By otakuyassine3@gmail.com 
World Investment Advisors LLC acquired a new stake in shares of Sysco Co. (NYSE:SYY – Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,811 shares of the company’s stock, valued at approximately $610,000.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Plimoth Trust Co. LLC grew its holdings in Sysco by 0.6% in the 2nd quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock worth $1,610,000 after buying an additional 139 shares in the last quarter. Koshinski Asset Management Inc. grew its stake in shares of Sysco by 3.1% in the third quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock worth $383,000 after purchasing an additional 146 shares in the last quarter. Powers Advisory Group LLC raised its stake in shares of Sysco by 1.6% during the second quarter. Powers Advisory Group LLC now owns 9,555 shares of the company’s stock valued at $682,000 after purchasing an additional 149 shares in the last quarter. Cable Hill Partners LLC lifted its holdings in Sysco by 3.9% in the third quarter. Cable Hill Partners LLC now owns 4,049 shares of the company’s stock worth $316,000 after purchasing an additional 152 shares during the period. Finally, Arrow Financial Corp grew its position in Sysco by 0.8% in the 2nd quarter. Arrow Financial Corp now owns 19,993 shares of the company’s stock valued at $1,427,000 after buying an additional 155 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $75.10, for a total transaction of $303,103.60. Following the sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,638,670.10. The trade was a 7.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Sheila Talton sold 2,900 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the transaction, the director now directly owns 12,955 shares of the company’s stock, valued at $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,279 shares of company stock worth $2,786,971. 0.54% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. increased their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Wells Fargo & Company cut their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Finally, Jefferies Financial Group raised their target price on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $86.00.
View Our Latest Stock Report on SYY
Sysco Stock Down 0.9 %
Shares of Sysco stock opened at $79.25 on Tuesday. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.89. The business has a fifty day simple moving average of $76.49 and a 200 day simple moving average of $75.27. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The stock has a market cap of $38.93 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 2.10 and a beta of 1.19.
Sysco (NYSE:SYY – Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (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% on a year-over-year basis. During the same period last year, the firm earned $1.07 EPS. Research analysts predict that Sysco Co. will post 4.57 EPS for the current year.
Sysco Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be given a dividend of $0.51 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.57%. Sysco’s dividend payout ratio is currently 52.44%.
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.
Further Reading
Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sysco Co. (NYSE:SYY – Free Report).
Receive News & Ratings for Sysco Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Sysco and related companies with MarketBeat.com’s FREE daily email newsletter.