Howard Capital Management Inc. Boosts Position in Sysco Co. (NYSE:SYY)

Howard Capital Management Inc. raised its holdings in shares of Sysco Co. (NYSE:SYY) by 5.0% during the fourth quarter, HoldingsChannel reports. The firm owned 3,370 shares of the company’s stock after purchasing an additional 162 shares during the period. Howard Capital Management Inc.’s holdings in Sysco were worth $258,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Marshall Investment Management LLC purchased a new position in Sysco during the 4th quarter valued at about $87,000. Redmond Asset Management LLC purchased a new position in Sysco during the 4th quarter valued at about $1,375,000. Winebrenner Capital Management LLC purchased a new position in Sysco during the 4th quarter valued at about $627,000. Transcend Capital Advisors LLC increased its position in Sysco by 16.1% during the 4th quarter. Transcend Capital Advisors LLC now owns 5,466 shares of the company’s stock valued at $418,000 after purchasing an additional 758 shares during the period. Finally, Boston Financial Mangement LLC increased its position in Sysco by 35.3% during the 4th quarter. Boston Financial Mangement LLC now owns 13,427 shares of the company’s stock valued at $1,027,000 after purchasing an additional 3,500 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Up 1.1 %

SYY stock opened at $74.49 on Wednesday. The firm has a 50 day moving average of $73.78 and a 200 day moving average of $75.66. The stock has a market capitalization of $36.44 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.33.

Sysco (NYSE:SYY) last released 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 net margin of 2.40% and a return on equity of 106.30%. During the same period in the previous year, the firm posted $0.89 earnings per share. Sell-side analysts forecast that Sysco Co. will post 4.58 earnings per share for the current year.

Analyst Ratings Changes

SYY has been the topic of a number of research reports. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Melius assumed coverage on shares of Sysco in a research report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective on the stock. Guggenheim reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Sysco in a research report on Wednesday, January 29th. Jefferies Financial Group lifted their price objective on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, Wells Fargo & Company cut their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.38.

Insider Buying and Selling at Sysco

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

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.