SYSCO Co. (SYY) Position Reduced by Amalgamated Bank

Amalgamated Bank lessened its holdings in SYSCO Co. (NYSE:SYY) by 3.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,070 shares of the company’s stock after selling 2,318 shares during the quarter. Amalgamated Bank’s holdings in SYSCO were worth $5,279,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Jefferies Group LLC boosted its stake in SYSCO by 822.2% in the third quarter. Jefferies Group LLC now owns 130,958 shares of the company’s stock valued at $9,593,000 after acquiring an additional 116,758 shares in the last quarter. Evercore Wealth Management LLC boosted its stake in SYSCO by 11.0% in the third quarter. Evercore Wealth Management LLC now owns 37,780 shares of the company’s stock valued at $2,767,000 after acquiring an additional 3,735 shares in the last quarter. First Republic Investment Management Inc. boosted its stake in SYSCO by 1.3% in the third quarter. First Republic Investment Management Inc. now owns 175,696 shares of the company’s stock valued at $12,870,000 after acquiring an additional 2,187 shares in the last quarter. Renaissance Technologies LLC boosted its stake in SYSCO by 342.2% in the third quarter. Renaissance Technologies LLC now owns 1,977,518 shares of the company’s stock valued at $144,853,000 after acquiring an additional 1,530,318 shares in the last quarter. Finally, Cpwm LLC acquired a new position in SYSCO in the third quarter valued at $207,000. 79.31% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have issued reports on SYY shares. Credit Suisse Group decreased their price objective on shares of SYSCO from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, November 6th. BMO Capital Markets decreased their target price on shares of SYSCO from $81.00 to $79.00 and set a “buy” rating for the company in a research note on Tuesday, November 6th. Loop Capital decreased their target price on shares of SYSCO to $75.00 and set a “buy” rating for the company in a research note on Tuesday, November 6th. They noted that the move was a valuation call. Buckingham Research started coverage on shares of SYSCO in a research note on Monday, October 22nd. They set a “buy” rating and a $82.00 target price for the company. Finally, Argus increased their target price on shares of SYSCO from $67.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, August 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. SYSCO presently has a consensus rating of “Hold” and a consensus price target of $73.54.

In related news, Director Richard G. Tilghman sold 5,000 shares of the stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $73.71, for a total transaction of $368,550.00. Following the completion of the transaction, the director now directly owns 61,137 shares of the company’s stock, valued at $4,506,408.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Trian Fund Management, L.P. sold 1,524,475 shares of the stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $66.50, for a total transaction of $101,377,587.50. Following the transaction, the director now directly owns 7,055 shares of the company’s stock, valued at $469,157.50. The disclosure for this sale can be found here. Insiders have sold 5,870,365 shares of company stock valued at $407,892,121 over the last three months. 7.88% of the stock is currently owned by corporate insiders.

Shares of SYY opened at $65.02 on Monday. SYSCO Co. has a fifty-two week low of $56.01 and a fifty-two week high of $75.98. The stock has a market cap of $33.80 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 1.84 and a beta of 0.54. The company has a debt-to-equity ratio of 3.00, a current ratio of 1.30 and a quick ratio of 0.80.

SYSCO (NYSE:SYY) last announced its earnings results on Monday, November 5th. The company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.01). SYSCO had a return on equity of 68.81% and a net margin of 2.52%. The business had revenue of $15.22 billion for the quarter, compared to analyst estimates of $15.39 billion. During the same quarter last year, the company posted $0.74 EPS. SYSCO’s quarterly revenue was up 3.9% on a year-over-year basis. On average, sell-side analysts anticipate that SYSCO Co. will post 3.4 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 25th. Investors of record on Friday, January 4th will be issued a dividend of $0.39 per share. This is a boost from SYSCO’s previous quarterly dividend of $0.36. This represents a $1.56 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Thursday, January 3rd. SYSCO’s dividend payout ratio is currently 45.86%.

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SYSCO Company Profile

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.

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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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