Russell Investments Group Ltd. increased its stake in shares of SYSCO Co. (NYSE:SYY) by 17.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 424,221 shares of the company’s stock after purchasing an additional 62,758 shares during the period. Russell Investments Group Ltd.’s holdings in SYSCO were worth $30,979,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in SYY. Blue Chip Partners Inc. acquired a new stake in shares of SYSCO during the second quarter worth $104,000. Quad Cities Investment Group LLC acquired a new position in SYSCO in the second quarter valued at about $111,000. Flagship Harbor Advisors LLC acquired a new position in SYSCO in the second quarter valued at about $121,000. Fort L.P. acquired a new position in SYSCO in the second quarter valued at about $123,000. Finally, Daiwa SB Investments Ltd. acquired a new position in SYSCO in the third quarter valued at about $132,000. 80.16% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on SYY shares. Argus boosted their target price on SYSCO from $67.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, August 16th. Jefferies Financial Group set a $68.00 target price on SYSCO and gave the company a “hold” rating in a research note on Monday, August 13th. ValuEngine cut SYSCO from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Zacks Investment Research cut SYSCO from a “hold” rating to a “sell” rating in a research note on Monday, July 23rd. Finally, Wells Fargo & Co boosted their target price 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. SYSCO currently has an average rating of “Hold” and an average target price of $73.62.
NYSE:SYY opened at $71.29 on Friday. The stock has a market capitalization of $37.14 billion, a price-to-earnings ratio of 23.70, a price-to-earnings-growth ratio of 1.93 and a beta of 0.56. SYSCO Co. has a 1 year low of $52.30 and a 1 year high of $75.98. The company has a quick ratio of 0.74, a current ratio of 1.21 and a debt-to-equity ratio of 3.01.
SYSCO (NYSE:SYY) last issued its quarterly earnings results on Monday, August 13th. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.01. The company had revenue of $15.32 billion for the quarter, compared to analyst estimates of $15.30 billion. SYSCO had a return on equity of 68.15% and a net margin of 2.44%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 earnings per share. As a group, equities research analysts anticipate that SYSCO Co. will post 3.48 earnings per share for the current year.
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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