BTC Capital Management Inc. Sells 2,628 Shares of Sysco Corporation (SYY)
BTC Capital Management Inc. decreased its stake in shares of Sysco Corporation (NYSE:SYY) by 5.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 43,099 shares of the company’s stock after selling 2,628 shares during the period. BTC Capital Management Inc.’s holdings in Sysco Corporation were worth $2,320,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Exane Derivatives increased its stake in Sysco Corporation by 137.8% in the 3rd quarter. Exane Derivatives now owns 48,699 shares of the company’s stock worth $2,627,000 after acquiring an additional 28,217 shares during the last quarter. Citizens Financial Group Inc. RI increased its stake in Sysco Corporation by 1,233.5% in the 1st quarter. Citizens Financial Group Inc. RI now owns 157,557 shares of the company’s stock worth $8,181,000 after acquiring an additional 145,742 shares during the last quarter. Sei Investments Co. increased its stake in Sysco Corporation by 29.3% in the 2nd quarter. Sei Investments Co. now owns 238,395 shares of the company’s stock worth $11,998,000 after acquiring an additional 54,078 shares during the last quarter. BARING ASSET MANAGEMENT Ltd increased its stake in Sysco Corporation by 15.5% in the 2nd quarter. BARING ASSET MANAGEMENT Ltd now owns 28,118 shares of the company’s stock worth $1,415,000 after acquiring an additional 3,773 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Sysco Corporation by 20.3% in the 2nd quarter. Victory Capital Management Inc. now owns 2,917,645 shares of the company’s stock worth $146,845,000 after acquiring an additional 491,398 shares during the last quarter. Institutional investors and hedge funds own 80.30% of the company’s stock.
A number of equities analysts have weighed in on SYY shares. Royal Bank Of Canada set a $50.00 target price on Sysco Corporation and gave the stock a “hold” rating in a research note on Friday, August 11th. Zacks Investment Research upgraded 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. Wells Fargo & Company reiterated a “buy” rating on shares of Sysco Corporation in a research report on Monday, August 14th. Pivotal Research reiterated a “hold” rating and set a $53.00 price objective on shares of Sysco Corporation in a research report on Sunday, November 5th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Sysco Corporation in a research report on Tuesday, September 12th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $56.42.
In other Sysco Corporation news, EVP Wayne Shurts sold 7,800 shares of the stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $54.86, for a total value of $427,908.00. Following the completion of the sale, the executive vice president now owns 58,776 shares in the company, valued at approximately $3,224,451.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William J. Delaney III sold 30,000 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $51.31, for a total value of $1,539,300.00. Following the completion of the sale, the chief executive officer now owns 406,725 shares of the company’s stock, valued at approximately $20,869,059.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,125,781 shares of company stock worth $114,211,628. 9.60% of the stock is owned by corporate insiders.
Sysco Corporation (NYSE SYY) traded up $0.17 on Monday, reaching $54.19. The company had a trading volume of 1,717,800 shares, compared to its average volume of 2,934,361. The company has a current ratio of 1.40, a quick ratio of 0.88 and a debt-to-equity ratio of 3.77. Sysco Corporation has a fifty-two week low of $48.85 and a fifty-two week high of $57.23. The company has a market cap of $28,200.00, a price-to-earnings ratio of 21.25, a price-to-earnings-growth ratio of 2.51 and a beta of 0.53.
Sysco Corporation (NYSE:SYY) last posted its quarterly earnings results on Monday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.02. Sysco Corporation had a return on equity of 58.47% and a net margin of 2.12%. The business had revenue of $14.65 billion for the quarter, compared to analyst estimates of $14.43 billion. During the same period last year, the company earned $0.67 EPS. Sysco Corporation’s revenue for the quarter was up 4.9% compared to the same quarter last year. equities research analysts anticipate that Sysco Corporation will post 2.77 EPS for the current fiscal year.
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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.
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