Handelsbanken Fonder AB Grows Stock Holdings in Sysco Co. (NYSE:SYY)

Handelsbanken Fonder AB raised its stake in shares of Sysco Co. (NYSE:SYY) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 295,180 shares of the company’s stock after acquiring an additional 9,485 shares during the period. Handelsbanken Fonder AB’s holdings in Sysco were worth $22,569,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SYY. Ashton Thomas Securities LLC acquired a new position in shares of Sysco in the third quarter valued at approximately $26,000. Valley Wealth Managers Inc. purchased a new position in Sysco in the 3rd quarter valued at $31,000. Stonebridge Financial Group LLC acquired a new position in Sysco in the 4th quarter valued at $31,000. Focused Wealth Management Inc purchased a new position in Sysco during the 3rd quarter worth $37,000. Finally, Canoe Financial LP acquired a new stake in shares of Sysco in the 3rd quarter worth $38,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 21,844 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $1,747,520.00. Following the transaction, the executive vice president now directly owns 60,581 shares in the company, valued at approximately $4,846,480. This represents a 26.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Eve M. Mcfadden sold 6,499 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the sale, the senior vice president now directly owns 48,451 shares in the company, valued at $3,876,080. This represents a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,370 shares of company stock worth $5,965,519. 0.54% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SYY shares. Jefferies Financial Group boosted their price target on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. UBS Group dropped their target price on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Guggenheim reissued a “buy” rating and set a $85.00 target price on shares of Sysco in a research note on Wednesday, January 29th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company cut their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $84.38.

Sysco Price Performance

Sysco stock opened at $71.12 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The firm’s 50-day simple moving average is $74.10 and its 200 day simple moving average is $75.69. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.33. The firm has a market capitalization of $34.79 billion, a PE ratio of 18.28, a P/E/G ratio of 1.85 and a beta of 1.17.

Sysco (NYSE:SYY) last released 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 net margin of 2.40% and a return on equity of 106.30%. During the same period last 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.

About Sysco

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.