Alps Advisors Inc. Takes Position in SYSCO Co. (NYSE:SYY)

Alps Advisors Inc. acquired a new stake in shares of SYSCO Co. (NYSE:SYY) in the third quarter, HoldingsChannel.com reports. The fund acquired 4,657 shares of the company’s stock, valued at approximately $370,000.

Other large investors also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC purchased a new stake in shares of SYSCO during the second quarter valued at approximately $25,000. SRS Capital Advisors Inc. purchased a new stake in SYSCO in the second quarter worth $28,000. Coastal Capital Group Inc. purchased a new stake in SYSCO in the second quarter worth $29,000. Usca Ria LLC purchased a new stake in SYSCO in the third quarter worth $35,000. Finally, Neo Ivy Capital Management purchased a new stake in SYSCO in the second quarter worth $32,000. 78.71% of the stock is owned by hedge funds and other institutional investors.

SYY opened at $81.22 on Thursday. The stock has a fifty day simple moving average of $79.31 and a two-hundred day simple moving average of $74.27. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 3.74. The company has a market cap of $41.02 billion, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 2.25 and a beta of 0.48. SYSCO Co. has a 12-month low of $59.44 and a 12-month high of $81.60.

SYSCO (NYSE:SYY) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. The business had revenue of $15.30 billion during the quarter, compared to the consensus estimate of $15.53 billion. SYSCO had a return on equity of 79.60% and a net margin of 2.82%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.91 earnings per share. On average, analysts predict that SYSCO Co. will post 3.82 EPS for the current year.

A number of analysts recently commented on SYY shares. Bank of America raised their price target on SYSCO from $76.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. raised 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. BMO Capital Markets raised their price target on SYSCO to $88.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Loop Capital raised their price target on SYSCO to $86.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Barclays raised 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. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $77.70.

In other SYSCO news, EVP Greg D. Bertrand sold 25,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $81.06, for a total value of $2,026,500.00. Following the completion of the transaction, the executive vice president now owns 54,879 shares in the company, valued at $4,448,491.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Brian R. Todd sold 14,706 shares of the 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 owns 30,273 shares of the company’s stock, valued at approximately $2,391,264.27. The disclosure for this sale can be found here. In the last quarter, insiders sold 182,277 shares of company stock valued at $14,357,991. 5.24% of the stock is owned by corporate insiders.

SYSCO Company 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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