SYSCO Co. (SYY) Position Cut by Spearhead Capital Advisors LLC
Spearhead Capital Advisors LLC reduced its holdings in shares of SYSCO Co. (NYSE:SYY) by 3.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,570 shares of the company’s stock after selling 1,904 shares during the period. SYSCO makes up 1.4% of Spearhead Capital Advisors LLC’s holdings, making the stock its 26th largest position. Spearhead Capital Advisors LLC’s holdings in SYSCO were worth $3,294,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Focused Wealth Management Inc increased its holdings in shares of SYSCO by 244.1% in the fourth quarter. Focused Wealth Management Inc now owns 468 shares of the company’s stock valued at $29,000 after purchasing an additional 332 shares during the period. Financial Gravity Companies Inc. acquired a new position in shares of SYSCO in the fourth quarter valued at about $51,000. We Are One Seven LLC acquired a new position in shares of SYSCO in the fourth quarter valued at about $50,000. Enlightenment Research LLC acquired a new position in shares of SYSCO in the fourth quarter valued at about $61,000. Finally, Signet Investment Advisory Group Inc. acquired a new position in shares of SYSCO in the fourth quarter valued at about $78,000. 80.93% of the stock is currently owned by institutional investors.
A number of brokerages have recently weighed in on SYY. Zacks Investment Research raised SYSCO from a “sell” rating to a “hold” rating in a report on Wednesday, February 6th. Loop Capital set a $75.00 price objective on SYSCO and gave the company a “buy” rating in a report on Tuesday, February 5th. Pivotal Research reissued a “sell” rating and issued a $54.00 price objective on shares of SYSCO in a report on Friday, February 1st. Finally, Bank of America lowered SYSCO from a “buy” rating to a “neutral” rating and set a $68.00 price objective on the stock. in a report on Wednesday, January 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $72.92.
SYSCO (NYSE:SYY) last issued its earnings results on Monday, February 4th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. SYSCO had a return on equity of 71.45% and a net margin of 2.48%. The firm had revenue of $14.80 billion for the quarter, compared to the consensus estimate of $14.75 billion. During the same quarter in the prior year, the business earned $0.78 earnings per share. The company’s revenue was up 2.8% compared to the same quarter last year. As a group, equities analysts anticipate that SYSCO Co. will post 3.4 EPS for the current fiscal year.
In other news, EVP Robert S. Charlton sold 22,321 shares of the company’s stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $65.83, for a total value of $1,469,391.43. Following the sale, the executive vice president now owns 61,460 shares in the company, valued at $4,045,911.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Trian Fund Management, L.P. sold 2,215,532 shares of the stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $66.45, for a total value of $147,222,101.40. Following the transaction, the director now owns 7,055 shares in the company, valued at approximately $468,804.75. The disclosure for this sale can be found here. Insiders sold 3,822,484 shares of company stock worth $253,882,971 in the last 90 days. Company insiders own 7.88% of the company’s stock.
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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