Ashton Thomas Private Wealth LLC Trims Stake in Sysco Co. (NYSE:SYY)

Ashton Thomas Private Wealth LLC cut its holdings in shares of Sysco Co. (NYSE:SYY) by 6.3% in the third quarter, HoldingsChannel.com reports. The firm owned 16,445 shares of the company’s stock after selling 1,105 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Sysco were worth $1,284,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SYY. National Pension Service boosted its stake in Sysco by 15.6% during the third quarter. National Pension Service now owns 1,237,017 shares of the company’s stock worth $96,562,000 after buying an additional 166,798 shares during the period. ORG Partners LLC increased its holdings in Sysco by 3,159.0% in the 2nd quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock valued at $495,000 after purchasing an additional 6,855 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in Sysco by 11.2% in the third 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 period. Mizuho Markets Americas LLC lifted its stake in Sysco by 102.1% during the first quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock worth $11,355,000 after purchasing an additional 70,660 shares in the last quarter. Finally, Wedge Capital Management L L P NC boosted its position in shares of Sysco by 11.6% during the second quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock worth $12,577,000 after buying an additional 18,296 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction that occurred on Friday, November 1st. The stock was 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 approximately $3,638,670.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Sysco Stock Performance

NYSE SYY opened at $76.66 on Thursday. The company has a fifty day moving average of $76.12 and a two-hundred day moving average of $74.73. The company has a market capitalization of $37.66 billion, a PE ratio of 19.71, a P/E/G ratio of 2.03 and a beta of 1.20. Sysco Co. has a 1 year low of $67.77 and a 1 year high of $82.89. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73.

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

Analyst Upgrades and Downgrades

SYY has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. Barclays raised their price objective 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 cut their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Finally, Jefferies Financial Group boosted their price target on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.77.

About Sysco

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.