Traders Buy Shares of Sysco Corporation (SYY) on Weakness
Traders bought shares of Sysco Corporation (NYSE:SYY) on weakness during trading on Tuesday. $67.71 million flowed into the stock on the tick-up and $32.90 million flowed out of the stock on the tick-down, for a money net flow of $34.81 million into the stock. Of all equities tracked, Sysco Corporation had the 25th highest net in-flow for the day. Sysco Corporation traded down ($1.58) for the day and closed at $52.59
A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded Sysco Corporation from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Tuesday, October 10th. Wells Fargo & Company restated a “buy” rating on shares of Sysco Corporation in a research report on Monday, August 14th. BMO Capital Markets set a $60.00 price objective on Sysco Corporation and gave the company a “buy” rating in a research report on Thursday, August 3rd. Pivotal Research set a $53.00 price objective on Sysco Corporation and gave the company a “hold” rating in a research report on Sunday, August 13th. Finally, Royal Bank Of Canada set a $50.00 price objective on Sysco Corporation and gave the company a “hold” rating in a research report on Friday, August 11th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $56.42.
The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.83 and a current ratio of 1.32. The company has a market cap of $27,520.00, a P/E ratio of 22.85, a price-to-earnings-growth ratio of 2.43 and a beta of 0.53.
Sysco Corporation (NYSE:SYY) last announced its earnings results on Monday, November 6th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.02. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The firm had revenue of $14.65 billion for the quarter, compared to the consensus estimate of $14.43 billion. During the same quarter in the previous year, the business earned $0.67 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. sell-side analysts forecast that Sysco Corporation will post 2.78 EPS for the current year.
In other news, Director Trian Fund Management, L.P. acquired 889,561 shares of the company’s stock in a transaction dated Tuesday, September 19th. The shares were bought at an average price of $53.68 per share, with a total value of $47,751,634.48. Following the purchase, the director now owns 5,529 shares of the company’s stock, valued at $296,796.72. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Wayne Shurts sold 7,800 shares of the business’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $54.86, for a total value of $427,908.00. Following the completion of the sale, the executive vice president now directly owns 58,776 shares in the company, valued at approximately $3,224,451.36. The disclosure for this sale can be found here. Insiders sold a total of 2,125,781 shares of company stock worth $114,211,628 in the last three months. Company insiders own 9.60% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Patton Albertson Miller Group LLC acquired a new stake in shares of Sysco Corporation during the first quarter worth $243,000. Comerica Securities Inc. grew its holdings in shares of Sysco Corporation by 374.0% during the first quarter. Comerica Securities Inc. now owns 34,828 shares of the company’s stock valued at $1,808,000 after buying an additional 27,481 shares in the last quarter. Cadence Capital Management LLC grew its holdings in shares of Sysco Corporation by 4.3% during the first quarter. Cadence Capital Management LLC now owns 117,509 shares of the company’s stock valued at $6,101,000 after buying an additional 4,877 shares in the last quarter. ARGI Investment Services LLC purchased a new position in shares of Sysco Corporation during the first quarter valued at $837,000. Finally, Choate Investment Advisors purchased a new position in shares of Sysco Corporation during the first quarter valued at $269,000. 80.07% of the stock is currently owned by institutional investors.
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About Sysco Corporation
Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.
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