Bp Plc increased its position in SYSCO Co. (NYSE:SYY) by 22.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 131,000 shares of the company’s stock after purchasing an additional 24,000 shares during the quarter. Bp Plc’s holdings in SYSCO were worth $8,210,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of SYSCO by 3.9% in the 3rd quarter. Vanguard Group Inc. now owns 41,599,601 shares of the company’s stock valued at $3,047,170,000 after purchasing an additional 1,549,255 shares during the period. Vanguard Group Inc raised its holdings in shares of SYSCO by 3.9% in the 3rd quarter. Vanguard Group Inc now owns 41,599,601 shares of the company’s stock valued at $3,047,170,000 after purchasing an additional 1,549,255 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of SYSCO by 18,997.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,960,810 shares of the company’s stock valued at $159,000 after purchasing an additional 9,908,653 shares during the period. Parnassus Investments CA raised its holdings in shares of SYSCO by 18.8% in the 4th quarter. Parnassus Investments CA now owns 8,359,497 shares of the company’s stock valued at $523,806,000 after purchasing an additional 1,320,866 shares during the period. Finally, Morgan Stanley raised its holdings in shares of SYSCO by 26.0% in the 3rd quarter. Morgan Stanley now owns 4,910,163 shares of the company’s stock valued at $359,669,000 after purchasing an additional 1,013,430 shares during the period. 80.93% of the stock is currently owned by institutional investors.
In other SYSCO news, EVP Robert S. Charlton sold 22,321 shares of the stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $65.83, for a total value of $1,469,391.43. Following the transaction, the executive vice president now directly owns 61,460 shares of the company’s stock, valued at approximately $4,045,911.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Trian Fund Management, L.P. sold 1,524,475 shares of the stock in a transaction dated Wednesday, November 28th. The shares were sold at an average price of $66.50, for a total transaction of $101,377,587.50. Following the completion of the transaction, the director now directly owns 7,055 shares in the company, valued at $469,157.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,822,484 shares of company stock worth $253,882,971. Insiders own 7.88% of the company’s stock.
A number of brokerages have recently issued reports on SYY. Morgan Stanley dropped their target price on shares of SYSCO from $71.00 to $69.00 and set a “hold” rating on the stock in a report on Tuesday, November 6th. Credit Suisse Group dropped their target price on shares of SYSCO from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, November 6th. BMO Capital Markets dropped their target price on shares of SYSCO from $81.00 to $79.00 and set a “buy” rating on the stock in a report on Tuesday, November 6th. Loop Capital dropped their target price on shares of SYSCO to $75.00 and set a “buy” rating on the stock in a report on Tuesday, November 6th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of SYSCO from a “sell” rating to a “hold” rating in a report on Wednesday, February 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. SYSCO presently has a consensus rating of “Hold” and a consensus price target of $72.92.
SYSCO stock opened at $66.53 on Thursday. The stock has a market capitalization of $34.37 billion, a price-to-earnings ratio of 21.19, a P/E/G ratio of 1.89 and a beta of 0.53. The company has a current ratio of 1.25, a quick ratio of 0.76 and a debt-to-equity ratio of 3.70. SYSCO Co. has a twelve month low of $58.01 and a twelve month high of $75.98.
SYSCO (NYSE:SYY) last released its quarterly earnings results on Monday, February 4th. The company reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.03. The firm had revenue of $14.80 billion for the quarter, compared to analysts’ expectations of $14.75 billion. SYSCO had a net margin of 2.48% and a return on equity of 71.45%. The business’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.78 EPS. As a group, equities analysts forecast that SYSCO Co. will post 3.4 earnings per share for the current fiscal year.
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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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