SYSCO Co. (SYY) Shares Sold by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC cut its stake in shares of SYSCO Co. (NYSE:SYY) by 1.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,283,987 shares of the company’s stock after selling 17,520 shares during the quarter. SYSCO comprises approximately 1.9% of O Shaughnessy Asset Management LLC’s investment portfolio, making the stock its 15th biggest holding. O Shaughnessy Asset Management LLC owned 0.25% of SYSCO worth $93,694,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SYY. Bank of America Corp DE grew its holdings in shares of SYSCO by 64.6% during the second quarter. Bank of America Corp DE now owns 17,662,742 shares of the company’s stock valued at $1,206,188,000 after buying an additional 6,929,805 shares during the last quarter. Morgan Stanley grew its holdings in shares of SYSCO by 83.0% during the second quarter. Morgan Stanley now owns 3,896,733 shares of the company’s stock valued at $266,109,000 after buying an additional 1,767,298 shares during the last quarter. Unigestion Holding SA purchased a new stake in shares of SYSCO during the second quarter valued at $55,998,000. Bank of Montreal Can grew its holdings in shares of SYSCO by 14.9% during the second quarter. Bank of Montreal Can now owns 4,552,341 shares of the company’s stock valued at $310,878,000 after buying an additional 590,410 shares during the last quarter. Finally, Sabal Trust CO purchased a new stake in shares of SYSCO during the second quarter valued at $24,275,000. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have recently weighed in on SYY. BMO Capital Markets boosted their price objective on shares of SYSCO from $74.00 to $81.00 and gave the company an “outperform” rating in a report on Tuesday, August 14th. Credit Suisse Group decreased their target price on shares of SYSCO from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday. Morgan Stanley decreased their target price on shares of SYSCO from $71.00 to $69.00 and set a “hold” rating for the company in a research report on Tuesday. Wells Fargo & Co boosted their target price on shares of SYSCO from $71.00 to $80.00 and gave the company a “$70.32” rating in a research report on Wednesday, July 18th. They noted that the move was a valuation call. Finally, Loop Capital boosted their target price on shares of SYSCO to $80.00 and gave the company a “buy” rating in a research report on Tuesday, August 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. SYSCO presently has an average rating of “Hold” and an average target price of $73.15.

In other SYSCO news, Director Trian Fund Management, L.P. sold 2,115,358 shares of the company’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $74.81, for a total value of $158,249,931.98. Following the completion of the transaction, the director now owns 4,005 shares in the company, valued at $299,614.05. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard G. Tilghman sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $73.82, for a total transaction of $369,100.00. Following the completion of the transaction, the director now owns 66,137 shares of the company’s stock, valued at approximately $4,882,233.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,969,811 shares of company stock valued at $297,370,093. Insiders own 7.88% of the company’s stock.

NYSE SYY opened at $67.43 on Friday. The firm has a market cap of $33.56 billion, a P/E ratio of 21.47, a price-to-earnings-growth ratio of 1.77 and a beta of 0.56. SYSCO Co. has a 1 year low of $53.49 and a 1 year high of $75.98. 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 (NYSE:SYY) last posted its earnings results on Monday, November 5th. The company reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.01). The business had revenue of $15.22 billion for the quarter, compared to analyst estimates of $15.39 billion. SYSCO had a net margin of 2.52% and a return on equity of 68.81%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 earnings per share. On average, equities analysts predict that SYSCO Co. will post 3.42 EPS for the current fiscal year.

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SYSCO 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.

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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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