Investors purchased shares of SYSCO Co. (NYSE:SYY) on weakness during trading hours on Tuesday following a weaker than expected earnings announcement. $68.20 million flowed into the stock on the tick-up and $38.23 million flowed out of the stock on the tick-down, for a money net flow of $29.97 million into the stock. Of all stocks tracked, SYSCO had the 19th highest net in-flow for the day. SYSCO traded down ($0.11) for the day and closed at $64.45The company reported $0.91 EPS for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.01). The business had revenue of $15.22 billion during the quarter, compared to analysts’ expectations of $15.39 billion. SYSCO had a net margin of 2.44% and a return on equity of 68.15%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 earnings per share.

A number of brokerages have recently issued reports on SYY. ValuEngine lowered SYSCO from a “buy” rating to a “hold” rating in a research note on Tuesday. Royal Bank of Canada lowered their price target on SYSCO from $67.00 to $65.00 and set a “sector perform” rating on the stock in a research note on Tuesday. Loop Capital lowered their price target on SYSCO to $75.00 and set a “buy” rating on the stock in a research note on Tuesday. They noted that the move was a valuation call. Jefferies Financial Group set a $68.00 price target on SYSCO and gave the stock a “hold” rating in a research note on Monday, August 13th. Finally, BMO Capital Markets lowered their price objective on SYSCO from $81.00 to $79.00 and set a “buy” rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $73.15.

In other news, SVP Brian R. Todd sold 9,147 shares of the company’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $73.82, for a total value of $675,231.54. Following the transaction, the senior vice president now owns 11,747 shares of the company’s stock, valued at approximately $867,163.54. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard G. Tilghman sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $73.82, for a total value of $369,100.00. Following the completion of the transaction, the director now directly owns 66,137 shares in the company, valued at approximately $4,882,233.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,969,811 shares of company stock worth $297,370,093. Corporate insiders own 7.88% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Bank of America Corp DE raised its holdings in shares of SYSCO by 64.6% in the 2nd quarter. Bank of America Corp DE now owns 17,662,742 shares of the company’s stock valued at $1,206,188,000 after buying an additional 6,929,805 shares during the period. Janus Henderson Group PLC raised its holdings in shares of SYSCO by 1.2% in the 2nd quarter. Janus Henderson Group PLC now owns 5,903,214 shares of the company’s stock valued at $403,131,000 after buying an additional 68,148 shares during the period. Bank of Montreal Can raised its holdings in shares of SYSCO by 14.9% in the 2nd quarter. Bank of Montreal Can now owns 4,552,341 shares of the company’s stock valued at $310,878,000 after buying an additional 590,410 shares during the period. Victory Capital Management Inc. raised its holdings in shares of SYSCO by 2.1% in the 2nd quarter. Victory Capital Management Inc. now owns 4,131,297 shares of the company’s stock valued at $282,126,000 after buying an additional 86,450 shares during the period. Finally, Morgan Stanley raised its holdings in shares of SYSCO by 83.0% in the 2nd quarter. Morgan Stanley now owns 3,896,733 shares of the company’s stock valued at $266,109,000 after buying an additional 1,767,298 shares during the period. 80.11% of the stock is currently owned by institutional investors and hedge funds.

The company has a quick ratio of 0.74, a current ratio of 1.21 and a debt-to-equity ratio of 3.01. The firm has a market capitalization of $37.12 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 1.93 and a beta of 0.56.

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SYSCO Company Profile (NYSE:SYY)

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.

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