First Business Financial Services Inc. Increases Stock Holdings in SYSCO Co. (NYSE:SYY)

First Business Financial Services Inc. lifted its stake in shares of SYSCO Co. (NYSE:SYY) by 6.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,882 shares of the company’s stock after buying an additional 670 shares during the quarter. First Business Financial Services Inc.’s holdings in SYSCO were worth $943,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in SYY. Taylor Hoffman Wealth Management increased its holdings in SYSCO by 6.8% during the 3rd quarter. Taylor Hoffman Wealth Management now owns 15,305 shares of the company’s stock worth $1,215,000 after purchasing an additional 972 shares during the last quarter. Lavaca Capital LLC acquired a new position in shares of SYSCO in the 3rd quarter worth approximately $221,000. Opus Capital Group LLC grew its position in shares of SYSCO by 40.5% in the 3rd quarter. Opus Capital Group LLC now owns 4,833 shares of the company’s stock worth $384,000 after acquiring an additional 1,392 shares in the last quarter. Lakeview Capital Partners LLC grew its position in shares of SYSCO by 7.2% in the 3rd quarter. Lakeview Capital Partners LLC now owns 4,942 shares of the company’s stock worth $392,000 after acquiring an additional 330 shares in the last quarter. Finally, Alps Advisors Inc. acquired a new position in shares of SYSCO in the 3rd quarter worth approximately $370,000. Institutional investors and hedge funds own 78.62% of the company’s stock.

NYSE:SYY traded down $0.50 during midday trading on Friday, reaching $80.40. 1,736,330 shares of the company traded hands, compared to its average volume of 2,745,985. SYSCO Co. has a twelve month low of $59.44 and a twelve month high of $81.60. The firm has a market capitalization of $41.00 billion, a price-to-earnings ratio of 22.65, a price-to-earnings-growth ratio of 2.24 and a beta of 0.48. The company has a debt-to-equity ratio of 3.74, a current ratio of 1.39 and a quick ratio of 0.81. The company has a fifty day moving average price of $79.14 and a 200 day moving average price of $74.07.

SYSCO (NYSE:SYY) last released its quarterly earnings data on Monday, November 4th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.01. SYSCO had a return on equity of 79.60% and a net margin of 2.82%. The business had revenue of $15.30 billion during the quarter, compared to analyst estimates of $15.53 billion. During the same quarter in the previous year, the firm posted $0.91 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities research analysts forecast that SYSCO Co. will post 3.83 earnings per share for the current fiscal year.

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Several research analysts have recently commented on SYY shares. Consumer Edge started coverage on SYSCO in a research report on Wednesday, July 17th. They issued an “underweight” rating and a $71.75 target price for the company. JPMorgan Chase & Co. lifted their target price on SYSCO from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Bank of America lifted their target price on SYSCO from $76.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Credit Suisse Group lifted their target price on SYSCO from $79.00 to $89.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Finally, BMO Capital Markets lifted their target price on SYSCO to $88.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. SYSCO currently has a consensus rating of “Hold” and a consensus target price of $77.40.

In other SYSCO news, SVP Brian R. Todd sold 14,706 shares of SYSCO stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $78.99, for a total transaction of $1,161,626.94. Following the sale, the senior vice president now owns 30,273 shares of the company’s stock, valued at approximately $2,391,264.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Greg D. Bertrand sold 25,000 shares of SYSCO stock in a transaction on Friday, November 1st. The shares were sold at an average price of $81.06, for a total value of $2,026,500.00. Following the sale, the executive vice president now directly owns 54,879 shares in the company, valued at approximately $4,448,491.74. The disclosure for this sale can be found here. Insiders have sold a total of 182,277 shares of company stock valued at $14,357,991 in the last 90 days. Insiders own 5.24% of the company’s stock.

About SYSCO

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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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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