Sysco Co. (NYSE:SYY) Position Lowered by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. reduced its position in Sysco Co. (NYSE:SYY) by 33.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,238 shares of the company’s stock after selling 4,620 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Sysco were worth $721,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. National Pension Service raised its position in shares of Sysco by 15.6% during the 3rd quarter. National Pension Service now owns 1,237,017 shares of the company’s stock valued at $96,562,000 after acquiring an additional 166,798 shares in the last quarter. ORG Partners LLC raised its holdings in shares of Sysco by 3,159.0% during the second quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock worth $495,000 after purchasing an additional 6,855 shares during the period. Diamond Hill Capital Management Inc. lifted its position in shares of Sysco by 11.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after buying an additional 672,940 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in shares of Sysco by 11.6% in the 2nd quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock valued at $12,577,000 after buying an additional 18,296 shares during the period. Finally, Shell Asset Management Co. grew its position in shares of Sysco by 205.0% during the 1st quarter. Shell Asset Management Co. now owns 14,305 shares of the company’s stock valued at $1,161,000 after buying an additional 9,615 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Buying and Selling at Sysco

In related news, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the transaction, the senior vice president now owns 48,451 shares of the company’s stock, valued at approximately $3,638,670.10. This trade represents a 7.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SYY has been the subject of a number of research reports. 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 note on Wednesday, October 30th. Barclays upped their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. Jefferies Financial Group increased their price objective on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $85.77.

Sysco Price Performance

Shares of Sysco stock opened at $74.95 on Friday. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.89. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The stock has a market cap of $36.82 billion, a PE ratio of 19.27, a price-to-earnings-growth ratio of 2.01 and a beta of 1.20. The company’s 50-day moving average price is $76.00 and its two-hundred day moving average price is $74.74.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The business had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.07 earnings per share. As a group, sell-side analysts anticipate that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco 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.