BNP Paribas Arbitrage SA lifted its holdings in Sysco Corporation (NYSE:SYY) by 4.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 328,797 shares of the company’s stock after acquiring an additional 13,960 shares during the period. BNP Paribas Arbitrage SA owned approximately 0.06% of Sysco Corporation worth $17,739,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Exane Derivatives raised its position in shares of Sysco Corporation by 137.8% in the 3rd quarter. Exane Derivatives now owns 48,699 shares of the company’s stock worth $2,627,000 after acquiring an additional 28,217 shares in the last quarter. Citizens Financial Group Inc. RI raised its position in shares of Sysco Corporation by 1,233.5% in the 1st quarter. Citizens Financial Group Inc. RI now owns 157,557 shares of the company’s stock worth $8,181,000 after acquiring an additional 145,742 shares in the last quarter. Sei Investments Co. raised its position in shares of Sysco Corporation by 29.3% in the 2nd quarter. Sei Investments Co. now owns 238,395 shares of the company’s stock worth $11,998,000 after acquiring an additional 54,078 shares in the last quarter. BARING ASSET MANAGEMENT Ltd raised its position in shares of Sysco Corporation by 15.5% in the 2nd quarter. BARING ASSET MANAGEMENT Ltd now owns 28,118 shares of the company’s stock worth $1,415,000 after acquiring an additional 3,773 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Sysco Corporation by 20.3% in the 2nd quarter. Victory Capital Management Inc. now owns 2,917,645 shares of the company’s stock worth $146,845,000 after acquiring an additional 491,398 shares in the last quarter. 80.30% of the stock is owned by hedge funds and other institutional investors.
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In other Sysco Corporation news, CEO William J. Delaney III sold 30,000 shares of Sysco Corporation stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $54.71, for a total transaction of $1,641,300.00. Following the completion of the transaction, the chief executive officer now owns 406,725 shares in the company, valued at approximately $22,251,924.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Wayne Shurts sold 7,800 shares of Sysco Corporation stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $54.86, for a total value of $427,908.00. Following the transaction, the executive vice president now owns 58,776 shares of the company’s stock, valued at approximately $3,224,451.36. The disclosure for this sale can be found here. Insiders have sold a total of 2,125,781 shares of company stock valued at $114,211,628 in the last quarter. Company insiders own 9.60% of the company’s stock.
Several research firms have recently weighed in on SYY. Wells Fargo & Company reissued a “buy” rating on shares of Sysco Corporation in a research report on Monday, August 14th. Zacks Investment Research raised Sysco Corporation from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Tuesday, October 10th. BMO Capital Markets set a $60.00 price objective on Sysco Corporation and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Pivotal Research set a $53.00 target price on Sysco Corporation and gave the company a “hold” rating in a research note on Sunday, August 13th. Finally, Royal Bank Of Canada set a $50.00 target price on Sysco Corporation and gave the company a “hold” rating in a research note on Friday, August 11th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $56.42.
Sysco Corporation (NYSE SYY) traded up $0.17 during mid-day trading on Monday, reaching $54.19. The company’s stock had a trading volume of 1,717,800 shares, compared to its average volume of 2,934,361. The firm has a market cap of $28,236.04, a P/E 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 current ratio of 1.40 and a quick ratio of 0.88. Sysco Corporation has a fifty-two week low of $48.85 and a fifty-two week high of $57.23.
Sysco Corporation (NYSE:SYY) last released its quarterly earnings results on Monday, November 6th. The company reported $0.74 earnings per share (EPS) 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 the consensus estimate of $14.43 billion. Sysco Corporation had a return on equity of 58.47% and a net margin of 2.12%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.67 EPS. equities research analysts expect that Sysco Corporation will post 2.77 earnings per share for the current year.
Sysco Corporation Company Profile
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.
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