Concurrent Investment Advisors LLC Has $2.13 Million Holdings in Sysco Co. (NYSE:SYY)

Concurrent Investment Advisors LLC raised its holdings in Sysco Co. (NYSE:SYY) by 18.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,819 shares of the company’s stock after buying an additional 4,356 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Sysco were worth $2,127,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Handelsbanken Fonder AB raised its holdings in shares of Sysco by 3.3% in the 4th quarter. Handelsbanken Fonder AB now owns 295,180 shares of the company’s stock valued at $22,569,000 after acquiring an additional 9,485 shares in the last quarter. LMG Wealth Partners LLC increased its stake in Sysco by 1.7% in the 4th quarter. LMG Wealth Partners LLC now owns 58,330 shares of the company’s stock worth $4,460,000 after purchasing an additional 1,000 shares during the period. Private Advisor Group LLC increased its stake in Sysco by 20.1% in the 4th quarter. Private Advisor Group LLC now owns 45,722 shares of the company’s stock worth $3,496,000 after purchasing an additional 7,640 shares during the period. Werba Rubin Papier Wealth Management purchased a new position in Sysco in the 4th quarter worth approximately $225,000. Finally, Bigelow Investment Advisors LLC increased its stake in Sysco by 12.4% in the 4th quarter. Bigelow Investment Advisors LLC now owns 5,909 shares of the company’s stock worth $452,000 after purchasing an additional 650 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of SYY opened at $73.22 on Friday. The stock has a market cap of $35.82 billion, a P/E ratio of 18.82, a P/E/G ratio of 1.87 and a beta of 1.17. The stock has a 50-day moving average of $73.96 and a two-hundred day moving average of $75.68. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. Sysco Co. has a one year low of $69.03 and a one year high of $82.33.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share 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 period last year, the firm posted $0.89 earnings per share. As a group, research analysts predict that Sysco Co. will post 4.58 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SYY shares. Guggenheim reissued a “buy” rating and set a $85.00 target price on shares of Sysco in a research note on Wednesday, January 29th. Wells Fargo & Company dropped their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Melius Research raised Sysco to a “hold” rating in a report on Wednesday, December 18th. Truist Financial lowered their price target on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, Melius started coverage on Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $84.38.

Insider Transactions at Sysco

In other Sysco news, 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 transaction, the senior vice president now owns 48,451 shares of the company’s stock, valued at approximately $3,876,080. This trade represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the transaction, the executive vice president now directly owns 56,304 shares in the company, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,370 shares of company stock worth $5,965,519 in the last ninety days. 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.