Gulf International Bank UK Ltd increased its holdings in shares of SYSCO Co. (NYSE:SYY) by 7.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 167,925 shares of the company’s stock after purchasing an additional 11,300 shares during the period. Gulf International Bank UK Ltd’s holdings in SYSCO were worth $12,300,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Blue Chip Partners Inc. purchased a new stake in SYSCO during the 2nd quarter worth $104,000. Quad Cities Investment Group LLC purchased a new stake in SYSCO during the 2nd quarter worth $111,000. Flagship Harbor Advisors LLC purchased a new stake in SYSCO during the 2nd quarter worth $121,000. Fort L.P. purchased a new stake in SYSCO during the 2nd quarter worth $123,000. Finally, Daiwa SB Investments Ltd. purchased a new stake in SYSCO during the 3rd quarter worth $132,000. 80.11% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently weighed in on the stock. Loop Capital set a $75.00 price target on shares of SYSCO and gave the stock a “buy” rating in a research report on Tuesday. They noted that the move was a valuation call. BMO Capital Markets set a $79.00 price target on shares of SYSCO and gave the stock a “buy” rating in a research report on Tuesday. Credit Suisse Group set a $75.00 price target on shares of SYSCO and gave the stock a “buy” rating in a research report on Tuesday. ValuEngine cut shares of SYSCO from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Morgan Stanley set a $69.00 price target on shares of SYSCO and gave the stock a “hold” rating in a research report on Tuesday. 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 stock. SYSCO currently has a consensus rating of “Hold” and a consensus price target of $73.15.
Shares of SYY stock opened at $64.45 on Wednesday. SYSCO Co. has a 12 month low of $52.30 and a 12 month high of $75.98. The company has a current ratio of 1.21, a quick ratio of 0.74 and a debt-to-equity ratio of 3.01. The firm has a market capitalization of $37.12 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 1.93 and a beta of 0.56.
SYSCO (NYSE:SYY) last issued its quarterly earnings data on Monday, November 5th. The company reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.01). SYSCO had a return on equity of 68.15% and a net margin of 2.44%. The firm had revenue of $15.22 billion during the quarter, compared to analyst estimates of $15.39 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. Sell-side analysts forecast that SYSCO Co. will post 3.44 EPS for the current fiscal year.
In other news, Director Richard G. Tilghman sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $73.82, for a total value of $369,100.00. Following the sale, the director now owns 66,137 shares in the company, valued at approximately $4,882,233.34. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Joshua D. Frank sold 1,013,666 shares of the company’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $75.09, for a total transaction of $76,116,179.94. Following the completion of the sale, the director now owns 4,005 shares in the company, valued at approximately $300,735.45. The disclosure for this sale can be found here. Insiders sold a total of 3,969,811 shares of company stock worth $297,370,093 in the last quarter. 7.88% of the stock is currently owned by company insiders.
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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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