HM Payson & Co. reduced its stake in Sysco Corporation (NYSE:SYY) by 10.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,503 shares of the company’s stock after selling 3,786 shares during the period. HM Payson & Co.’s holdings in Sysco Corporation were worth $1,807,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the company. Sei Investments Co. grew its stake in shares of Sysco Corporation by 17.1% in the 3rd quarter. Sei Investments Co. now owns 279,131 shares of the company’s stock valued at $15,059,000 after purchasing an additional 40,736 shares during the period. BNP Paribas Arbitrage SA grew its position in Sysco Corporation by 4.4% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 328,797 shares of the company’s stock worth $17,739,000 after acquiring an additional 13,960 shares during the last quarter. Courier Capital LLC grew its position in Sysco Corporation by 15.0% during the 3rd quarter. Courier Capital LLC now owns 7,671 shares of the company’s stock worth $414,000 after acquiring an additional 1,000 shares during the last quarter. FDx Advisors Inc. grew its position in Sysco Corporation by 27.6% during the 3rd quarter. FDx Advisors Inc. now owns 35,396 shares of the company’s stock worth $1,910,000 after acquiring an additional 7,652 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. grew its position in Sysco Corporation by 5.8% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 65,999 shares of the company’s stock worth $3,561,000 after acquiring an additional 3,645 shares during the last quarter. Institutional investors own 80.07% of the company’s stock.
Shares of Sysco Corporation (NYSE:SYY) traded up $0.17 on Friday, reaching $54.19. The company’s stock had a trading volume of 1,717,800 shares, compared to its average volume of 2,435,198. The company has a market cap of $28,236.03, a price-to-earnings ratio of 21.25, a price-to-earnings-growth ratio of 2.51 and a beta of 0.53. The company has a debt-to-equity ratio of 3.77, a current ratio of 1.40 and a quick ratio of 0.83. Sysco Corporation has a 52-week low of $48.85 and a 52-week high of $57.23.
Sysco Corporation (NYSE:SYY) last announced its quarterly earnings data on Monday, November 6th. The company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.02. The firm had revenue of $14.65 billion for the quarter, compared to analyst estimates of $14.43 billion. Sysco Corporation had a return on equity of 58.47% and a net margin of 2.12%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $0.67 EPS. equities analysts forecast that Sysco Corporation will post 2.77 earnings per share for the current fiscal year.
In other news, CEO William J. Delaney III sold 30,000 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 406,725 shares of the company’s stock, valued at approximately $20,869,059.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Wayne Shurts sold 7,800 shares of the stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $54.86, for a total value of $427,908.00. Following the completion of the transaction, the executive vice president now directly owns 58,776 shares in the company, valued at approximately $3,224,451.36. The disclosure for this sale can be found here. Insiders sold a total of 2,125,781 shares of company stock worth $114,211,628 over the last quarter. Corporate insiders own 9.60% of the company’s stock.
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SYY has been the topic of a number of research analyst reports. Royal Bank Of Canada set a $50.00 price target on Sysco Corporation and gave the stock a “hold” rating in a research report on Friday, August 11th. Zacks Investment Research upgraded Sysco Corporation from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Friday, July 21st. Wells Fargo & Company restated a “buy” rating on shares of Sysco Corporation in a research report on Monday, August 14th. Pivotal Research restated a “hold” rating and set a $53.00 price target on shares of Sysco Corporation in a research report on Sunday, November 5th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Sysco Corporation in a research report on Tuesday, September 12th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $56.42.
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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