Islay Capital Management LLC Purchases Shares of 17,064 Sysco Co. (NYSE:SYY)

Islay Capital Management LLC purchased a new stake in Sysco Co. (NYSE:SYY - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 17,064 shares of the company's stock, valued at approximately $1,332,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. TruNorth Capital Management LLC bought a new position in shares of Sysco in the 2nd quarter valued at about $25,000. Armstrong Advisory Group Inc. grew its position in shares of 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 acquiring an additional 310 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Sysco in the 3rd quarter valued at about $26,000. Valley Wealth Managers Inc. bought a new position in shares of Sysco in the 3rd quarter valued at about $31,000. Finally, Focused Wealth Management Inc bought a new position in shares of Sysco in the 3rd quarter valued at about $37,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the company's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at $3,638,670.10. This represents a 7.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is owned by corporate insiders.

Sysco Price Performance

Shares of NYSE:SYY traded up $0.81 during midday trading on Monday, hitting $75.76. The stock had a trading volume of 2,877,096 shares, compared to its average volume of 3,155,801. The company's 50-day moving average price is $75.87 and its 200-day moving average price is $74.75. The company has a market capitalization of $37.22 billion, a P/E ratio of 19.48, a price-to-earnings-growth 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 fifty-two week low of $69.03 and a fifty-two week high of $82.89.

Sysco (NYSE:SYY - Get Free Report) last issued its 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). The firm had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. Sysco's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.07 earnings per share. As a group, equities research analysts predict that Sysco Co. will post 4.57 EPS for the current fiscal year.

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.