Swedbank Buys New Stake in Sysco Co. (NYSE:SYY)

Swedbank bought a new stake in Sysco Co. (NYSE:SYY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,621,498 shares of the company’s stock, valued at approximately $118,840,000. Swedbank owned 0.32% of Sysco as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SYY. Knuff & Co LLC bought a new stake in Sysco during the third quarter worth about $25,000. Core Wealth Advisors Inc. acquired a new position in shares of Sysco during the fourth quarter worth approximately $26,000. Berman Capital Advisors LLC lifted its position in shares of Sysco by 102.2% during the third quarter. Berman Capital Advisors LLC now owns 544 shares of the company’s stock worth $33,000 after purchasing an additional 275 shares in the last quarter. Weaver Consulting Group lifted its position in shares of Sysco by 92.9% during the third quarter. Weaver Consulting Group now owns 623 shares of the company’s stock worth $39,000 after purchasing an additional 300 shares in the last quarter. Finally, Baron Financial Group LLC acquired a new position in shares of Sysco during the third quarter worth approximately $44,000. 81.02% of the stock is currently owned by hedge funds and other institutional investors.

SYY opened at $78.66 on Tuesday. The firm’s fifty day moving average is $75.49 and its two-hundred day moving average is $68.43. The company has a debt-to-equity ratio of 9.56, a quick ratio of 1.30 and a current ratio of 1.73. The firm has a market cap of $40.15 billion, a PE ratio of -1,123.55, a price-to-earnings-growth ratio of 3.79 and a beta of 1.38. Sysco Co. has a twelve month low of $26.00 and a twelve month high of $79.96.

Sysco (NYSE:SYY) last posted its earnings results 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 firm had revenue of $11.56 billion during the quarter, compared to analyst estimates 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 for the quarter was down 23.1% on a year-over-year basis. During the same quarter last year, the business posted $0.85 earnings per share. Equities analysts forecast that Sysco Co. will post 1.83 EPS for the current fiscal year.

In other news, EVP Greg D. Bertrand sold 36,403 shares of the stock in a transaction on Monday, December 7th. The shares were sold at an average price of $76.97, for a total transaction of $2,801,938.91. Following the completion of the sale, the executive vice president now owns 74,806 shares of the company’s stock, valued at $5,757,817.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joshua D. Frank sold 76,677 shares of the stock in a transaction on Friday, November 27th. The stock was sold at an average price of $71.44, for a total transaction of $5,477,804.88. Following the sale, the director now directly owns 4,840 shares of the company’s stock, valued at approximately $345,769.60. The disclosure for this sale can be found here. Insiders have sold 663,080 shares of company stock valued at $48,385,744 in the last three months. 5.17% of the stock is owned by insiders.

Several equities analysts recently weighed in on the stock. Barclays increased their price objective on shares of Sysco from $62.00 to $65.00 in a report on Wednesday, December 2nd. 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 report on Tuesday, January 19th. 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 report on Wednesday, January 27th. Zacks Investment Research lowered shares of Sysco from a “hold” rating to a “sell” rating and set a $77.00 price objective on the stock. in a report on Wednesday, February 3rd. Finally, 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 report on Wednesday, December 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $77.56.

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 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.

Further Reading: Economic Reports

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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