Sysco Co. (NYSE:SYY) Shares Acquired by Independent Advisor Alliance

Independent Advisor Alliance increased its stake in shares of Sysco Co. (NYSE:SYY) by 1.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,331 shares of the company’s stock after purchasing an additional 201 shares during the quarter. Independent Advisor Alliance’s holdings in Sysco were worth $1,509,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SYY. Plimoth Trust Co. LLC raised its holdings in Sysco by 0.6% during the second quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock worth $1,610,000 after purchasing an additional 139 shares in the last quarter. Koshinski Asset Management Inc. increased its position in Sysco by 3.1% during the 3rd quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock worth $383,000 after purchasing an additional 146 shares during the period. Powers Advisory Group LLC raised its stake in shares of Sysco by 1.6% during the 2nd quarter. Powers Advisory Group LLC now owns 9,555 shares of the company’s stock worth $682,000 after buying an additional 149 shares in the last quarter. Cable Hill Partners LLC lifted its holdings in shares of Sysco by 3.9% in the 3rd quarter. Cable Hill Partners LLC now owns 4,049 shares of the company’s stock valued at $316,000 after buying an additional 152 shares during the period. Finally, Arrow Financial Corp grew its holdings in Sysco by 0.8% during the second quarter. Arrow Financial Corp now owns 19,993 shares of the company’s stock worth $1,427,000 after acquiring an additional 155 shares during the period. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Trading Down 0.6 %

NYSE SYY opened at $76.39 on Wednesday. The firm has a market capitalization of $37.52 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 2.02 and a beta of 1.20. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. Sysco Co. has a one year low of $69.03 and a one year high of $82.89. The company’s 50 day moving average price is $75.65 and its 200 day moving average price is $74.75.

Sysco (NYSE:SYY) last issued 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). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The business had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.47 billion. During the same period in the prior year, the business posted $1.07 EPS. The business’s revenue was up 4.4% on a year-over-year basis. On average, sell-side analysts predict that Sysco Co. will post 4.57 EPS for the current year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Friday, January 3rd. Sysco’s payout ratio is 52.44%.

Insider Activity

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the sale, the senior vice president now directly owns 48,451 shares in the company, valued at $3,638,670.10. This trade represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the transaction, the director now owns 12,955 shares in the company, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on SYY. Wells Fargo & Company reduced their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Barclays increased their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. increased their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Jefferies Financial Group lifted their price target on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and an average target price of $85.77.

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.