Hourglass Capital LLC Has $5.67 Million Holdings in Sysco Co. (NYSE:SYY)

Hourglass Capital LLC lessened its holdings in shares of Sysco Co. (NYSE:SYY) by 2.7% during the third quarter, Holdings Channel.com reports. The firm owned 72,575 shares of the company’s stock after selling 2,040 shares during the quarter. Hourglass Capital LLC’s holdings in Sysco were worth $5,665,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Cable Hill Partners LLC raised its stake in Sysco by 3.9% during the third quarter. Cable Hill Partners LLC now owns 4,049 shares of the company’s stock worth $316,000 after buying an additional 152 shares during the last quarter. Main Street Financial Solutions LLC raised its stake in Sysco by 43.1% during the third quarter. Main Street Financial Solutions LLC now owns 13,170 shares of the company’s stock worth $1,028,000 after buying an additional 3,968 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in Sysco by 1.5% during the third quarter. Oppenheimer & Co. Inc. now owns 48,080 shares of the company’s stock worth $3,753,000 after buying an additional 695 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in Sysco by 23.4% during the third quarter. Oppenheimer Asset Management Inc. now owns 33,057 shares of the company’s stock worth $2,580,000 after buying an additional 6,267 shares during the last quarter. Finally, GHE LLC raised its stake in Sysco by 7.9% during the third quarter. GHE LLC now owns 15,838 shares of the company’s stock worth $1,146,000 after buying an additional 1,162 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Down 0.8 %

Sysco stock opened at $76.66 on Thursday. Sysco Co. has a fifty-two week low of $67.77 and a fifty-two week high of $82.89. The stock has a market cap of $37.66 billion, a PE ratio of 19.71, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20. The firm’s 50-day simple moving average is $76.12 and its 200 day simple moving average is $74.73. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The company had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.07 earnings per share. Research analysts predict that Sysco Co. will post 4.57 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Barclays lifted their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Bank of America decreased their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Jefferies Financial Group lifted their price target on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, Wells Fargo & Company decreased their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $85.77.

Insider Buying and Selling at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at $3,638,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Sysco Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.