Sysco Co. (NYSE:SYY) Shares Sold by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC lowered its stake in Sysco Co. (NYSE:SYY) by 6.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,930 shares of the company’s stock after selling 925 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Sysco were worth $923,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Capital World Investors grew its stake in shares of Sysco by 17.5% in the first quarter. Capital World Investors now owns 10,984,950 shares of the company’s stock valued at $891,758,000 after buying an additional 1,637,232 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Sysco by 112.8% in the first quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock valued at $536,770,000 after buying an additional 3,504,740 shares in the last quarter. Norges Bank acquired a new stake in shares of Sysco in the fourth quarter valued at about $450,794,000. The Manufacturers Life Insurance Company grew its stake in shares of Sysco by 132.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,653,446 shares of the company’s stock valued at $267,177,000 after buying an additional 2,084,501 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Sysco by 8.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,036,100 shares of the company’s stock valued at $222,029,000 after buying an additional 240,671 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of NYSE SYY traded up $0.48 during mid-day trading on Friday, hitting $76.24. The company had a trading volume of 1,073,455 shares, compared to its average volume of 3,108,645. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89. The stock has a market cap of $37.97 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 1.97 and a beta of 1.18. The firm’s 50 day simple moving average is $73.00 and its two-hundred day simple moving average is $76.10. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.01. The company had revenue of $20.56 billion for the quarter, compared to analysts’ expectations of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the firm earned $1.34 EPS. As a group, equities research analysts forecast that Sysco Co. will post 4.6 earnings per share for the current year.

Analyst Ratings Changes

SYY has been the subject of a number of recent analyst reports. Guggenheim upgraded Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Tuesday, May 28th. Piper Sandler lowered their price objective on Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. BMO Capital Markets lowered their price objective on Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. Barclays raised their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lowered their price objective on Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $85.27.

About Sysco

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.