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

Transcend Capital Advisors LLC lifted its position in Sysco Co. (NYSE:SYY) by 16.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 5,466 shares of the company’s stock after buying an additional 758 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Sysco were worth $418,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Boston Financial Mangement LLC grew its position in Sysco by 35.3% during the 4th quarter. Boston Financial Mangement LLC now owns 13,427 shares of the company’s stock worth $1,027,000 after purchasing an additional 3,500 shares during the last quarter. Concurrent Investment Advisors LLC grew its position in Sysco by 18.6% during the 4th 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 during the last quarter. Handelsbanken Fonder AB grew its position in Sysco by 3.3% during the 4th quarter. Handelsbanken Fonder AB now owns 295,180 shares of the company’s stock worth $22,569,000 after purchasing an additional 9,485 shares during the last quarter. LMG Wealth Partners LLC grew its position 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 position in Sysco by 20.1% during the 4th quarter. Private Advisor Group LLC now owns 45,722 shares of the company’s stock worth $3,496,000 after purchasing an additional 7,640 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Transactions at Sysco

In other news, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares of the company’s stock, valued at $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Eve M. Mcfadden sold 6,499 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the sale, 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 disclosure for this sale can be found here. Insiders sold 76,370 shares of company stock valued at $5,965,519 over the last 90 days. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on SYY. Melius Research raised shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Barclays dropped their target price on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Morgan Stanley dropped their price objective on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Melius started coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective on the stock. Finally, UBS Group dropped their price objective on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.38.

Sysco Stock Performance

NYSE:SYY opened at $73.22 on Friday. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The company has a fifty day moving average of $73.96 and a two-hundred day moving average of $75.68. The stock has a market capitalization of $35.82 billion, a PE ratio of 18.82, a P/E/G ratio of 1.88 and a beta of 1.17. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.33.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting 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 quarter in the previous year, the firm earned $0.89 earnings per share. As a group, research analysts forecast that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco 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.