Pinnacle Financial Partners Inc Lowers Stock Holdings in Sysco Co. (NYSE:SYY)

Pinnacle Financial Partners Inc cut its holdings in shares of Sysco Co. (NYSE:SYY) by 9.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,591 shares of the company’s stock after selling 1,682 shares during the period. Pinnacle Financial Partners Inc’s holdings in Sysco were worth $1,217,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. National Pension Service increased its stake in Sysco by 15.6% during the 3rd quarter. National Pension Service now owns 1,237,017 shares of the company’s stock worth $96,562,000 after buying an additional 166,798 shares during the period. ORG Partners LLC grew its stake in shares of Sysco by 3,159.0% in the second quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock worth $495,000 after acquiring an additional 6,855 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of Sysco by 11.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after acquiring an additional 672,940 shares during the period. Mizuho Markets Americas LLC raised its stake in shares of Sysco by 102.1% in the first quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock valued at $11,355,000 after acquiring an additional 70,660 shares in the last quarter. Finally, Wedge Capital Management L L P NC boosted its holdings in Sysco by 11.6% in the second quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock valued at $12,577,000 after purchasing an additional 18,296 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Buying and Selling

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at approximately $3,638,670.10. This trade represents a 7.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Sysco Trading Down 2.2 %

SYY opened at $74.96 on Friday. 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 Co. has a 52 week low of $69.03 and a 52 week high of $82.89. The business’s 50 day moving average is $76.08 and its two-hundred day moving average is $74.74. 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 2.01 and a beta of 1.20.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 EPS 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 business had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.47 billion. During the same quarter last year, the company earned $1.07 EPS. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, research analysts predict that Sysco Co. will post 4.57 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.