Sysco Corporation (SYY) Position Trimmed by Parsec Financial Management Inc.

Parsec Financial Management Inc. decreased its position in shares of Sysco Corporation (NYSE:SYY) by 5.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 266,197 shares of the company’s stock after selling 16,572 shares during the period. Parsec Financial Management Inc. owned approximately 0.05% of Sysco Corporation worth $14,361,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Kistler Tiffany Companies LLC raised its position in Sysco Corporation by 0.4% during the second quarter. Kistler Tiffany Companies LLC now owns 2,915 shares of the company’s stock valued at $147,000 after purchasing an additional 12 shares in the last quarter. Schnieders Capital Management LLC grew its stake in shares of Sysco Corporation by 0.4% during the second quarter. Schnieders Capital Management LLC now owns 4,070 shares of the company’s stock valued at $205,000 after buying an additional 18 shares during the last quarter. Blue Chip Partners Inc. grew its stake in shares of Sysco Corporation by 0.6% during the second quarter. Blue Chip Partners Inc. now owns 2,967 shares of the company’s stock valued at $149,000 after buying an additional 18 shares during the last quarter. Northwest Quadrant Wealth Management LLC grew its stake in shares of Sysco Corporation by 0.6% during the second quarter. Northwest Quadrant Wealth Management LLC now owns 5,169 shares of the company’s stock valued at $269,000 after buying an additional 29 shares during the last quarter. Finally, Keel Point LLC grew its stake in shares of Sysco Corporation by 0.8% during the second quarter. Keel Point LLC now owns 5,782 shares of the company’s stock valued at $291,000 after buying an additional 47 shares during the last quarter. Institutional investors and hedge funds own 80.07% of the company’s stock.

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In other news, insider Paul T. Moskowitz sold 16,667 shares of the business’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $54.12, for a total transaction of $902,018.04. Following the completion of the sale, the insider now owns 61,936 shares of the company’s stock, valued at approximately $3,351,976.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Wayne Shurts sold 15,600 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $51.76, for a total transaction of $807,456.00. Following the sale, the insider now directly owns 58,776 shares of the company’s stock, valued at approximately $3,042,245.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,125,781 shares of company stock valued at $114,211,628. Company insiders own 9.60% of the company’s stock.

Shares of Sysco Corporation (SYY) traded up $0.17 during midday trading on Friday, reaching $54.19. 1,717,800 shares of the company were exchanged, compared to its average volume of 2,435,198. Sysco Corporation has a 52 week low of $48.85 and a 52 week high of $57.23. The stock has a market cap of $28,236.03, a price-to-earnings ratio of 21.25, a P/E/G ratio of 2.51 and a beta of 0.53. The company has a debt-to-equity ratio of 3.77, a quick ratio of 0.83 and a current ratio of 1.40.

Sysco Corporation (NYSE:SYY) last announced its earnings results on Monday, November 6th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. The business had revenue of $14.65 billion during the quarter, compared to analyst estimates of $14.43 billion. Sysco Corporation had a net margin of 2.12% and a return on equity of 58.47%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.67 EPS. equities research analysts predict that Sysco Corporation will post 2.77 earnings per share for the current year.

SYY has been the topic of a number of recent research reports. BMO Capital Markets set a $60.00 price objective on Sysco Corporation and gave the company a “buy” rating in a research note on Thursday, August 3rd. Zacks Investment Research raised Sysco Corporation from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Friday, July 21st. Wells Fargo & Company reissued a “buy” rating on shares of Sysco Corporation in a research note on Monday, July 17th. Pivotal Research reissued a “hold” rating and issued a $53.00 target price on shares of Sysco Corporation in a research note on Sunday, November 5th. Finally, Royal Bank Of Canada set a $50.00 target price on Sysco Corporation and gave the stock a “hold” rating in a research note on Friday, August 11th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Sysco Corporation presently has an average rating of “Hold” and a consensus target price of $56.42.

About Sysco Corporation

Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.

Institutional Ownership by Quarter for Sysco Corporation (NYSE:SYY)

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