Robeco Institutional Asset Management B.V. boosted its stake in shares of SYSCO Co. (NYSE:SYY) by 2.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,924,693 shares of the company’s stock after buying an additional 44,900 shares during the period. Robeco Institutional Asset Management B.V. owned 0.37% of SYSCO worth $140,985,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Sumitomo Life Insurance Co. lifted its stake in shares of SYSCO by 4.1% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 19,123 shares of the company’s stock valued at $1,306,000 after purchasing an additional 758 shares during the last quarter. Eastern Bank lifted its stake in shares of SYSCO by 0.4% in the 2nd quarter. Eastern Bank now owns 212,281 shares of the company’s stock valued at $14,497,000 after purchasing an additional 773 shares during the last quarter. World Asset Management Inc lifted its stake in shares of SYSCO by 2.1% in the 2nd quarter. World Asset Management Inc now owns 38,744 shares of the company’s stock valued at $2,646,000 after purchasing an additional 800 shares during the last quarter. Wendell David Associates Inc. lifted its stake in shares of SYSCO by 0.9% in the 3rd quarter. Wendell David Associates Inc. now owns 89,235 shares of the company’s stock valued at $6,536,000 after purchasing an additional 800 shares during the last quarter. Finally, CIBC World Markets Inc. lifted its stake in shares of SYSCO by 19.7% in the 2nd quarter. CIBC World Markets Inc. now owns 4,876 shares of the company’s stock valued at $333,000 after purchasing an additional 803 shares during the last quarter. 80.11% of the stock is currently owned by institutional investors.
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 current ratio of 1.30, a quick ratio of 0.74 and a debt-to-equity ratio of 3.00. The stock has a market cap of $34.54 billion, a P/E ratio of 20.90, a PEG ratio of 1.92 and a beta of 0.56.
SYSCO (NYSE:SYY) last posted its earnings results on Monday, November 5th. The company reported $0.91 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.01). SYSCO had a return on equity of 68.81% and a net margin of 2.52%. The firm had revenue of $15.22 billion for the quarter, compared to analyst estimates of $15.39 billion. During the same period in the previous year, the company posted $0.74 EPS. SYSCO’s revenue was up 3.9% on a year-over-year basis. Equities analysts forecast that SYSCO Co. will post 3.4 earnings per share for the current year.
In other SYSCO news, SVP Brian R. Todd sold 9,147 shares of the company’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $73.82, for a total transaction of $675,231.54. Following the sale, the senior vice president now owns 11,747 shares in the company, valued at approximately $867,163.54. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Joshua D. Frank sold 816,640 shares of the company’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $75.00, for a total value of $61,248,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,969,811 shares of company stock worth $297,370,093. 7.88% of the stock is owned by company insiders.
SYY has been the topic of several recent analyst reports. Morgan Stanley upped their price target on 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 increased their target price on SYSCO from $71.00 to $80.00 and gave the stock a “$70.32” rating in a research note on Wednesday, July 18th. They noted that the move was a valuation call. Zacks Investment Research lowered SYSCO from a “hold” rating to a “sell” rating in a research note on Monday, July 23rd. ValuEngine lowered SYSCO from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, Pivotal Research lowered SYSCO from a “hold” rating to a “sell” rating and set a $58.00 target price on the stock. in a research note on Friday, August 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $73.15.
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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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