Keybank National Association OH raised its position in shares of SYSCO Co. (NYSE:SYY) by 6.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 39,448 shares of the company’s stock after purchasing an additional 2,519 shares during the quarter. Keybank National Association OH’s holdings in SYSCO were worth $3,132,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bath Savings Trust Co increased its position in shares of SYSCO by 0.5% during the second quarter. Bath Savings Trust Co now owns 35,920 shares of the company’s stock worth $2,540,000 after purchasing an additional 186 shares in the last quarter. Woodstock Corp increased its position in shares of SYSCO by 0.5% during the second quarter. Woodstock Corp now owns 85,741 shares of the company’s stock worth $6,064,000 after purchasing an additional 400 shares in the last quarter. Rockland Trust Co. purchased a new stake in SYSCO in the 2nd quarter valued at $240,000. DNB Asset Management AS grew its holdings in SYSCO by 20.5% in the 2nd quarter. DNB Asset Management AS now owns 159,909 shares of the company’s stock valued at $11,309,000 after buying an additional 27,210 shares in the last quarter. Finally, First National Bank of Mount Dora Trust Investment Services grew its holdings in SYSCO by 23.1% in the 2nd quarter. First National Bank of Mount Dora Trust Investment Services now owns 23,920 shares of the company’s stock valued at $1,691,000 after buying an additional 4,496 shares in the last quarter. 78.62% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on the company. BMO Capital Markets upped their target price on SYSCO to $88.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Bank of America upped their target price on SYSCO from $76.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Loop Capital upped their target price on SYSCO to $86.00 and gave the company a “buy” rating in a report on Friday, October 25th. Wells Fargo & Co restated a “buy” rating on shares of SYSCO in a report on Monday, August 12th. Finally, Barclays upped their target price on SYSCO from $70.00 to $71.00 and gave the company an “equal weight” rating in a report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $77.40.
Shares of NYSE SYY traded down $0.50 during mid-day trading on Friday, reaching $80.40. 1,736,330 shares of the company’s stock were exchanged, compared to its average volume of 2,745,985. The firm has a market capitalization of $41.00 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 2.24 and a beta of 0.48. 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 52-week low of $59.44 and a 52-week high of $81.60. The company’s 50-day moving average is $79.14 and its 200-day moving average is $74.07.
SYSCO (NYSE:SYY) last released its quarterly earnings results on Monday, November 4th. The company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. The business 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 company’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.91 EPS. As a group, equities analysts predict that SYSCO Co. will post 3.83 earnings per share for the current fiscal year.
In other news, CEO Thomas Bene sold 39,384 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $78.12, for a total transaction of $3,076,678.08. Following the completion of the transaction, the chief executive officer now directly owns 132,929 shares in the company, valued at approximately $10,384,413.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Greg D. Bertrand sold 25,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $81.06, for a total value of $2,026,500.00. Following the transaction, the executive vice president now owns 54,879 shares of the company’s stock, valued at $4,448,491.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 182,277 shares of company stock valued at $14,357,991. Company insiders own 5.24% of the company’s stock.
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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