Handelsbanken Fonder AB Grows Holdings in Sysco Co. (NYSE:SYY)

Handelsbanken Fonder AB increased its stake in shares of Sysco Co. (NYSE:SYY) by 3.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 295,180 shares of the company’s stock after purchasing an additional 9,485 shares during the period. Handelsbanken Fonder AB owned approximately 0.06% of Sysco worth $22,569,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in SYY. National Pension Service boosted its position in shares of Sysco by 15.6% during the third quarter. National Pension Service now owns 1,237,017 shares of the company’s stock worth $96,562,000 after buying an additional 166,798 shares during the period. New England Asset Management Inc. boosted its holdings in Sysco by 12.7% during the 3rd quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock valued at $10,254,000 after acquiring an additional 14,810 shares during the period. Empowered Funds LLC grew its position in Sysco by 29.0% in the 3rd quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock valued at $6,115,000 after acquiring an additional 17,587 shares in the last quarter. Diamond Hill Capital Management Inc. increased its stake in Sysco by 11.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after purchasing an additional 672,940 shares during the period. Finally, Captrust Financial Advisors lifted its position in shares of Sysco by 7.7% during the third quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock worth $9,706,000 after purchasing an additional 8,891 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Buying and Selling at Sysco

In other news, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $519,920.00. Following the completion of the sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at approximately $3,876,080. The trade was a 11.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Greg D. Bertrand sold 21,844 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $1,747,520.00. Following the transaction, the executive vice president now owns 60,581 shares in the company, valued at $4,846,480. This represents a 26.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,370 shares of company stock worth $5,965,519 over the last 90 days. Corporate insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Melius Research upgraded shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. Guggenheim restated a “buy” rating and issued a $85.00 price target on shares of Sysco in a research note on Wednesday, January 29th. Melius assumed coverage on Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective on the stock. Truist Financial lowered their target price on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, Morgan Stanley cut their price target on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and an average price target of $84.38.

Sysco Price Performance

SYY stock opened at $71.12 on Friday. The business has a 50 day moving average price of $74.10 and a 200 day moving average price of $75.69. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The stock has a market cap of $34.79 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.85 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 issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting the consensus estimate 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 prior year, the firm posted $0.89 earnings per share. Equities research analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current fiscal 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.