Stanley Laman Group Ltd. lessened its stake in Sysco Co. (NYSE:SYY) by 6.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,189 shares of the company’s stock after selling 1,600 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Sysco were worth $1,796,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Core Wealth Advisors Inc. purchased a new position in shares of Sysco in the 4th quarter valued at about $26,000. Knuff & Co LLC purchased a new position in shares of Sysco in the 3rd quarter valued at about $25,000. Berman Capital Advisors LLC increased its holdings in shares of Sysco by 102.2% in the 3rd quarter. Berman Capital Advisors LLC now owns 544 shares of the company’s stock valued at $33,000 after purchasing an additional 275 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new position in shares of Sysco in the 4th quarter valued at about $45,000. Finally, Weaver Consulting Group increased its holdings in shares of Sysco by 92.9% in the 3rd quarter. Weaver Consulting Group now owns 623 shares of the company’s stock valued at $39,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 81.02% of the company’s stock.
In other news, Director Nelson Peltz sold 550,000 shares of the stock in a transaction dated Wednesday, December 2nd. The shares were sold at an average price of $72.92, for a total transaction of $40,106,000.00. Following the transaction, the director now directly owns 4,840 shares in the company, valued at approximately $352,932.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Greg D. Bertrand sold 36,403 shares of the stock in a transaction dated Monday, December 7th. The stock was sold at an average price of $76.97, for a total transaction of $2,801,938.91. Following the transaction, the executive vice president now owns 74,806 shares in the company, valued at $5,757,817.82. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 663,080 shares of company stock worth $48,385,744. Insiders own 5.17% of the company’s stock.
Sysco (NYSE:SYY) last announced its quarterly earnings data on Monday, February 1st. The company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.17). The company had revenue of $11.56 billion for the quarter, compared to analysts’ expectations of $12.30 billion. Sysco had a positive return on equity of 39.64% and a negative net margin of 0.04%. The company’s revenue was down 23.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.85 earnings per share. Equities research analysts forecast that Sysco Co. will post 1.83 earnings per share for the current fiscal year.
SYY has been the subject of a number of research analyst reports. Credit Suisse Group increased their price target on shares of Sysco from $76.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, November 4th. Morgan Stanley increased their price objective on shares of Sysco from $69.00 to $76.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 19th. Piper Sandler increased their price objective on shares of Sysco from $75.00 to $82.00 and gave the company an “overweight” rating in a research note on Wednesday, December 16th. JPMorgan Chase & Co. cut shares of Sysco from an “overweight” rating to a “neutral” rating and set a $76.00 price objective on the stock. in a research note on Monday, January 25th. They noted that the move was a valuation call. Finally, Wells Fargo & Company increased their price objective on shares of Sysco from $80.00 to $89.00 and gave the company an “overweight” rating in a research note on Wednesday, January 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Sysco presently has an average rating of “Hold” and an average target price of $77.56.
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 in the United States, Canada, the United Kingdom, France, and internationally. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other.
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