SYSCO Co. (SYY) Shares Sold by Strategy Asset Managers LLC

Strategy Asset Managers LLC lowered its holdings in SYSCO Co. (NYSE:SYY) by 2.2% in the third quarter, HoldingsChannel reports. The firm owned 85,730 shares of the company’s stock after selling 1,897 shares during the period. SYSCO comprises approximately 1.3% of Strategy Asset Managers LLC’s investment portfolio, making the stock its 28th largest position. Strategy Asset Managers LLC’s holdings in SYSCO were worth $6,280,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Blue Chip Partners Inc. purchased a new stake in shares of SYSCO during the second quarter worth $104,000. Quad Cities Investment Group LLC purchased a new stake in shares of SYSCO during the second quarter worth $111,000. Flagship Harbor Advisors LLC purchased a new stake in shares of SYSCO during the second quarter worth $121,000. Daiwa SB Investments Ltd. purchased a new stake in shares of SYSCO during the third quarter worth $132,000. Finally, Fort L.P. purchased a new stake in shares of SYSCO during the second quarter worth $123,000. Institutional investors own 80.16% of the company’s stock.

SYSCO stock opened at $71.29 on Friday. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.74 and a current ratio of 1.21. The firm has a market cap of $37.12 billion, a price-to-earnings ratio of 23.68, a price-to-earnings-growth ratio of 1.93 and a beta of 0.56. SYSCO Co. has a one year low of $52.30 and a one year 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, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.01. The firm had revenue of $15.32 billion for the quarter, compared to the consensus estimate of $15.30 billion. SYSCO had a net margin of 2.44% and a return on equity of 68.15%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 earnings per share. On average, sell-side analysts predict that SYSCO Co. will post 3.48 EPS for the current fiscal year.

SYY has been the subject of several recent research reports. Argus increased their price objective on SYSCO from $67.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, August 16th. Morgan Stanley increased their price objective on SYSCO from $61.00 to $67.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 17th. Royal Bank of Canada set a $67.00 price objective on SYSCO and gave the stock a “hold” rating in a report on Friday. Pivotal Research reiterated a “sell” rating and set a $62.00 price objective on shares of SYSCO in a report on Friday. Finally, Buckingham Research initiated coverage on SYSCO in a report on Monday, October 22nd. They set a “buy” rating and a $82.00 price objective for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. SYSCO currently has a consensus rating of “Hold” and an average target price of $73.62.

In other SYSCO news, Director Joshua D. Frank sold 1,013,666 shares of the stock in a transaction on Monday, September 10th. The shares were sold at an average price of $75.09, for a total transaction of $76,116,179.94. Following 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard G. Tilghman sold 5,000 shares of the stock in a transaction on Monday, October 15th. The stock was sold at an average price of $68.62, for a total transaction of $343,100.00. Following the transaction, the director now directly owns 56,393 shares in the company, valued at $3,869,687.66. The disclosure for this sale can be found here. Insiders have sold 3,969,811 shares of company stock worth $297,370,093 over the last three months. Company insiders own 7.88% of the company’s stock.

SYSCO 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.

See Also: Return on Investment (ROI)

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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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