Earnest Partners LLC Raises Holdings in Sysco Co. (NYSE:SYY)

Earnest Partners LLC boosted its stake in Sysco Co. (NYSE:SYY) by 10.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 932,445 shares of the company’s stock after buying an additional 86,106 shares during the quarter. Earnest Partners LLC’s holdings in Sysco were worth $75,696,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of SYY. Chicago Partners Investment Group LLC grew its holdings in shares of Sysco by 1.8% during the fourth quarter. Chicago Partners Investment Group LLC now owns 7,150 shares of the company’s stock worth $536,000 after buying an additional 124 shares in the last quarter. Hunter Associates Investment Management LLC raised its holdings in Sysco by 1.5% in the 4th quarter. Hunter Associates Investment Management LLC now owns 8,275 shares of the company’s stock valued at $606,000 after acquiring an additional 125 shares during the last quarter. Bell Investment Advisors Inc lifted its stake in shares of Sysco by 8.2% during the 4th quarter. Bell Investment Advisors Inc now owns 1,722 shares of the company’s stock worth $126,000 after purchasing an additional 131 shares during the period. Beacon Investment Advisors LLC boosted its holdings in shares of Sysco by 0.5% during the fourth quarter. Beacon Investment Advisors LLC now owns 24,680 shares of the company’s stock worth $1,805,000 after purchasing an additional 133 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. grew its position in shares of Sysco by 6.4% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 2,246 shares of the company’s stock valued at $165,000 after purchasing an additional 135 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. reduced their target price on Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. Morgan Stanley decreased their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Guggenheim raised shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a research report on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Finally, Barclays dropped their price objective on Sysco from $88.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and an average price target of $85.00.

Sysco Stock Up 0.6 %

Sysco stock traded up $0.41 during trading on Monday, reaching $73.26. 3,776,874 shares of the company’s stock were exchanged, compared to its average volume of 3,098,273. The company’s 50-day moving average is $72.27 and its two-hundred day moving average is $76.08. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.77 and a current ratio of 1.34. Sysco Co. has a 52-week low of $62.24 and a 52-week high of $82.89. The firm has a market cap of $36.48 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 1.96 and a beta of 1.18.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. The business had revenue of $19.38 billion during the quarter, compared to analyst estimates of $19.74 billion. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 earnings per share. On average, analysts predict that Sysco Co. will post 4.3 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.