Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its holdings in shares of Sysco Corporation (NYSE:SYY) by 1.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 247,652 shares of the company’s stock after selling 3,292 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Sysco Corporation were worth $13,361,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in Sysco Corporation by 1.6% during the second quarter. Vanguard Group Inc. now owns 38,501,911 shares of the company’s stock valued at $1,937,801,000 after buying an additional 590,968 shares during the period. BlackRock Inc. raised its position in Sysco Corporation by 0.3% during the second quarter. BlackRock Inc. now owns 32,291,082 shares of the company’s stock valued at $1,625,211,000 after buying an additional 83,464 shares during the period. State Street Corp raised its position in Sysco Corporation by 1.0% during the second quarter. State Street Corp now owns 26,707,981 shares of the company’s stock valued at $1,344,209,000 after buying an additional 272,303 shares during the period. Capital World Investors raised its position in Sysco Corporation by 11.7% during the second quarter. Capital World Investors now owns 13,767,000 shares of the company’s stock valued at $692,893,000 after buying an additional 1,445,000 shares during the period. Finally, Ameriprise Financial Inc. raised its position in Sysco Corporation by 4.1% during the second quarter. Ameriprise Financial Inc. now owns 10,242,998 shares of the company’s stock valued at $515,484,000 after buying an additional 405,191 shares during the period. 80.10% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have commented on SYY shares. Jefferies Group LLC restated a “hold” rating and issued a $51.00 target price on shares of Sysco Corporation in a research note on Friday, August 4th. Wells Fargo & Company restated a “buy” rating on shares of Sysco Corporation in a research note on Monday, August 14th. Zacks Investment Research downgraded Sysco Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. 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. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Sysco Corporation presently has an average rating of “Hold” and a consensus target price of $56.42.
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Sysco Corporation (NYSE:SYY) traded down 0.40% during trading on Wednesday, hitting $55.40. The company had a trading volume of 696,818 shares. The stock has a 50-day moving average of $54.21 and a 200-day moving average of $53.06. The stock has a market capitalization of $29.24 billion, a PE ratio of 26.63 and a beta of 0.52. Sysco Corporation has a one year low of $47.43 and a one year high of $57.07.
Sysco Corporation (NYSE:SYY) last posted its quarterly earnings results on Monday, August 14th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The business had revenue of $14.40 billion during the quarter, compared to analysts’ expectations of $14.35 billion. During the same quarter last year, the company posted $0.64 earnings per share. Sysco Corporation’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities analysts anticipate that Sysco Corporation will post $2.76 EPS for the current year.
In other news, EVP Wayne Shurts sold 7,800 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $51.52, for a total transaction of $401,856.00. Following the completion of the sale, the executive vice president now owns 58,776 shares in the company, valued at $3,028,139.52. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William J. Delaney III sold 30,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $20,869,059.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,125,781 shares of company stock valued at $114,211,628. Corporate insiders own 9.60% of the company’s stock.
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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