SYSCO Co. (SYY) Position Lowered by TCW Group Inc.

TCW Group Inc. decreased its holdings in SYSCO Co. (NYSE:SYY) by 37.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,990 shares of the company’s stock after selling 11,527 shares during the quarter. TCW Group Inc.’s holdings in SYSCO were worth $1,391,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. MUFG Securities EMEA plc acquired a new position in shares of SYSCO in the second quarter worth about $14,719,000. Homrich & Berg lifted its stake in shares of SYSCO by 12.7% in the second quarter. Homrich & Berg now owns 13,659 shares of the company’s stock worth $933,000 after acquiring an additional 1,538 shares in the last quarter. Spears Abacus Advisors LLC bought a new stake in SYSCO in the second quarter valued at about $212,000. NumerixS Investment Technologies Inc bought a new stake in SYSCO in the second quarter valued at about $1,008,000. Finally, Golub Group LLC increased its holdings in SYSCO by 4.6% in the second quarter. Golub Group LLC now owns 34,278 shares of the company’s stock valued at $2,341,000 after buying an additional 1,512 shares during the last quarter. Institutional investors and hedge funds own 80.16% of the company’s stock.

Several analysts recently weighed in on SYY shares. Wells Fargo & Co boosted their price objective on SYSCO from $71.00 to $80.00 and gave the company a “$70.32” rating in a report on Wednesday, July 18th. They noted that the move was a valuation call. Argus boosted their price objective on SYSCO from $67.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, August 16th. ValuEngine raised SYSCO from a “hold” rating to a “buy” rating in a report on Monday, August 13th. Morgan Stanley boosted their price objective on SYSCO from $61.00 to $67.00 and gave the company an “equal weight” rating in a report on Tuesday, July 17th. Finally, Pivotal Research lowered SYSCO from a “hold” rating to a “sell” rating and set a $58.00 price objective for the company. in a report on Friday, August 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $73.62.

In other news, Director Joshua D. Frank sold 1,013,666 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $75.09, for a total transaction of $76,116,179.94. Following the completion of the transaction, the director now directly owns 4,005 shares of the company’s stock, valued at $300,735.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Brian R. Todd sold 9,147 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $73.82, for a total value of $675,231.54. Following the transaction, the senior vice president now directly owns 11,747 shares of the company’s stock, valued at $867,163.54. The disclosure for this sale can be found here. Insiders have sold 3,969,811 shares of company stock valued at $297,370,093 over the last ninety days. Corporate insiders own 7.88% of the company’s stock.

Shares of SYSCO stock opened at $71.29 on Friday. The company has a debt-to-equity ratio of 3.01, a current ratio of 1.21 and a quick ratio of 0.74. The stock has a market capitalization of $37.14 billion, a P/E ratio of 23.70, a PEG ratio of 1.93 and a beta of 0.56. SYSCO Co. has a fifty-two week low of $52.30 and a fifty-two week high of $75.98.

SYSCO (NYSE:SYY) last posted its earnings results on Monday, August 13th. The company reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.01. The company had revenue of $15.32 billion during 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 business’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 earnings per share. Equities research analysts anticipate that SYSCO Co. will post 3.48 earnings per share for the current fiscal year.

About SYSCO

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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