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

Parnassus Investments LLC reduced its position in shares of Sysco Co. (NYSE:SYY) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,393,368 shares of the company’s stock after selling 206,649 shares during the period. Parnassus Investments LLC’s holdings in Sysco were worth $655,186,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. National Pension Service boosted its position in shares of Sysco by 15.6% during the third 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 boosted its position in shares of Sysco by 3,159.0% during the second quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock worth $495,000 after buying an additional 6,855 shares during the period. Diamond Hill Capital Management Inc. boosted 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 buying an additional 672,940 shares during the period. Empowered Funds LLC raised its holdings in Sysco by 29.0% during the third quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock worth $6,115,000 after acquiring an additional 17,587 shares in the last quarter. Finally, Wedge Capital Management L L P NC boosted its position in Sysco by 11.6% during 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 last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Sysco

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction that occurred on 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 owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.54% of the company’s stock.

Sysco Stock Up 1.1 %

Sysco stock opened at $75.76 on Tuesday. The stock has a market cap of $37.22 billion, a P/E ratio of 19.48, a P/E/G ratio of 1.97 and a beta of 1.20. 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 twelve month low of $69.03 and a twelve month high of $82.89. The company’s 50-day moving average price is $75.87 and its two-hundred day moving average price is $74.75.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share 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 company had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. During the same period in the prior year, the company earned $1.07 earnings per share. The firm’s revenue was up 4.4% compared to the same quarter last year. As a group, analysts expect that Sysco Co. will post 4.57 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SYY. Barclays boosted their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. Jefferies Financial Group boosted their price objective on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Finally, Wells Fargo & Company dropped their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.77.

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.