Partners Wealth Management LLC Purchases New Position in Sysco Co. (NYSE:SYY)

Partners Wealth Management LLC purchased a new stake in Sysco Co. (NYSE:SYY) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,808 shares of the company’s stock, valued at approximately $215,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SYY. State Street Corp boosted its stake in Sysco by 11.1% during the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock worth $2,130,617,000 after acquiring an additional 2,721,449 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Sysco by 11.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after purchasing an additional 672,940 shares during the last quarter. Primecap Management Co. CA increased its holdings in shares of Sysco by 9.7% in the 3rd quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock worth $374,410,000 after purchasing an additional 422,954 shares in the last quarter. Montrusco Bolton Investments Inc. boosted its holdings in shares of Sysco by 8.5% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock valued at $366,789,000 after acquiring an additional 375,409 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Sysco by 4.1% during the third quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock valued at $332,983,000 after purchasing an additional 168,163 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Transactions at Sysco

In other news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Eve M. Mcfadden sold 6,499 shares of Sysco stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $519,920.00. Following the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,876,080. The trade was a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,370 shares of company stock worth $5,965,519. Insiders own 0.54% of the company’s stock.

Sysco Stock Up 2.8 %

Shares of NYSE SYY opened at $73.22 on Monday. The stock has a market capitalization of $35.82 billion, a price-to-earnings ratio of 18.82, a P/E/G ratio of 1.88 and a beta of 1.17. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.33. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The firm’s 50-day moving average price is $73.96 and its 200-day moving average price is $75.68.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period in the prior year, the firm earned $0.89 earnings per share. On average, equities research analysts anticipate that Sysco Co. will post 4.58 EPS for the current fiscal year.

Analyst Ratings Changes

SYY has been the subject of a number of research reports. Guggenheim reiterated a “buy” rating and set a $85.00 price objective on shares of Sysco in a research report on Wednesday, January 29th. UBS Group reduced their price target on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Melius Research raised shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. Morgan Stanley reduced their target price on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Finally, Wells Fargo & Company dropped their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and an average target price of $84.38.

Sysco Company 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.