The Manufacturers Life Insurance Company boosted its position in shares of SYSCO Co. (NYSE:SYY) by 8.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 893,154 shares of the company’s stock after buying an additional 69,672 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in SYSCO were worth $54,241,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Exane Derivatives boosted its stake in shares of SYSCO by 137.8% in the 3rd quarter. Exane Derivatives now owns 48,699 shares of the company’s stock valued at $2,627,000 after purchasing an additional 28,217 shares in the last quarter. FDx Advisors Inc. boosted its stake in shares of SYSCO by 27.6% in the 3rd quarter. FDx Advisors Inc. now owns 35,396 shares of the company’s stock valued at $1,910,000 after purchasing an additional 7,652 shares in the last quarter. Vident Investment Advisory LLC acquired a new stake in shares of SYSCO in the 3rd quarter valued at approximately $393,000. Chicago Partners Investment Group LLC boosted its stake in shares of SYSCO by 637.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 5,900 shares of the company’s stock valued at $318,000 after purchasing an additional 5,100 shares in the last quarter. Finally, Quantum Capital Management bought a new position in SYSCO in the 3rd quarter valued at approximately $863,000. Institutional investors own 77.72% of the company’s stock.
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 fifty-two week low of $48.85 and a fifty-two week high of $64.27. The stock has a market cap of $31,315.13, a P/E ratio of 22.81, a price-to-earnings-growth ratio of 2.01 and a beta of 0.56.
SYSCO (NYSE:SYY) last released its quarterly earnings results on Monday, February 5th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.01. SYSCO had a net margin of 2.10% and a return on equity of 61.02%. The firm had revenue of $14.41 billion during the quarter, compared to analyst estimates of $14.15 billion. During the same quarter last year, the business earned $0.58 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. sell-side analysts forecast that SYSCO Co. will post 2.95 earnings per share for the current year.
In other SYSCO news, SVP William W. Goetz sold 11,323 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 35,825 shares in the company, valued at approximately $2,221,150. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Wayne Shurts sold 15,600 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $56.66, for a total transaction of $883,896.00. Following the transaction, the insider now owns 56,985 shares of the company’s stock, valued at approximately $3,228,770.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 144,695 shares of company stock valued at $8,759,223. Company insiders own 9.60% of the company’s stock.
A number of research analysts recently issued reports on the stock. Morgan Stanley upgraded shares of SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 price objective for the company in a report on Tuesday, January 16th. Zacks Investment Research lowered shares of SYSCO from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Jefferies Group set a $67.00 price objective on shares of SYSCO and gave the company a “hold” rating in a report on Monday, February 5th. BMO Capital Markets set a $74.00 price objective on shares of SYSCO and gave the company a “buy” rating in a report on Monday, February 5th. Finally, Loop Capital raised their price objective on shares of SYSCO from $68.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $65.20.
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SYSCO 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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