Liberty Capital Management Inc. boosted its holdings in Sysco Corporation (NYSE:SYY) by 10.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,305 shares of the company’s stock after purchasing an additional 975 shares during the quarter. Liberty Capital Management Inc.’s holdings in Sysco Corporation were worth $566,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the business. Kistler Tiffany Companies LLC boosted its holdings in Sysco Corporation by 0.4% in the second quarter. Kistler Tiffany Companies LLC now owns 2,915 shares of the company’s stock worth $147,000 after purchasing an additional 12 shares during the period. Schnieders Capital Management LLC boosted its holdings in Sysco Corporation by 0.4% in the second quarter. Schnieders Capital Management LLC now owns 4,070 shares of the company’s stock worth $205,000 after purchasing an additional 18 shares during the period. Blue Chip Partners Inc. boosted its holdings in Sysco Corporation by 0.6% in the second quarter. Blue Chip Partners Inc. now owns 2,967 shares of the company’s stock worth $149,000 after purchasing an additional 18 shares during the period. Northwest Quadrant Wealth Management LLC boosted its holdings in Sysco Corporation by 0.6% in the second quarter. Northwest Quadrant Wealth Management LLC now owns 5,169 shares of the company’s stock worth $269,000 after purchasing an additional 29 shares during the period. Finally, Keel Point LLC boosted its holdings in Sysco Corporation by 0.8% in the second quarter. Keel Point LLC now owns 5,782 shares of the company’s stock worth $291,000 after purchasing an additional 47 shares during the period. 80.14% of the stock is owned by hedge funds and other institutional investors.
Shares of Sysco Corporation (NYSE SYY) traded down 0.11% during trading on Friday, hitting $54.80. 1,773,940 shares of the stock traded hands. The company has a market cap of $28.93 billion, a price-to-earnings ratio of 26.35 and a beta of 0.52. Sysco Corporation has a 52 week low of $47.59 and a 52 week high of $57.07. The firm’s 50-day moving average price is $54.10 and its 200-day moving average price is $53.00.
Sysco Corporation (NYSE:SYY) last announced its quarterly earnings results on Monday, August 14th. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The firm had revenue of $14.40 billion for the quarter, compared to analysts’ expectations of $14.35 billion. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 earnings per share. On average, equities research analysts anticipate that Sysco Corporation will post $2.76 earnings per share for the current year.
In other news, insider Wayne Shurts sold 15,600 shares of the stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $51.76, for a total transaction of $807,456.00. Following the sale, the insider now owns 58,776 shares in the company, valued at $3,042,245.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William J. Delaney III sold 30,000 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $51.31, for a total value of $1,539,300.00. Following the sale, the chief executive officer now owns 406,725 shares in the company, valued at approximately $20,869,059.75. The disclosure for this sale can be found here. Insiders have sold 2,125,781 shares of company stock worth $114,211,628 in the last 90 days. Company insiders own 9.60% of the company’s stock.
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A number of equities analysts have commented on SYY shares. Jefferies Group LLC reaffirmed a “hold” rating and issued a $51.00 price objective on shares of Sysco Corporation in a report on Friday, August 4th. Royal Bank Of Canada set a $50.00 price objective on shares of Sysco Corporation and gave the stock a “hold” rating in a report on Friday, August 11th. Zacks Investment Research downgraded shares of Sysco Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Pivotal Research set a $53.00 price target on shares of Sysco Corporation and gave the company a “hold” rating in a report on Sunday, August 13th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Sysco Corporation in a report on Tuesday, September 12th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $56.42.
Sysco Corporation 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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