Transcend Capital Advisors LLC Raises Stock Position in Sysco Co. (NYSE:SYY)

Transcend Capital Advisors LLC grew its holdings in Sysco Co. (NYSE:SYY) by 16.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,466 shares of the company’s stock after buying an additional 758 shares during the period. Transcend Capital Advisors LLC’s holdings in Sysco were worth $418,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp grew its stake in shares of Sysco by 11.1% in the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock worth $2,130,617,000 after buying an additional 2,721,449 shares in the last quarter. Diamond Hill Capital Management Inc. grew its stake in shares of Sysco by 11.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after buying an additional 672,940 shares in the last quarter. Primecap Management Co. CA grew its stake in shares of Sysco by 9.7% in the 3rd quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock worth $374,410,000 after buying an additional 422,954 shares in the last quarter. Montrusco Bolton Investments Inc. grew its stake in shares of Sysco by 8.5% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock worth $366,789,000 after buying an additional 375,409 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Sysco by 4.1% in the 3rd quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock worth $332,983,000 after buying an additional 168,163 shares in the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Trading Up 2.8 %

Shares of SYY opened at $73.22 on Friday. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.33. The company has a 50-day moving average of $73.96 and a 200 day moving average of $75.68. The firm has a market capitalization of $35.82 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 1.88 and a beta of 1.17. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period last year, the company posted $0.89 earnings per share. On average, research analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Insider Activity

In other news, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the completion of the sale, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,876,080. The trade was a 11.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Greg D. Bertrand sold 21,844 shares of Sysco stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $1,747,520.00. Following the completion of the transaction, the executive vice president now directly owns 60,581 shares in the company, valued at approximately $4,846,480. The trade was a 26.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,370 shares of company stock worth $5,965,519. 0.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on SYY shares. Melius started coverage on shares of Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective for the company. Barclays lowered their target price on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. UBS Group lowered their target price on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $84.38.

Sysco Company 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.