Keybank National Association OH Sells 7,946 Shares of SYSCO Co. (SYY)

Keybank National Association OH lessened its stake in shares of SYSCO Co. (NYSE:SYY) by 15.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 44,137 shares of the company’s stock after selling 7,946 shares during the period. Keybank National Association OH’s holdings in SYSCO were worth $2,680,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Parnassus Investments CA boosted its holdings in shares of SYSCO by 20.3% in the 3rd quarter. Parnassus Investments CA now owns 7,410,401 shares of the company’s stock valued at $399,791,000 after purchasing an additional 1,250,005 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of SYSCO by 21.1% in the 3rd quarter. American Century Companies Inc. now owns 6,120,917 shares of the company’s stock valued at $330,223,000 after purchasing an additional 1,065,987 shares in the last quarter. Miller Howard Investments Inc. NY acquired a new stake in shares of SYSCO in the 4th quarter valued at $60,798,000. Victory Capital Management Inc. boosted its holdings in shares of SYSCO by 18.5% in the 3rd quarter. Victory Capital Management Inc. now owns 3,458,745 shares of the company’s stock valued at $186,599,000 after purchasing an additional 541,100 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its holdings in shares of SYSCO by 126.1% in the 4th quarter. Retirement Systems of Alabama now owns 532,810 shares of the company’s stock valued at $32,358,000 after purchasing an additional 297,195 shares in the last quarter. Hedge funds and other institutional investors own 79.35% of the company’s stock.

SYY has been the topic of a number of research analyst reports. Bank of America raised their target price on SYSCO from $68.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Loop Capital reduced their target price on SYSCO from $72.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. Pivotal Research reduced their target price on SYSCO from $68.00 to $61.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. BMO Capital Markets set a $66.00 price objective on SYSCO and gave the company a “buy” rating in a report on Friday, December 8th. Finally, Morgan Stanley raised SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 price objective on the stock in a report on Tuesday, January 16th. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $65.20.

In other SYSCO news, EVP Wayne Shurts sold 7,800 shares of SYSCO stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $61.76, for a total transaction of $481,728.00. Following the transaction, the executive vice president now directly owns 55,235 shares of the company’s stock, valued at approximately $3,411,313.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Greg D. Bertrand sold 81,038 shares of SYSCO stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $60.76, for a total value of $4,923,868.88. Following the transaction, the senior vice president now directly owns 69,721 shares in the company, valued at $4,236,247.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 144,695 shares of company stock worth $8,759,223. 9.60% of the stock is currently owned by company insiders.

Shares of SYSCO Co. (NYSE:SYY) opened at $60.00 on Monday. The company has a current ratio of 1.38, a quick ratio of 0.85 and a debt-to-equity ratio of 3.66. SYSCO Co. has a twelve month low of $48.85 and a twelve month high of $64.27. The firm has a market capitalization of $31,260.00, a price-to-earnings ratio of 26.91, a P/E/G ratio of 2.01 and a beta of 0.56.

SYSCO (NYSE:SYY) last released its quarterly earnings data on Monday, February 5th. The company reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. SYSCO had a return on equity of 61.02% and a net margin of 2.10%. The company had revenue of $14.41 billion for the quarter, compared to the consensus estimate of $14.15 billion. During the same quarter last year, the business posted $0.58 EPS. SYSCO’s revenue for the quarter was up 7.1% on a year-over-year basis. research analysts forecast that SYSCO Co. will post 2.95 earnings per share for the current year.

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SYSCO Profile

Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.

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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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