BRYN MAWR TRUST Co Increases Holdings in SYSCO Co. (NYSE:SYY)

BRYN MAWR TRUST Co raised its stake in shares of SYSCO Co. (NYSE:SYY) by 1.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 264,537 shares of the company’s stock after buying an additional 3,274 shares during the period. SYSCO comprises approximately 1.1% of BRYN MAWR TRUST Co’s holdings, making the stock its 21st largest position. BRYN MAWR TRUST Co owned approximately 0.05% of SYSCO worth $21,004,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Krane Funds Advisors LLC bought a new position in SYSCO in the 2nd quarter worth $25,000. SRS Capital Advisors Inc. bought a new position in shares of SYSCO during the 2nd quarter valued at about $28,000. Coastal Capital Group Inc. bought a new position in shares of SYSCO during the 2nd quarter valued at about $29,000. Neo Ivy Capital Management bought a new position in shares of SYSCO during the 2nd quarter valued at about $32,000. Finally, Garrett Wealth Advisory Group LLC bought a new position in shares of SYSCO during the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 78.43% of the company’s stock.

SYSCO stock opened at $78.95 on Friday. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.33 and a quick ratio of 0.81. SYSCO Co. has a 1-year low of $59.44 and a 1-year high of $79.74. The firm has a market capitalization of $40.45 billion, a P/E ratio of 22.24, a price-to-earnings-growth ratio of 2.17 and a beta of 0.48. The company’s 50-day moving average is $78.23 and its 200 day moving average is $73.23.

SYSCO (NYSE:SYY) last posted its quarterly earnings data on Monday, August 12th. The company reported $1.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.03. SYSCO had a net margin of 2.79% and a return on equity of 76.80%. The company had revenue of $15.47 billion for the quarter, compared to analyst estimates of $15.65 billion. During the same period in the prior year, the company posted $0.94 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. Research analysts anticipate that SYSCO Co. will post 3.81 earnings per share for the current fiscal year.

Several research analysts have commented on SYY shares. Barclays increased their price objective on shares of SYSCO from $70.00 to $71.00 and gave the company an “equal weight” rating in a report on Tuesday, August 13th. Wells Fargo & Co reissued a “buy” rating on shares of SYSCO in a report on Monday, August 12th. Credit Suisse Group increased their price objective on shares of SYSCO from $76.00 to $79.00 and gave the company an “outperform” rating in a report on Tuesday, August 13th. Bank of America increased their price objective on shares of SYSCO from $76.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of SYSCO from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $74.52.

In other SYSCO news, SVP Brian R. Todd sold 14,706 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $78.99, for a total value of $1,161,626.94. Following the transaction, the senior vice president now directly owns 30,273 shares in the company, valued at approximately $2,391,264.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas Bene sold 39,384 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $78.12, for a total transaction of $3,076,678.08. Following the completion of the transaction, the chief executive officer now owns 132,929 shares in the company, valued at $10,384,413.48. The disclosure for this sale can be found here. Insiders sold a total of 117,893 shares of company stock worth $9,180,771 over the last three months. 5.24% of the stock is currently owned by corporate insiders.

SYSCO Profile

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.

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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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