Main Street Financial Solutions LLC Increases Holdings in Sysco Co. (NYSE:SYY)

Main Street Financial Solutions LLC boosted its position in shares of Sysco Co. (NYSE:SYY) by 43.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,170 shares of the company’s stock after purchasing an additional 3,968 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Sysco were worth $1,028,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of SYY. Armstrong Advisory Group Inc. raised its holdings in shares of Sysco by 1,240.0% in the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after acquiring an additional 310 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Sysco in the 3rd quarter valued at about $26,000. TruNorth Capital Management LLC bought a new stake in shares of Sysco in the 2nd quarter valued at about $25,000. Focused Wealth Management Inc purchased a new stake in shares of Sysco in the 3rd quarter worth approximately $37,000. Finally, Canoe Financial LP bought a new position in shares of Sysco during the third quarter valued at approximately $38,000. 83.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

SYY has been the subject of a number of recent research reports. Bank of America reduced their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Barclays boosted their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Finally, Jefferies Financial Group raised their price target on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $85.77.

Insider Buying and Selling

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the sale, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.54% of the stock is owned by corporate insiders.

Sysco Price Performance

Shares of SYY opened at $76.66 on Thursday. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The company’s fifty day moving average price is $76.12 and its 200-day moving average price is $74.73. Sysco Co. has a 1-year low of $67.77 and a 1-year high of $82.89. The firm has a market capitalization of $37.66 billion, a PE ratio of 19.71, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.47 billion. During the same quarter in the previous year, the firm posted $1.07 EPS. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities research analysts predict that Sysco Co. will post 4.57 EPS for the current year.

Sysco Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.