Schaper Benz & Wise Investment Counsel Inc. WI reduced its stake in shares of SYSCO Co. (NYSE:SYY) by 0.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 294,360 shares of the company’s stock after selling 1,932 shares during the quarter. SYSCO accounts for 2.9% of Schaper Benz & Wise Investment Counsel Inc. WI’s holdings, making the stock its 5th biggest holding. Schaper Benz & Wise Investment Counsel Inc. WI owned approximately 0.06% of SYSCO worth $23,372,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nuveen Asset Management LLC lifted its position in shares of SYSCO by 1,804.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,587,054 shares of the company’s stock worth $182,956,000 after buying an additional 2,451,242 shares during the last quarter. Eagle Asset Management Inc. raised its position in SYSCO by 334.8% in the second quarter. Eagle Asset Management Inc. now owns 1,765,438 shares of the company’s stock valued at $124,851,000 after purchasing an additional 1,359,384 shares during the last quarter. BlackRock Inc. raised its position in SYSCO by 3.3% in the second quarter. BlackRock Inc. now owns 31,130,419 shares of the company’s stock valued at $2,201,542,000 after purchasing an additional 1,004,706 shares during the last quarter. Public Employees Retirement Association of Colorado raised its position in SYSCO by 1,060.1% in the second quarter. Public Employees Retirement Association of Colorado now owns 1,086,842 shares of the company’s stock valued at $76,861,000 after purchasing an additional 993,153 shares during the last quarter. Finally, Bahl & Gaynor Inc. raised its position in SYSCO by 1,011.6% in the second quarter. Bahl & Gaynor Inc. now owns 1,029,119 shares of the company’s stock valued at $72,779,000 after purchasing an additional 936,539 shares during the last quarter. 78.62% of the stock is currently owned by institutional investors.
In other news, SVP Brian R. Todd sold 14,706 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $78.99, for a total value of $1,161,626.94. Following the completion of the sale, the senior vice president now owns 30,273 shares of the company’s stock, valued at $2,391,264.27. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Hans-Joachim Koerber sold 10,000 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $73.35, for a total value of $733,500.00. Following the completion of the sale, the director now directly owns 52,872 shares of the company’s stock, valued at approximately $3,878,161.20. The disclosure for this sale can be found here. In the last three months, insiders sold 182,277 shares of company stock valued at $14,357,991. Insiders own 5.24% of the company’s stock.
SYY has been the subject of several research reports. Bank of America increased their target price on SYSCO from $76.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Barclays increased their target price on SYSCO from $70.00 to $71.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 13th. BMO Capital Markets increased their target price on SYSCO to $88.00 and gave the company an “outperform” rating in a research report on Tuesday. Wells Fargo & Co reiterated a “buy” rating on shares of SYSCO in a research report on Monday, August 12th. Finally, Credit Suisse Group increased their target price on SYSCO from $79.00 to $89.00 and gave the company an “outperform” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $77.40.
Shares of SYY stock traded down $0.50 on Friday, hitting $80.40. The company had a trading volume of 1,750,853 shares, compared to its average volume of 2,745,985. The firm has a market cap of $41.00 billion, a P/E ratio of 22.65, a P/E/G ratio of 2.24 and a beta of 0.48. The stock’s 50-day moving average is $79.10 and its two-hundred day moving average is $74.02. The company has a debt-to-equity ratio of 3.74, a quick ratio of 0.81 and a current ratio of 1.39. SYSCO Co. has a twelve month low of $59.44 and a twelve month high of $81.60.
SYSCO (NYSE:SYY) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.01. The company had revenue of $15.30 billion during the quarter, compared to analysts’ expectations of $15.53 billion. SYSCO had a return on equity of 79.60% and a net margin of 2.82%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.91 earnings per share. Equities research analysts predict that SYSCO Co. will post 3.83 EPS for the current 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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