Assetmark Inc. Buys 193 Shares of Sysco Co. (NYSE:SYY)

Assetmark Inc. raised its stake in Sysco Co. (NYSE:SYY) by 18.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,230 shares of the company’s stock after buying an additional 193 shares during the period. Assetmark Inc.’s holdings in Sysco were worth $96,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Capital World Investors grew its position in shares of Sysco by 17.5% in the 1st quarter. Capital World Investors now owns 10,984,950 shares of the company’s stock valued at $891,758,000 after buying an additional 1,637,232 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Sysco by 26.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock valued at $615,076,000 after purchasing an additional 1,782,180 shares during the period. Capital Research Global Investors lifted its stake in shares of Sysco by 112.8% in the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock valued at $536,770,000 after purchasing an additional 3,504,740 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in shares of Sysco by 49.8% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock valued at $429,240,000 after purchasing an additional 1,997,895 shares during the period. Finally, ProShare Advisors LLC lifted its stake in shares of Sysco by 103.0% in the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock valued at $338,830,000 after purchasing an additional 2,408,226 shares during the period. Institutional investors own 83.41% of the company’s stock.

Insider Activity

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction that occurred on 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 directly owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of recent analyst reports. Barclays boosted their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. upped their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Jefferies Financial Group upped their price target on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company dropped their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $85.77.

Sysco Stock Performance

Shares of SYY opened at $74.95 on Monday. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The stock has a 50 day moving average price of $75.93 and a two-hundred day moving average price of $74.74. The firm has a market capitalization of $36.82 billion, a P/E ratio of 19.27, a P/E/G ratio of 1.97 and a beta of 1.20. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.89.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The company had revenue of $20.48 billion for 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 business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.07 earnings per share. Equities analysts forecast that Sysco Co. will post 4.57 earnings per share 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.