New England Asset Management Inc. Acquires 14,810 Shares of Sysco Co. (NYSE:SYY)

New England Asset Management Inc. boosted its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 12.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 131,360 shares of the company's stock after buying an additional 14,810 shares during the quarter. Sysco makes up approximately 1.6% of New England Asset Management Inc.'s investment portfolio, making the stock its 11th largest position. New England Asset Management Inc.'s holdings in Sysco were worth $10,254,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. TruNorth Capital Management LLC bought a new position in Sysco in the 2nd quarter valued at about $25,000. Armstrong Advisory Group Inc. increased its stake in shares of Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company's stock worth $26,000 after purchasing an additional 310 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Sysco during the 3rd quarter worth approximately $26,000. Valley Wealth Managers Inc. bought a new stake in Sysco in the 3rd quarter valued at $31,000. Finally, Focused Wealth Management Inc acquired a new position in Sysco in the 3rd quarter valued at $37,000. Institutional investors own 83.41% of the company's stock.

Sysco Price Performance

Shares of SYY stock opened at $75.76 on Tuesday. The business has a fifty day simple moving average of $75.87 and a 200 day simple moving average of $74.75. The company 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.

Sysco (NYSE:SYY - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.13 by ($0.04). The company had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. The firm's revenue was up 4.4% compared to the same quarter last year. During the same period last year, the company posted $1.07 EPS. On average, sell-side analysts forecast that Sysco Co. will post 4.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SYY shares. Barclays lifted their target price on 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. Wells Fargo & Company decreased their target price on shares of Sysco from $87.00 to $82.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their price target on shares of Sysco from $91.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. increased their price target on Sysco from $85.00 to $88.00 and gave the stock an "overweight" rating in a research report on Monday, September 16th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Sysco currently has an average rating of "Moderate Buy" and an average target price of $85.77.

Insiders Place Their Bets

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction 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 directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. This represents a 7.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.