Motco boosted its holdings in SYSCO Co. (NYSE:SYY) by 51.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,820 shares of the company’s stock after acquiring an additional 620 shares during the period. Motco’s holdings in SYSCO were worth $156,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of SYY. State Street Corp boosted its position in SYSCO by 6.3% during the 3rd quarter. State Street Corp now owns 26,747,724 shares of the company’s stock valued at $2,123,769,000 after purchasing an additional 1,590,356 shares during the period. BlackRock Inc. boosted its position in shares of SYSCO by 3.3% during the 2nd quarter. BlackRock Inc. now owns 31,130,419 shares of the company’s stock valued at $2,201,542,000 after acquiring an additional 1,004,706 shares in the last quarter. Unigestion Holding SA increased its stake in SYSCO by 197.1% in the third quarter. Unigestion Holding SA now owns 1,066,357 shares of the company’s stock valued at $84,669,000 after acquiring an additional 707,466 shares during the period. Renaissance Group LLC acquired a new position in SYSCO in the third quarter worth about $29,907,000. Finally, Teacher Retirement System of Texas lifted its stake in SYSCO by 132.0% during the third quarter. Teacher Retirement System of Texas now owns 656,812 shares of the company’s stock worth $52,151,000 after purchasing an additional 373,729 shares during the period. Institutional investors own 78.62% of the company’s stock.
In other news, EVP Greg D. Bertrand sold 900 shares of the firm’s stock in a transaction on Thursday, January 9th. The stock was sold at an average price of $85.06, for a total value of $76,554.00. Following the transaction, the executive vice president now directly owns 31,644 shares in the company, valued at approximately $2,691,638.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Greg D. Bertrand sold 47,643 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.00, for a total value of $4,049,655.00. Following the completion of the sale, the executive vice president now directly owns 30,744 shares of the company’s stock, valued at $2,613,240. The disclosure for this sale can be found here. In the last three months, insiders sold 163,028 shares of company stock worth $13,690,242. 5.24% of the stock is currently owned by company insiders.
SYSCO (NYSE:SYY) last released its earnings results on Monday, February 3rd. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. The firm had revenue of $15.03 billion during the quarter, compared to analyst estimates of $15.11 billion. SYSCO had a net margin of 3.00% and a return on equity of 78.49%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 EPS. Sell-side analysts expect that SYSCO Co. will post 3.79 EPS for the current fiscal year.
SYY has been the topic of several analyst reports. Credit Suisse Group lowered their price objective on SYSCO from $89.00 to $84.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 4th. Piper Sandler restated a “neutral” rating and set a $90.00 target price (down previously from $94.00) on shares of SYSCO in a research report on Tuesday, January 14th. BMO Capital Markets decreased their price target on SYSCO from $94.00 to $88.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 4th. Wells Fargo & Co lowered SYSCO from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $90.00 to $75.00 in a research note on Tuesday, February 4th. Finally, Piper Jaffray Companies started coverage on SYSCO in a research report on Thursday, December 12th. They issued an “overweight” rating and a $94.00 price target on the stock. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $79.20.
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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