Fisher Asset Management LLC purchased a new position in shares of SYSCO Co. (NYSE:SYY) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,175 shares of the company’s stock, valued at approximately $233,000.
Several other large investors also recently bought and sold shares of SYY. DnB Asset Management AS increased its holdings in shares of SYSCO by 8.7% during the 2nd quarter. DnB Asset Management AS now owns 80,358 shares of the company’s stock worth $5,488,000 after acquiring an additional 6,400 shares during the last quarter. IFM Investors Pty Ltd increased its holdings in shares of SYSCO by 47.2% during the 2nd quarter. IFM Investors Pty Ltd now owns 23,005 shares of the company’s stock worth $1,571,000 after acquiring an additional 7,381 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of SYSCO by 17.1% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 8,924 shares of the company’s stock worth $609,000 after acquiring an additional 1,300 shares during the last quarter. Capital Investment Services of America Inc. acquired a new position in shares of SYSCO during the 2nd quarter worth approximately $220,000. Finally, State of Alaska Department of Revenue grew its holdings in SYSCO by 27.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 280,091 shares of the company’s stock valued at $19,125,000 after buying an additional 60,870 shares in the last quarter. 80.11% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have commented on SYY shares. Wells Fargo & Co upped their price objective on SYSCO from $71.00 to $80.00 and gave the company a “$70.32” rating in a report on Wednesday, July 18th. They noted that the move was a valuation call. ValuEngine raised SYSCO from a “hold” rating to a “buy” rating in a report on Monday, August 13th. Loop Capital upped their price objective on SYSCO to $80.00 and gave the company a “buy” rating in a report on Tuesday, August 14th. Argus upped their price objective on SYSCO from $67.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, August 16th. Finally, Buckingham Research started coverage on SYSCO in a report on Monday, October 22nd. They issued a “buy” rating and a $82.00 price objective on the stock. One investment 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 price target of $73.62.
Shares of NYSE SYY opened at $64.56 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 0.74 and a debt-to-equity ratio of 3.01. SYSCO Co. has a one year low of $52.30 and a one year high of $75.98. The firm has a market capitalization of $37.12 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 1.93 and a beta of 0.56.
SYSCO (NYSE:SYY) last released its earnings results on Monday, November 5th. The company reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.01). The company had revenue of $15.22 billion for the quarter, compared to the consensus estimate of $15.39 billion. SYSCO had a net margin of 2.44% and a return on equity of 68.15%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 earnings per share. Equities analysts forecast that SYSCO Co. will post 3.48 earnings per share for the current fiscal year.
In other news, Director Trian Fund Management, L.P. sold 2,115,358 shares of the company’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $74.81, for a total transaction of $158,249,931.98. Following the completion of the sale, the director now directly owns 4,005 shares in the company, valued at approximately $299,614.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard G. Tilghman sold 5,000 shares of the company’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $68.62, for a total value of $343,100.00. Following the sale, the director now owns 56,393 shares of the company’s stock, valued at $3,869,687.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,969,811 shares of company stock valued at $297,370,093. Corporate insiders own 7.88% of the company’s stock.
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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