Linscomb Wealth Inc. Reduces Position in Sysco Co. (NYSE:SYY)

Linscomb Wealth Inc. reduced its position in shares of Sysco Co. (NYSE:SYY) by 8.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,490 shares of the company’s stock after selling 333 shares during the period. Linscomb Wealth Inc.’s holdings in Sysco were worth $272,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SYY. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Sysco by 3.0% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 63,045 shares of the company’s stock valued at $5,118,000 after purchasing an additional 1,862 shares in the last quarter. Orion Portfolio Solutions LLC grew its position in shares of Sysco by 10.3% in the 1st quarter. Orion Portfolio Solutions LLC now owns 27,360 shares of the company’s stock valued at $2,221,000 after buying an additional 2,552 shares during the last quarter. Banco Santander S.A. acquired a new position in Sysco in the first quarter valued at $438,000. First Foundation Advisors grew its stake in Sysco by 17.5% during the 1st quarter. First Foundation Advisors now owns 4,517 shares of the company’s stock worth $367,000 after buying an additional 674 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. acquired a new position in Sysco during the first quarter worth approximately $214,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Down 0.0 %

Shares of NYSE SYY opened at $74.95 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The firm has a 50-day moving average price of $75.93 and a 200 day moving average price of $74.73. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.89. The stock has a market capitalization 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 (NYSE:SYY) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.04). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The firm had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.47 billion. During the same period last year, the firm earned $1.07 EPS. Sysco’s revenue was up 4.4% compared to the same quarter last year. Equities research analysts anticipate that Sysco Co. will post 4.57 EPS for the current fiscal year.

Insider Buying and Selling at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.