Sysco Corporation (SYY) Holdings Cut by Comerica Bank
Comerica Bank trimmed its holdings in shares of Sysco Corporation (NYSE:SYY) by 32.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 381,827 shares of the company’s stock after selling 187,142 shares during the period. Comerica Bank owned 0.07% of Sysco Corporation worth $20,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Sysco Corporation by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 38,501,911 shares of the company’s stock worth $1,937,801,000 after buying an additional 590,968 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Sysco Corporation by 0.3% in the 2nd quarter. BlackRock Inc. now owns 32,291,082 shares of the company’s stock valued at $1,625,211,000 after purchasing an additional 83,464 shares during the last quarter. State Street Corp lifted its holdings in shares of Sysco Corporation by 1.0% in the 2nd quarter. State Street Corp now owns 26,707,981 shares of the company’s stock valued at $1,344,209,000 after purchasing an additional 272,303 shares during the last quarter. Capital World Investors lifted its holdings in shares of Sysco Corporation by 11.7% in the 2nd quarter. Capital World Investors now owns 13,767,000 shares of the company’s stock valued at $692,893,000 after purchasing an additional 1,445,000 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Sysco Corporation by 4.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,242,998 shares of the company’s stock valued at $515,484,000 after purchasing an additional 405,191 shares during the last quarter. 80.30% of the stock is owned by institutional investors.
In other Sysco Corporation news, CEO William J. Delaney III sold 30,000 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $51.31, for a total transaction of $1,539,300.00. Following the transaction, the chief executive officer now owns 406,725 shares of the company’s stock, valued at approximately $20,869,059.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Trian Fund Management, L.P. purchased 889,561 shares of Sysco Corporation stock in a transaction on Tuesday, September 19th. The shares were acquired at an average cost of $53.68 per share, for a total transaction of $47,751,634.48. Following the purchase, the director now owns 5,529 shares in the company, valued at $296,796.72. The disclosure for this purchase can be found here. In the last three months, insiders have sold 2,125,781 shares of company stock worth $114,211,628. Corporate insiders own 9.60% of the company’s stock.
Sysco Corporation (NYSE:SYY) traded up $0.63 during mid-day trading on Tuesday, reaching $54.65. The company had a trading volume of 776,590 shares, compared to its average volume of 2,931,274. Sysco Corporation has a 12-month low of $48.85 and a 12-month high of $57.23. The company has a current ratio of 1.40, a quick ratio of 0.88 and a debt-to-equity ratio of 3.77. The stock has a market cap of $28,150.00, a price-to-earnings ratio of 21.25, a P/E/G ratio of 2.51 and a beta of 0.53.
Sysco Corporation (NYSE:SYY) last posted its earnings results on Monday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. Sysco Corporation had a return on equity of 58.47% and a net margin of 2.12%. The firm had revenue of $14.65 billion for the quarter, compared to analyst estimates of $14.43 billion. During the same quarter in the prior year, the company earned $0.67 EPS. Sysco Corporation’s revenue was up 4.9% on a year-over-year basis. analysts anticipate that Sysco Corporation will post 2.77 EPS for the current year.
SYY has been the subject of several research reports. Pivotal Research reissued a “hold” rating and issued a $53.00 target price on shares of Sysco Corporation in a report on Sunday, November 5th. Zacks Investment Research raised Sysco Corporation from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a report on Friday, July 21st. BMO Capital Markets reissued an “outperform” rating on shares of Sysco Corporation in a report on Tuesday, September 12th. Wells Fargo & Company reissued a “buy” rating on shares of Sysco Corporation in a report on Monday, July 17th. Finally, Royal Bank Of Canada set a $50.00 price target on Sysco Corporation and gave the company a “hold” rating in a research report on Friday, August 11th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Sysco Corporation currently has an average rating of “Hold” and an average price target of $56.42.
Sysco Corporation Profile
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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