SYSCO Co. (NYSE:SYY) Position Boosted by Gradient Investments LLC

Gradient Investments LLC lifted its stake in shares of SYSCO Co. (NYSE:SYY) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 149,532 shares of the company’s stock after purchasing an additional 779 shares during the period. Gradient Investments LLC’s holdings in SYSCO were worth $11,873,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. 6 Meridian lifted its holdings in SYSCO by 1.8% in the second quarter. 6 Meridian now owns 7,760 shares of the company’s stock worth $549,000 after acquiring an additional 140 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its holdings in SYSCO by 3.4% in the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 4,623 shares of the company’s stock worth $327,000 after acquiring an additional 150 shares during the last quarter. Cornerstone Advisors Inc. lifted its holdings in SYSCO by 27.0% in the second quarter. Cornerstone Advisors Inc. now owns 733 shares of the company’s stock worth $52,000 after acquiring an additional 156 shares during the last quarter. Lynch & Associates IN lifted its holdings in SYSCO by 0.3% in the second quarter. Lynch & Associates IN now owns 60,842 shares of the company’s stock worth $4,303,000 after acquiring an additional 161 shares during the last quarter. Finally, Private Advisor Group LLC lifted its holdings in SYSCO by 0.4% in the second quarter. Private Advisor Group LLC now owns 39,319 shares of the company’s stock worth $2,653,000 after acquiring an additional 162 shares during the last quarter. 78.15% of the stock is currently owned by institutional investors and hedge funds.

In related news, CEO Thomas Bene sold 39,384 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $78.12, for a total transaction of $3,076,678.08. Following the transaction, the chief executive officer now owns 132,929 shares in the company, valued at $10,384,413.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Brian R. Todd sold 14,706 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $78.99, for a total transaction of $1,161,626.94. Following the transaction, the senior vice president now owns 30,273 shares in the company, valued at approximately $2,391,264.27. The disclosure for this sale can be found here. Insiders have sold 117,893 shares of company stock worth $9,180,771 in the last quarter. Company insiders own 5.24% of the company’s stock.

Shares of NYSE:SYY traded up $0.23 during trading hours on Thursday, hitting $78.39. The stock had a trading volume of 849,552 shares, compared to its average volume of 2,922,247. The stock’s fifty day simple moving average is $76.63 and its 200 day simple moving average is $72.28. SYSCO Co. has a 1-year low of $59.44 and a 1-year high of $79.74. The firm has a market capitalization of $40.05 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 2.15 and a beta of 0.48. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.81 and a current ratio of 1.33.

SYSCO (NYSE:SYY) last announced its quarterly earnings results on Monday, August 12th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.07 by $0.03. SYSCO had a net margin of 2.79% and a return on equity of 76.80%. The company had revenue of $15.47 billion for the quarter, compared to analyst estimates of $15.65 billion. During the same quarter last year, the business earned $0.94 earnings per share. SYSCO’s revenue was up 1.0% compared to the same quarter last year. As a group, research analysts anticipate that SYSCO Co. will post 3.81 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.99%. SYSCO’s dividend payout ratio is presently 43.94%.

SYY has been the topic of a number of recent research reports. Bank of America raised their target price on shares of SYSCO from $76.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Barclays raised their target price on shares of SYSCO from $70.00 to $71.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 13th. Wells Fargo & Co restated a “buy” rating on shares of SYSCO in a research note on Monday, August 12th. Credit Suisse Group raised their price target on shares of SYSCO from $76.00 to $79.00 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. Finally, Consumer Edge began coverage on shares of SYSCO in a research note on Wednesday, July 17th. They issued an “underweight” rating and a $71.75 price target on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. SYSCO presently has a consensus rating of “Hold” and an average price target of $74.52.

SYSCO 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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