Engine Capital Management LP Sells 359,528 Shares of SunocoCorp LLC $SUNC

Engine Capital Management LP cut its stake in shares of SunocoCorp LLC (NYSE:SUNC) by 26.1% in the 1st quarter, Holdings Channel reports. The fund owned 1,019,854 shares of the company’s stock after selling 359,528 shares during the quarter. SunocoCorp accounts for approximately 7.6% of Engine Capital Management LP’s portfolio, making the stock its 3rd biggest position. Engine Capital Management LP’s holdings in SunocoCorp were worth $62,874,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd purchased a new position in shares of SunocoCorp in the 4th quarter valued at approximately $43,000. SG Americas Securities LLC purchased a new stake in shares of SunocoCorp during the first quarter worth approximately $112,000. Deutsche Bank AG purchased a new stake in shares of SunocoCorp during the fourth quarter worth approximately $92,000. State of Wyoming acquired a new stake in shares of SunocoCorp during the first quarter worth $164,000. Finally, Danske Bank A S acquired a new stake in shares of SunocoCorp during the fourth quarter worth $133,000.

SunocoCorp Price Performance

SUNC opened at $75.47 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 1.40 and a debt-to-equity ratio of 1.67. SunocoCorp LLC has a 12 month low of $47.00 and a 12 month high of $77.55. The firm has a market cap of $3.89 billion and a PE ratio of 35.43. The company has a 50 day simple moving average of $68.72.

SunocoCorp (NYSE:SUNC) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.47. The business had revenue of $10.69 billion for the quarter, compared to analyst estimates of $9.56 billion. Research analysts anticipate that SunocoCorp LLC will post 6.88 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SUNC shares. Citigroup boosted their price objective on shares of SunocoCorp from $65.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Barclays raised their target price on shares of SunocoCorp from $75.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Zacks Research raised shares of SunocoCorp from a “strong sell” rating to a “hold” rating in a report on Friday, June 19th. Raymond James Financial reiterated a “strong-buy” rating and set a $80.00 price target on shares of SunocoCorp in a research note on Wednesday, May 6th. Finally, Mizuho began coverage on shares of SunocoCorp in a report on Friday. They set an “outperform” rating and a $83.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $78.50.

About SunocoCorp

Sunoco LP is an energy infrastructure and fuel distribution master limited partnership. Sunoco LP is based in DALLAS.