Sysco Co. (NYSE:SYY) Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans boosted its holdings in Sysco Co. (NYSE:SYY) by 2.6% during the third quarter, Holdings Channel.com reports. The fund owned 1,588,381 shares of the company’s stock after acquiring an additional 40,340 shares during the period. Thrivent Financial for Lutherans’ holdings in Sysco were worth $123,988,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Research Global Investors grew its position 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 purchasing an additional 3,504,740 shares during the last quarter. ProShare Advisors LLC grew its holdings in Sysco by 103.0% during the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock valued at $338,830,000 after buying an additional 2,408,226 shares during the last quarter. Swedbank AB purchased a new position in Sysco during the first quarter worth $178,824,000. Diamond Hill Capital Management Inc. raised its holdings in shares of Sysco by 49.8% in the second quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock worth $429,240,000 after acquiring an additional 1,997,895 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Sysco by 26.1% in the second quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock valued at $615,076,000 after acquiring an additional 1,782,180 shares in the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 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 sale, the senior vice president now owns 48,451 shares in the company, valued at $3,638,670.10. This trade represents a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Wells Fargo & Company lowered their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Jefferies Financial Group upped their price objective on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Barclays lifted their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $85.77.

Sysco Price Performance

SYY opened at $74.95 on Friday. The company has a 50 day moving average of $75.93 and a two-hundred day moving average of $74.73. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.89. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The company has a market cap of $36.82 billion, a P/E ratio of 19.27, a P/E/G ratio of 1.97 and a beta of 1.20.

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

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.