Sysco Co. (NYSE:SYY) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC increased its stake in shares of Sysco Co. (NYSE:SYY) by 29.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 78,333 shares of the company’s stock after purchasing an additional 17,587 shares during the period. Empowered Funds LLC’s holdings in Sysco were worth $6,115,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Research Global Investors grew its holdings in Sysco by 112.8% during the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock valued at $536,770,000 after purchasing an additional 3,504,740 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Sysco by 103.0% during the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock valued at $338,830,000 after acquiring an additional 2,408,226 shares in the last quarter. Swedbank AB purchased a new stake in shares of Sysco during the first quarter worth about $178,824,000. Diamond Hill Capital Management Inc. boosted its holdings in Sysco by 49.8% in the second quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock valued at $429,240,000 after purchasing an additional 1,997,895 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Sysco by 26.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock valued at $615,076,000 after purchasing an additional 1,782,180 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Activity at Sysco

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the company’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 transaction, the senior vice president now owns 48,451 shares in the company, valued at $3,638,670.10. This represents a 7.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on SYY shares. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. 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 research report on Monday, September 16th. Wells Fargo & Company reduced their price target 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. Barclays boosted their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Jefferies Financial Group lifted their target price on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $85.77.

Sysco Stock Performance

Shares of NYSE SYY opened at $74.95 on Friday. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.89. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The company has a market cap of $36.82 billion, a PE ratio of 19.27, a P/E/G ratio of 1.97 and a beta of 1.20. The stock has a 50 day simple moving average of $75.93 and a 200-day simple moving average of $74.73.

Sysco (NYSE:SYY) last announced its quarterly 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). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The business had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. During the same quarter in the prior year, the business earned $1.07 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities research analysts forecast that Sysco Co. will post 4.57 EPS for the current year.

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.