OVERSEA CHINESE BANKING Corp Ltd Invests $227,000 in Sysco Co. (NYSE:SYY)

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Sysco Co. (NYSE:SYY) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,907 shares of the company’s stock, valued at approximately $227,000.

A number of other large investors also recently bought and sold shares of the business. TruNorth Capital Management LLC purchased a new stake in shares of Sysco during the second quarter valued at about $25,000. Armstrong Advisory Group Inc. raised its stake in shares of Sysco by 1,240.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after acquiring an additional 310 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Sysco during the third quarter valued at approximately $26,000. Focused Wealth Management Inc acquired a new stake in Sysco in the third quarter valued at approximately $37,000. Finally, Fairscale Capital LLC purchased a new position in Sysco in the second quarter worth $38,000. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Down 2.2 %

Sysco stock opened at $74.96 on Friday. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.89. The firm has a market cap of $36.82 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20. The business’s 50-day moving average price is $76.08 and its 200 day moving average price is $74.74. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Barclays increased their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. raised their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Bank of America lowered their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, Wells Fargo & Company cut their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and a consensus price target of $85.77.

Insider Transactions 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 completion of the transaction, the senior vice president now owns 48,451 shares in the company, valued at $3,638,670.10. The trade was a 7.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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.