued reports on the stock. ValuEngine downgraded shares of SYSCO from a “buy” rating to a “hold” rating in a report on Tuesday. Royal Bank of Canada reduced their price target on shares of SYSCO from $67.00 to $65.00 and set a “sector perform” rating on the stock in a report on Tuesday. Jefferies Financial Group set a $68.00 price target on shares of SYSCO and gave the company a “hold” rating in a report on Monday, August 13th. Loop Capital reduced their price target on shares of SYSCO to $75.00 and set a “buy” rating on the stock in a report on Tuesday. They noted that the move was a valuation call. Finally, BMO Capital Markets reduced their price target on shares of SYSCO from $81.00 to $79.00 and set a “buy” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. SYSCO currently has an average rating of “Hold” and a consensus target price of $73.15.
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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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