Ferguson Wellman Capital Management Inc. Lowers Holdings in Sysco Co. (NYSE:SYY)

Ferguson Wellman Capital Management Inc. lessened its stake in Sysco Co. (NYSE:SYY) by 26.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,889 shares of the company’s stock after selling 1,035 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Sysco were worth $226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of SYY. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Sysco by 3.0% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 63,045 shares of the company’s stock worth $5,118,000 after purchasing an additional 1,862 shares during the last quarter. Orion Portfolio Solutions LLC raised 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 worth $2,221,000 after purchasing an additional 2,552 shares during the last quarter. Cumberland Partners Ltd purchased a new position in Sysco in the 1st quarter worth about $487,000. Banco Santander S.A. purchased a new position in Sysco in the 1st quarter worth about $438,000. Finally, Mizuho Markets Americas LLC raised its position in Sysco by 102.1% in the 1st quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock worth $11,355,000 after buying an additional 70,660 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Transactions at Sysco

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the 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 sale, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,638,670.10. This represents a 7.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

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

Sysco Stock Down 2.2 %

NYSE SYY opened at $74.96 on Friday. The stock’s 50 day moving average is $76.08 and its 200 day moving average is $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. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.89. The stock has a market cap of $36.82 billion, a PE ratio of 19.27, a P/E/G ratio of 2.01 and a beta of 1.20.

Sysco (NYSE:SYY) last issued 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 firm had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same period last year, the company earned $1.07 earnings per share. Research analysts predict that Sysco Co. will post 4.57 EPS for the current fiscal year.

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.