Lifeworks Advisors LLC Acquires Shares of 2,912 Sysco Co. (NYSE:SYY)

Lifeworks Advisors LLC bought a new position in Sysco Co. (NYSE:SYY) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,912 shares of the company’s stock, valued at approximately $227,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital World Investors increased its holdings 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 worth $891,758,000 after purchasing an additional 1,637,232 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Sysco by 26.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock worth $615,076,000 after acquiring an additional 1,782,180 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of Sysco by 11.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after acquiring an additional 672,940 shares during the last quarter. Capital Research Global Investors grew its holdings 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 in the last quarter. Finally, ProShare Advisors LLC increased its position in Sysco by 103.0% in the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock worth $338,830,000 after purchasing an additional 2,408,226 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Sysco Stock Down 0.0 %

NYSE:SYY opened at $74.95 on Friday. The stock has a fifty day simple moving average of $76.00 and a 200-day simple moving average of $74.74. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The company has a market cap of $36.82 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 2.01 and a beta of 1.20. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.89.

Sysco (NYSE:SYY) last released its quarterly earnings data 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 analysts’ expectations of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. Sysco’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the firm earned $1.07 earnings per share. Analysts anticipate that Sysco Co. will post 4.57 EPS for the current year.

Insider Activity at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,638,670.10. The trade was a 7.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.54% of the stock is owned by company insiders.

Sysco Company 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.