McIlrath & Eck LLC Lowers Stock Position in SYSCO Co. (NYSE:SYY)

McIlrath & Eck LLC lessened its holdings in SYSCO Co. (NYSE:SYY) by 16.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,225 shares of the company’s stock after selling 248 shares during the quarter. McIlrath & Eck LLC’s holdings in SYSCO were worth $97,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in SYY. Bath Savings Trust Co boosted its stake in shares of SYSCO by 0.5% during the 2nd quarter. Bath Savings Trust Co now owns 35,920 shares of the company’s stock worth $2,540,000 after acquiring an additional 186 shares in the last quarter. Woodstock Corp boosted its stake in shares of SYSCO by 0.5% during the 2nd quarter. Woodstock Corp now owns 85,741 shares of the company’s stock worth $6,064,000 after acquiring an additional 400 shares in the last quarter. Rockland Trust Co. purchased a new stake in shares of SYSCO during the 2nd quarter worth approximately $240,000. DNB Asset Management AS boosted its stake in shares of SYSCO by 20.5% during the 2nd quarter. DNB Asset Management AS now owns 159,909 shares of the company’s stock worth $11,309,000 after acquiring an additional 27,210 shares in the last quarter. Finally, First National Bank of Mount Dora Trust Investment Services boosted its stake in shares of SYSCO by 23.1% during the 2nd quarter. First National Bank of Mount Dora Trust Investment Services now owns 23,920 shares of the company’s stock worth $1,691,000 after acquiring an additional 4,496 shares in the last quarter. 78.62% of the stock is currently owned by institutional investors.

Shares of SYSCO stock traded down $0.50 during trading on Friday, hitting $80.40. 1,736,330 shares of the company were exchanged, compared to its average volume of 2,745,985. The company has a quick ratio of 0.81, a current ratio of 1.39 and a debt-to-equity ratio of 3.74. SYSCO Co. has a fifty-two week low of $59.44 and a fifty-two week high of $81.60. The stock has a market capitalization of $41.00 billion, a price-to-earnings ratio of 22.65, a P/E/G ratio of 2.24 and a beta of 0.48. The firm has a 50 day moving average price of $79.14 and a 200 day moving average price of $74.07.

SYSCO (NYSE:SYY) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.01. SYSCO had a return on equity of 79.60% and a net margin of 2.82%. The firm had revenue of $15.30 billion during the quarter, compared to the consensus estimate of $15.53 billion. During the same period in the previous year, the firm posted $0.91 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. Analysts predict that SYSCO Co. will post 3.83 earnings per share for the current year.

Several equities research analysts have recently commented on SYY shares. Wells Fargo & Co reissued a “buy” rating on shares of SYSCO in a research note on Monday, August 12th. Barclays boosted their price target on SYSCO from $70.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. boosted their price target on SYSCO from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Credit Suisse Group boosted their price target on SYSCO from $79.00 to $89.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Finally, BMO Capital Markets boosted their price target on SYSCO to $88.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $77.40.

In other SYSCO news, SVP Brian R. Todd sold 14,706 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $78.99, for a total value of $1,161,626.94. Following the completion of 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 at this hyperlink. Also, CEO Thomas Bene sold 39,384 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $78.12, for a total value of $3,076,678.08. Following the completion of the transaction, the chief executive officer now owns 132,929 shares of the company’s stock, valued at $10,384,413.48. The disclosure for this sale can be found here. Insiders have sold a total of 182,277 shares of company stock valued at $14,357,991 over the last 90 days. Insiders own 5.24% of the company’s stock.

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.

Recommended Story: What is a balanced fund?

Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SYSCO Co. (NYSE:SYY).

Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

Receive News & Ratings for SYSCO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SYSCO and related companies with MarketBeat.com's FREE daily email newsletter.