Tower Bridge Advisors Invests $244,000 in Sysco Corporation (SYY)

Tower Bridge Advisors purchased a new stake in Sysco Corporation (NYSE:SYY) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 4,525 shares of the company’s stock, valued at approximately $244,000.

Other large investors have also made changes to their positions in the company. First Personal Financial Services lifted its holdings in shares of Sysco Corporation by 293.2% in the 3rd quarter. First Personal Financial Services now owns 1,962 shares of the company’s stock valued at $106,000 after acquiring an additional 1,463 shares during the last quarter. Arcadia Investment Management Corp MI lifted its holdings in shares of Sysco Corporation by 10.7% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 2,336 shares of the company’s stock valued at $118,000 after acquiring an additional 225 shares during the last quarter. Acrospire Investment Management LLC lifted its holdings in shares of Sysco Corporation by 84.6% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,400 shares of the company’s stock valued at $121,000 after acquiring an additional 1,100 shares during the last quarter. Manchester Capital Management LLC raised its position in Sysco Corporation by 13.4% in the 2nd quarter. Manchester Capital Management LLC now owns 2,538 shares of the company’s stock worth $128,000 after purchasing an additional 300 shares during the period. Finally, Kistler Tiffany Companies LLC raised its position in Sysco Corporation by 0.4% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,915 shares of the company’s stock worth $147,000 after purchasing an additional 12 shares during the period. 80.30% of the stock is owned by hedge funds and other institutional investors.

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Sysco Corporation (NYSE SYY) opened at $54.02 on Tuesday. The company has a market cap of $28,150.00, a P/E ratio of 21.25, a PEG ratio of 2.51 and a beta of 0.53. Sysco Corporation has a 1 year low of $48.85 and a 1 year high of $57.23. The company has a debt-to-equity ratio of 3.77, a quick ratio of 0.88 and a current ratio of 1.40.

Sysco Corporation (NYSE:SYY) last issued its earnings results on Monday, November 6th. The company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.02. The business had revenue of $14.65 billion for the quarter, compared to analyst estimates of $14.43 billion. Sysco Corporation had a net margin of 2.12% and a return on equity of 58.47%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company posted $0.67 earnings per share. research analysts anticipate that Sysco Corporation will post 2.77 EPS for the current year.

In related news, EVP Wayne Shurts sold 7,800 shares of Sysco Corporation stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $54.86, for a total transaction of $427,908.00. Following the transaction, the executive vice president now directly owns 58,776 shares of the company’s stock, valued at $3,224,451.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William J. Delaney III sold 30,000 shares of Sysco Corporation stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $51.31, for a total transaction of $1,539,300.00. Following the transaction, the chief executive officer now directly owns 406,725 shares in the company, valued at $20,869,059.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,125,781 shares of company stock worth $114,211,628. Corporate insiders own 9.60% of the company’s stock.

A number of analysts recently weighed in on SYY shares. Pivotal Research reissued a “hold” rating and issued a $53.00 price objective on shares of Sysco Corporation in a research report on Sunday, November 5th. Zacks Investment Research raised shares of Sysco Corporation from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Friday, July 21st. BMO Capital Markets reissued an “outperform” rating on shares of Sysco Corporation in a research report on Tuesday, September 12th. Wells Fargo & Company reissued a “buy” rating on shares of Sysco Corporation in a research report on Monday, July 17th. Finally, Royal Bank Of Canada set a $50.00 price objective on shares of Sysco Corporation and gave the stock a “hold” rating in a research report on Friday, August 11th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Sysco Corporation has an average rating of “Hold” and an average price target of $56.42.

About Sysco Corporation

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.

Institutional Ownership by Quarter for Sysco Corporation (NYSE:SYY)

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