Bbva Compass Bancshares Inc. Reduces Holdings in SYSCO Co. (SYY)

Bbva Compass Bancshares Inc. reduced its position in SYSCO Co. (NYSE:SYY) by 11.1% during the 3rd quarter, Holdings Channel reports. The firm owned 6,503 shares of the company’s stock after selling 815 shares during the quarter. Bbva Compass Bancshares Inc.’s holdings in SYSCO were worth $476,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. IFM Investors Pty Ltd lifted its position in SYSCO by 47.2% during the second quarter. IFM Investors Pty Ltd now owns 23,005 shares of the company’s stock valued at $1,571,000 after purchasing an additional 7,381 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in SYSCO by 17.1% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 8,924 shares of the company’s stock valued at $609,000 after purchasing an additional 1,300 shares during the last quarter. Pennsylvania Trust Co lifted its position in SYSCO by 8.8% during the second quarter. Pennsylvania Trust Co now owns 65,966 shares of the company’s stock valued at $4,505,000 after purchasing an additional 5,340 shares during the last quarter. Triangle Securities Wealth Management bought a new position in SYSCO during the second quarter valued at $208,000. Finally, FormulaFolio Investments LLC bought a new position in SYSCO during the second quarter valued at $221,000. 80.11% of the stock is currently owned by institutional investors.

Several research firms have recently issued reports on SYY. Morgan Stanley raised their target price on shares of SYSCO from $61.00 to $67.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 17th. Wells Fargo & Co raised their target price on shares of SYSCO from $71.00 to $80.00 and gave the stock a “$70.32” rating in a report on Wednesday, July 18th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of SYSCO from a “hold” rating to a “sell” rating in a report on Monday, July 23rd. ValuEngine lowered shares of SYSCO from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, Pivotal Research lowered shares of SYSCO from a “hold” rating to a “sell” rating and set a $58.00 target price for the company. in a report on Friday, August 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $73.15.

In related news, SVP Brian R. Todd sold 9,147 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $73.82, for a total value of $675,231.54. Following the transaction, the senior vice president now owns 11,747 shares of the company’s stock, valued at approximately $867,163.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard G. Tilghman sold 5,000 shares of the firm’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $68.62, for a total transaction of $343,100.00. Following the completion of the transaction, the director now directly owns 56,393 shares in the company, valued at approximately $3,869,687.66. The disclosure for this sale can be found here. Insiders sold a total of 3,969,811 shares of company stock worth $297,370,093 in the last ninety days. 7.88% of the stock is currently owned by insiders.

SYSCO stock opened at $66.56 on Friday. The stock has a market capitalization of $33.56 billion, a PE ratio of 21.20, a PEG ratio of 1.77 and a beta of 0.56. The company has a debt-to-equity ratio of 3.00, a current ratio of 1.30 and a quick ratio of 0.74. SYSCO Co. has a 12-month low of $53.49 and a 12-month high of $75.98.

SYSCO (NYSE:SYY) last posted its quarterly earnings results on Monday, November 5th. The company reported $0.91 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.01). The company had revenue of $15.22 billion during the quarter, compared to analysts’ expectations of $15.39 billion. SYSCO had a return on equity of 68.81% and a net margin of 2.52%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.74 EPS. Research analysts forecast that SYSCO Co. will post 3.43 EPS for the current year.

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SYSCO Company 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: Outstanding Shares

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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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