Steward Partners Investment Advisory LLC raised its holdings in shares of SYSCO Co. (NYSE:SYY) by 16.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,658 shares of the company’s stock after acquiring an additional 2,614 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in SYSCO were worth $1,367,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. MUFG Securities EMEA plc purchased a new stake in SYSCO during the 2nd quarter valued at approximately $14,719,000. Homrich & Berg raised its stake in SYSCO by 12.7% during the 2nd quarter. Homrich & Berg now owns 13,659 shares of the company’s stock valued at $933,000 after acquiring an additional 1,538 shares during the last quarter. Spears Abacus Advisors LLC purchased a new stake in SYSCO during the 2nd quarter valued at approximately $212,000. Golub Group LLC raised its stake in SYSCO by 4.6% during the 2nd quarter. Golub Group LLC now owns 34,278 shares of the company’s stock valued at $2,341,000 after acquiring an additional 1,512 shares during the last quarter. Finally, NumerixS Investment Technologies Inc purchased a new stake in SYSCO during the 2nd quarter valued at approximately $1,008,000. 80.17% of the stock is owned by institutional investors and hedge funds.
NYSE SYY opened at $69.80 on Friday. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.74 and a current ratio of 1.21. SYSCO Co. has a 12-month low of $52.30 and a 12-month high of $75.98. The company has a market cap of $36.34 billion, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 1.89 and a beta of 0.56.
In other SYSCO news, Director Joshua D. Frank sold 1,013,666 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $75.09, for a total transaction of $76,116,179.94. Following the transaction, the director now owns 4,005 shares in the company, valued at approximately $300,735.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard G. Tilghman sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $73.82, for a total value of $369,100.00. Following the transaction, the director now owns 66,137 shares in the company, valued at approximately $4,882,233.34. The disclosure for this sale can be found here. Insiders have sold a total of 3,969,811 shares of company stock worth $297,370,093 in the last quarter. 7.88% of the stock is currently owned by insiders.
SYY has been the subject of several analyst reports. Wells Fargo & Co upped their price objective on SYSCO from $71.00 to $80.00 and gave the company a “$70.32” rating in a research note on Wednesday, July 18th. They noted that the move was a valuation call. Argus upped their price objective on SYSCO from $67.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, August 16th. ValuEngine raised SYSCO from a “hold” rating to a “buy” rating in a research note on Monday, August 13th. Morgan Stanley upped their price objective on SYSCO from $61.00 to $67.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 17th. Finally, Pivotal Research downgraded SYSCO from a “hold” rating to a “sell” rating and set a $58.00 price objective for the company. in a research note on Friday, August 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $73.15.
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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