Achmea Investment Management B.V. raised its stake in SYSCO Co. (NYSE:SYY) by 5.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 114,527 shares of the company’s stock after buying an additional 6,250 shares during the period. Achmea Investment Management B.V.’s holdings in SYSCO were worth $8,386,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Global Financial Private Capital LLC grew its position in shares of SYSCO by 45.5% in the 3rd quarter. Global Financial Private Capital LLC now owns 73,726 shares of the company’s stock valued at $5,400,000 after buying an additional 23,071 shares during the last quarter. Regal Investment Advisors LLC lifted its stake in shares of SYSCO by 75.8% in the 3rd quarter. Regal Investment Advisors LLC now owns 16,017 shares of the company’s stock valued at $1,173,000 after purchasing an additional 6,907 shares during the period. Penserra Capital Management LLC acquired a new position in shares of SYSCO in the 3rd quarter valued at about $1,565,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in shares of SYSCO by 35.9% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,257 shares of the company’s stock valued at $312,000 after purchasing an additional 1,125 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of SYSCO by 51.4% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 573,503 shares of the company’s stock valued at $42,009,000 after purchasing an additional 194,769 shares during the period. Hedge funds and other institutional investors own 80.11% of the company’s stock.
A number of research analysts have recently issued reports on SYY shares. Wells Fargo & Co boosted their price objective on SYSCO from $71.00 to $80.00 and gave the company a “$70.32” rating in a research note on Wednesday, July 18th. They noted that the move was a valuation call. ValuEngine raised SYSCO from a “hold” rating to a “buy” rating in a research note on Monday, August 13th. Loop Capital boosted their price objective on SYSCO to $80.00 and gave the company a “buy” rating in a research note on Tuesday, August 14th. Argus boosted their price objective on SYSCO from $67.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, August 16th. Finally, Buckingham Research assumed coverage on SYSCO in a research note on Monday, October 22nd. They issued a “buy” rating and a $82.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. SYSCO has a consensus rating of “Hold” and a consensus price target of $73.15.
Shares of SYSCO stock opened at $66.81 on Friday. The company has a market capitalization of $33.56 billion, a PE ratio of 21.28, a P/E/G ratio of 1.77 and a beta of 0.56. SYSCO Co. has a 52 week low of $53.65 and a 52 week high of $75.98. 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 the consensus estimate of $0.92 by ($0.01). The company had revenue of $15.22 billion during the quarter, compared to analysts’ expectations of $15.39 billion. SYSCO had a return on equity of 68.81% and a net margin of 2.52%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $0.74 earnings per share. On average, equities research analysts predict that SYSCO Co. will post 3.42 earnings per share for the current fiscal year.
In other news, Director Richard G. Tilghman sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The stock was 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 $4,882,233.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Brian R. Todd sold 9,147 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $73.82, for a total value of $675,231.54. Following the completion of the transaction, the senior vice president now directly owns 11,747 shares of the company’s stock, valued at $867,163.54. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,969,811 shares of company stock valued at $297,370,093. Company insiders own 7.88% of the company’s stock.
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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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