Sysco Co. (NYSE:SYY) Shares Sold by NFJ Investment Group LLC

NFJ Investment Group LLC cut its holdings in shares of Sysco Co. (NYSE:SYY) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,679 shares of the company’s stock after selling 492 shares during the period. NFJ Investment Group LLC’s holdings in Sysco were worth $2,629,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. National Pension Service boosted its stake in shares of Sysco by 15.6% during the 3rd quarter. National Pension Service now owns 1,237,017 shares of the company’s stock worth $96,562,000 after acquiring an additional 166,798 shares in the last quarter. New England Asset Management Inc. lifted its holdings in shares of Sysco by 12.7% during the third quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock valued at $10,254,000 after purchasing an additional 14,810 shares during the last quarter. ORG Partners LLC boosted its position in shares of Sysco by 3,159.0% in the 2nd quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock valued at $495,000 after purchasing an additional 6,855 shares during the period. Empowered Funds LLC increased its stake in Sysco by 29.0% in the 3rd quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock worth $6,115,000 after purchasing an additional 17,587 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. raised its holdings in Sysco by 11.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after buying an additional 672,940 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Sysco

In related news, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction 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 owns 12,955 shares in the company, valued at $966,831.65. This trade represents a 18.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction dated 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 owns 48,451 shares in the company, valued at $3,638,670.10. The trade was a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on SYY. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. JPMorgan Chase & Co. raised their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Jefferies Financial Group boosted their target price on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, Wells Fargo & Company decreased their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $85.77.

Sysco Stock Performance

Shares of SYY stock opened at $79.53 on Wednesday. The firm has a market cap of $39.07 billion, a P/E ratio of 20.44, a PEG ratio of 2.00 and a beta of 1.19. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.89. The stock’s 50-day moving average is $75.85 and its two-hundred day moving average is $74.80.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.04). The business had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. Sysco’s revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.07 EPS. Analysts predict that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s payout ratio is 52.44%.

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.