SYSCO Co. (NYSE:SYY) Holdings Boosted by Taylor Hoffman Wealth Management

Taylor Hoffman Wealth Management boosted its holdings in SYSCO Co. (NYSE:SYY) by 6.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,305 shares of the company’s stock after acquiring an additional 972 shares during the period. Taylor Hoffman Wealth Management’s holdings in SYSCO were worth $1,215,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SYY. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of SYSCO by 0.3% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 703,653 shares of the company’s stock valued at $49,565,000 after buying an additional 1,921 shares during the last quarter. Buckingham Asset Management LLC grew its position in SYSCO by 12.2% in the second quarter. Buckingham Asset Management LLC now owns 28,476 shares of the company’s stock worth $2,014,000 after buying an additional 3,105 shares during the last quarter. Prudential Financial Inc. grew its position in SYSCO by 7.0% in the second quarter. Prudential Financial Inc. now owns 531,978 shares of the company’s stock worth $37,621,000 after buying an additional 34,730 shares during the last quarter. Krane Funds Advisors LLC acquired a new position in SYSCO in the second quarter worth approximately $25,000. Finally, Brightworth grew its position in SYSCO by 3.0% in the second quarter. Brightworth now owns 77,258 shares of the company’s stock worth $5,464,000 after buying an additional 2,267 shares during the last quarter. 78.62% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have issued reports on the stock. Barclays lifted their price target on shares of SYSCO from $70.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. lifted their price objective on shares of SYSCO from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Consumer Edge assumed coverage on shares of SYSCO in a research report on Wednesday, July 17th. They set an “underweight” rating and a $71.75 price objective on the stock. Credit Suisse Group lifted their price objective on shares of SYSCO from $79.00 to $89.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Finally, BMO Capital Markets lifted their price objective on shares of SYSCO to $88.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $77.40.

Shares of SYY stock traded down $0.50 on Friday, hitting $80.40. The company’s stock had a trading volume of 1,736,330 shares, compared to its average volume of 2,745,985. The company has a debt-to-equity ratio of 3.74, a current ratio of 1.39 and a quick ratio of 0.81. SYSCO Co. has a fifty-two week low of $59.44 and a fifty-two week high of $81.60. The firm’s fifty day moving average price is $79.14 and its 200-day moving average price is $74.07. The stock has a market capitalization of $41.00 billion, a price-to-earnings ratio of 22.65, a P/E/G ratio of 2.24 and a beta of 0.48.

SYSCO (NYSE:SYY) last released its quarterly earnings data on Monday, November 4th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.01. The business had revenue of $15.30 billion during the quarter, compared to analyst estimates of $15.53 billion. SYSCO had a net margin of 2.82% and a return on equity of 79.60%. SYSCO’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 EPS. Analysts predict that SYSCO Co. will post 3.83 EPS for the current fiscal year.

In other SYSCO news, SVP Brian R. Todd sold 14,706 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $78.99, for a total transaction of $1,161,626.94. Following the completion of the transaction, the senior vice president now owns 30,273 shares of the company’s stock, valued at approximately $2,391,264.27. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Greg D. Bertrand sold 25,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $81.06, for a total transaction of $2,026,500.00. Following the transaction, the executive vice president now directly owns 54,879 shares of the company’s stock, valued at approximately $4,448,491.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 182,277 shares of company stock valued at $14,357,991. Company insiders own 5.24% of the company’s stock.

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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