Thrivent Financial for Lutherans Boosts Holdings in Sysco Co. (NYSE:SYY)

Thrivent Financial for Lutherans increased its holdings in shares of Sysco Co. (NYSE:SYY) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,588,381 shares of the company’s stock after buying an additional 40,340 shares during the period. Thrivent Financial for Lutherans owned about 0.32% of Sysco worth $123,988,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Claro Advisors LLC purchased a new position in Sysco in the third quarter valued at $250,000. Atlanta Consulting Group Advisors LLC purchased a new position in shares of Sysco in the 3rd quarter valued at about $292,000. Seizert Capital Partners LLC grew its position in shares of Sysco by 3.4% during the third quarter. Seizert Capital Partners LLC now owns 499,529 shares of the company’s stock worth $38,993,000 after buying an additional 16,253 shares in the last quarter. Natixis Advisors LLC increased its stake in shares of Sysco by 18.5% during the third quarter. Natixis Advisors LLC now owns 671,657 shares of the company’s stock worth $52,430,000 after buying an additional 105,071 shares during the period. Finally, Valley Wealth Managers Inc. acquired a new stake in Sysco in the third quarter valued at approximately $31,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Sysco Price Performance

Shares of SYY opened at $74.95 on Friday. 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 stock’s 50 day moving average is $75.93 and its two-hundred day moving average is $74.73. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.89. The firm has a market capitalization of $36.82 billion, a PE ratio of 19.27, a P/E/G ratio of 1.97 and a beta of 1.20.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The business had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.47 billion. During the same quarter last year, the firm earned $1.07 earnings per share. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. Research analysts anticipate that Sysco Co. will post 4.57 earnings per share for the current year.

Insider Activity

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 transaction of $303,103.60. Following the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.54% of the company’s stock.

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.