First Trust Advisors LP boosted its position in SYSCO Co. (NYSE:SYY) by 27.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 671,725 shares of the company’s stock after purchasing an additional 145,009 shares during the period. First Trust Advisors LP’s holdings in SYSCO were worth $40,794,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of SYY. Archford Capital Strategies LLC lifted its stake in SYSCO by 13,033.9% in the second quarter. Archford Capital Strategies LLC now owns 7,749 shares of the company’s stock valued at $947,000 after purchasing an additional 7,690 shares during the last quarter. Toronto Dominion Bank lifted its stake in SYSCO by 24.2% in the second quarter. Toronto Dominion Bank now owns 167,531 shares of the company’s stock valued at $8,430,000 after purchasing an additional 32,697 shares during the last quarter. Griffin Asset Management Inc. purchased a new position in SYSCO in the second quarter valued at approximately $2,912,000. Curbstone Financial Management Corp lifted its stake in SYSCO by 104.1% in the third quarter. Curbstone Financial Management Corp now owns 34,960 shares of the company’s stock valued at $1,886,000 after purchasing an additional 17,830 shares during the last quarter. Finally, Eqis Capital Management Inc. lifted its stake in SYSCO by 10.5% in the third quarter. Eqis Capital Management Inc. now owns 16,424 shares of the company’s stock valued at $886,000 after purchasing an additional 1,561 shares during the last quarter. Institutional investors and hedge funds own 79.35% of the company’s stock.
Several equities analysts recently commented on the company. Bank of America upped their price objective on SYSCO from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Loop Capital dropped their price objective on SYSCO from $72.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. Pivotal Research dropped their price objective on SYSCO from $68.00 to $61.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $61.00 price objective on shares of SYSCO in a research note on Tuesday, February 6th. Finally, BMO Capital Markets set a $74.00 price objective on SYSCO and gave the company a “buy” rating in a research note on Monday, February 5th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. SYSCO currently has an average rating of “Buy” and an average target price of $65.20.
In other SYSCO news, SVP William W. Goetz sold 11,323 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $62.00, for a total transaction of $702,026.00. Following the sale, the senior vice president now owns 35,825 shares of the company’s stock, valued at approximately $2,221,150. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Wayne Shurts sold 15,600 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $56.66, for a total transaction of $883,896.00. Following the sale, the insider now directly owns 56,985 shares in the company, valued at approximately $3,228,770.10. The disclosure for this sale can be found here. Insiders have sold a total of 144,695 shares of company stock worth $8,759,223 in the last three months. Insiders own 9.60% of the company’s stock.
Shares of SYSCO Co. (NYSE:SYY) opened at $60.00 on Monday. The company has a current ratio of 1.38, a quick ratio of 0.85 and a debt-to-equity ratio of 3.66. SYSCO Co. has a 1-year low of $48.85 and a 1-year high of $64.27. The stock has a market cap of $31,260.00, a price-to-earnings ratio of 26.91, a price-to-earnings-growth ratio of 2.01 and a beta of 0.56.
SYSCO (NYSE:SYY) last issued its earnings results on Monday, February 5th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. SYSCO had a net margin of 2.10% and a return on equity of 61.02%. The business had revenue of $14.41 billion for the quarter, compared to analysts’ expectations of $14.15 billion. During the same quarter in the previous year, the firm posted $0.58 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. equities research analysts forecast that SYSCO Co. will post 2.95 earnings per share for the current fiscal year.
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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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