Bradley Foster & Sargent Inc. CT Cuts Stake in Sysco Co. (NYSE:SYY)

Bradley Foster & Sargent Inc. CT cut its stake in Sysco Co. (NYSE:SYY) by 18.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,865 shares of the company’s stock after selling 8,093 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Sysco were worth $2,742,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Boston Financial Mangement LLC raised its holdings in shares of Sysco by 35.3% during the fourth quarter. Boston Financial Mangement LLC now owns 13,427 shares of the company’s stock valued at $1,027,000 after acquiring an additional 3,500 shares during the last quarter. Concurrent Investment Advisors LLC increased its position in shares of Sysco by 18.6% during the fourth quarter. Concurrent Investment Advisors LLC now owns 27,819 shares of the company’s stock worth $2,127,000 after purchasing an additional 4,356 shares in the last quarter. Handelsbanken Fonder AB raised its stake in Sysco by 3.3% in the 4th quarter. Handelsbanken Fonder AB now owns 295,180 shares of the company’s stock valued at $22,569,000 after purchasing an additional 9,485 shares during the last quarter. LMG Wealth Partners LLC boosted its stake in Sysco by 1.7% during the 4th quarter. LMG Wealth Partners LLC now owns 58,330 shares of the company’s stock worth $4,460,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Private Advisor Group LLC grew its holdings in shares of Sysco by 20.1% during the fourth quarter. Private Advisor Group LLC now owns 45,722 shares of the company’s stock worth $3,496,000 after buying an additional 7,640 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Sysco news, SVP Eve M. Mcfadden sold 6,499 shares of Sysco stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $519,920.00. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,876,080. The trade was a 11.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the sale, the executive vice president now directly owns 56,304 shares in the company, valued at $4,335,408. This represents a 46.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,370 shares of company stock worth $5,965,519 over the last ninety days. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SYY shares. Barclays decreased their price target on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. UBS Group lowered their target price on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Morgan Stanley cut their price target on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Jefferies Financial Group boosted their price objective on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. dropped their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $84.38.

Sysco Stock Up 2.8 %

Shares of SYY opened at $73.22 on Friday. The company’s 50-day moving average price is $73.96 and its 200 day moving average price is $75.68. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.33. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The firm has a market cap of $35.82 billion, a P/E ratio of 18.82, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17.

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