Regal Investment Advisors LLC increased its stake in shares of SYSCO Co. (NYSE:SYY) by 75.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,017 shares of the company’s stock after purchasing an additional 6,907 shares during the quarter. Regal Investment Advisors LLC’s holdings in SYSCO were worth $1,173,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Blue Chip Partners Inc. acquired a new stake in SYSCO in the second quarter valued at approximately $104,000. Quad Cities Investment Group LLC acquired a new stake in SYSCO in the second quarter valued at approximately $111,000. Flagship Harbor Advisors LLC acquired a new stake in SYSCO in the second quarter valued at approximately $121,000. Fort L.P. acquired a new stake in SYSCO in the second quarter valued at approximately $123,000. Finally, Daiwa SB Investments Ltd. acquired a new stake in SYSCO in the third quarter valued at approximately $132,000. Institutional investors and hedge funds own 80.11% of the company’s stock.
In other news, Director Joshua D. Frank sold 1,013,666 shares of SYSCO stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $75.09, for a total value of $76,116,179.94. Following the transaction, the director now owns 4,005 shares of the company’s stock, valued at $300,735.45. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Richard G. Tilghman sold 5,000 shares of SYSCO stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $68.62, for a total transaction of $343,100.00. Following the completion of the transaction, the director now directly owns 56,393 shares in the company, valued at approximately $3,869,687.66. The disclosure for this sale can be found here. In the last three months, insiders sold 3,969,811 shares of company stock worth $297,370,093. Insiders own 7.88% of the company’s stock.
SYY has been the subject of a number of analyst reports. Morgan Stanley lifted their target price on shares of SYSCO from $61.00 to $67.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 17th. Wells Fargo & Co lifted their target price on shares of 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. Zacks Investment Research cut shares of SYSCO from a “hold” rating to a “sell” rating in a research note on Monday, July 23rd. ValuEngine cut shares of SYSCO from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, Pivotal Research cut shares of SYSCO from a “hold” rating to a “sell” rating and set a $58.00 target price for the company. in a research note on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $73.15.
NYSE:SYY opened at $66.81 on Friday. SYSCO Co. has a 12 month low of $53.65 and a 12 month high of $75.98. The company has a market capitalization of $34.54 billion, a PE ratio of 20.90, a PEG ratio of 1.92 and a beta of 0.56. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.74 and a current ratio of 1.30.
SYSCO (NYSE:SYY) last released its quarterly earnings results on Monday, November 5th. The company reported $0.91 EPS for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.01). SYSCO had a net margin of 2.52% and a return on equity of 68.81%. The firm had revenue of $15.22 billion during the quarter, compared to the consensus estimate of $15.39 billion. During the same period in the prior year, the business earned $0.74 EPS. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. Analysts predict that SYSCO Co. will post 3.4 earnings per share for the current fiscal year.
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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