Focus Financial Network Inc. Cuts Stock Holdings in Sysco Co. (NYSE:SYY)

Focus Financial Network Inc. lessened its holdings in Sysco Co. (NYSE:SYY) by 24.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,773 shares of the company’s stock after selling 1,195 shares during the quarter. Focus Financial Network Inc.’s holdings in Sysco were worth $289,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AMF Tjanstepension AB increased its holdings in shares of Sysco by 185.5% in the 3rd quarter. AMF Tjanstepension AB now owns 31,332 shares of the company’s stock valued at $2,446,000 after purchasing an additional 20,356 shares in the last quarter. Creative Planning raised its position in Sysco by 3.6% during the third quarter. Creative Planning now owns 196,876 shares of the company’s stock worth $15,368,000 after acquiring an additional 6,814 shares during the last quarter. Vontobel Holding Ltd. increased its stake in shares of Sysco by 0.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 50,126 shares of the company’s stock worth $3,913,000 after purchasing an additional 218 shares in the last quarter. Cornerstone Wealth Management LLC increased its position in Sysco by 3.6% during the third quarter. Cornerstone Wealth Management LLC now owns 9,540 shares of the company’s stock worth $745,000 after buying an additional 331 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Sysco by 9.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 61,139 shares of the company’s stock valued at $4,773,000 after buying an additional 5,213 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Price Performance

Shares of NYSE:SYY opened at $71.10 on Friday. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The stock has a market capitalization of $34.78 billion, a P/E ratio of 18.28, a P/E/G ratio of 1.88 and a beta of 1.17. The business has a 50-day moving average of $75.07 and a two-hundred day moving average of $75.86. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.33.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the prior year, the firm earned $0.89 EPS. On average, equities research analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SYY has been the topic of several recent analyst reports. Melius started coverage on shares of Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective on the stock. Guggenheim reiterated a “buy” rating and issued a $85.00 price target on shares of Sysco in a research note on Wednesday, January 29th. Jefferies Financial Group increased their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Melius Research raised shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Finally, Morgan Stanley reduced their price objective on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and an average price target of $84.38.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the sale, the executive vice president now directly owns 56,304 shares in the company, valued at $4,335,408. This trade represents a 46.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the transaction, the director now directly owns 12,955 shares of the company’s stock, valued at $966,831.65. This represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,270 shares of company stock worth $6,181,946 over the last ninety days. Company 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.