Parnassus Investments LLC Has $655.19 Million Stake in Sysco Co. (NYSE:SYY)

Parnassus Investments LLC decreased its holdings in Sysco Co. (NYSE:SYY) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,393,368 shares of the company’s stock after selling 206,649 shares during the quarter. Parnassus Investments LLC owned approximately 1.71% of Sysco worth $655,186,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Armstrong Advisory Group Inc. raised its position in Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after purchasing an additional 310 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in Sysco in the 3rd quarter valued at $26,000. TruNorth Capital Management LLC bought a new position in Sysco in the 2nd quarter valued at $25,000. Valley Wealth Managers Inc. bought a new position in Sysco in the 3rd quarter valued at $31,000. Finally, Focused Wealth Management Inc bought a new position in Sysco in the 3rd quarter valued at $37,000. Institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the business’s stock in a transaction dated 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 approximately $3,638,670.10. The trade was a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.54% of the company’s stock.

Sysco Stock Up 1.1 %

Shares of Sysco stock opened at $75.76 on Tuesday. 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 12 month low of $69.03 and a 12 month high of $82.89. The business has a fifty day simple moving average of $75.87 and a 200 day simple moving average of $74.75. The stock has a market cap of $37.22 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 1.97 and a beta of 1.20.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $20.47 billion. During the same period in the previous year, the firm posted $1.07 earnings per share. The firm’s revenue was up 4.4% on a year-over-year basis. Research analysts predict that Sysco Co. will post 4.57 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.