Redmond Asset Management LLC Purchases Shares of 17,979 Sysco Co. (NYSE:SYY)

Redmond Asset Management LLC purchased a new stake in shares of Sysco Co. (NYSE:SYY) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 17,979 shares of the company’s stock, valued at approximately $1,375,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in Sysco during the 3rd quarter valued at approximately $26,000. Valley Wealth Managers Inc. bought a new position in Sysco during the 3rd quarter valued at approximately $31,000. Stonebridge Financial Group LLC bought a new position in Sysco during the 4th quarter valued at approximately $31,000. Focused Wealth Management Inc purchased a new position in shares of Sysco during the 3rd quarter worth approximately $37,000. Finally, Canoe Financial LP purchased a new position in shares of Sysco during the 3rd quarter worth approximately $38,000. Institutional investors own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SYY. Jefferies Financial Group upped their target price on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Guggenheim reiterated a “buy” rating and set a $85.00 target price on shares of Sysco in a report on Wednesday, January 29th. Morgan Stanley reduced their target price on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. UBS Group reduced their target price on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $84.38.

Insiders Place Their Bets

In other news, SVP Eve M. Mcfadden sold 6,499 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $519,920.00. Following the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at $3,876,080. This trade represents a 11.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the transaction, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,370 shares of company stock valued at $5,965,519. Corporate insiders own 0.54% of the company’s stock.

Sysco Stock Up 2.8 %

Sysco stock opened at $73.22 on Friday. The firm has a market cap of $35.82 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 1.88 and a beta of 1.17. The stock has a fifty day simple moving average of $73.96 and a two-hundred day simple moving average of $75.68. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.33. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period last year, the business posted $0.89 earnings per share. Equities analysts predict that Sysco Co. will post 4.58 EPS 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.