2,797 Shares in Sysco Co. (NYSE:SYY) Acquired by Advisors Management Group Inc. ADV

Advisors Management Group Inc. ADV bought a new position in shares of Sysco Co. (NYSE:SYY) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,797 shares of the company’s stock, valued at approximately $218,000.

Other hedge funds also recently made changes to their positions in the company. ORG Partners LLC grew its stake in shares of Sysco by 3,159.0% during the 2nd quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock worth $495,000 after acquiring an additional 6,855 shares in the last quarter. Mizuho Markets Americas LLC grew its stake in shares of Sysco by 102.1% during the 1st quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock worth $11,355,000 after acquiring an additional 70,660 shares in the last quarter. Wedge Capital Management L L P NC grew its stake in shares of Sysco by 11.6% during the 2nd quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock worth $12,577,000 after acquiring an additional 18,296 shares in the last quarter. Shell Asset Management Co. grew its stake in shares of Sysco by 205.0% during the 1st quarter. Shell Asset Management Co. now owns 14,305 shares of the company’s stock worth $1,161,000 after acquiring an additional 9,615 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Sysco during the 1st quarter worth approximately $1,027,000. 83.41% of the stock is owned by institutional investors.

Sysco Stock Up 0.9 %

SYY opened at $77.01 on Thursday. Sysco Co. has a fifty-two week low of $66.27 and a fifty-two week high of $82.89. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The company has a market capitalization of $37.83 billion, a P/E ratio of 19.80, a P/E/G ratio of 1.98 and a beta of 1.20. The stock has a fifty day moving average of $76.17 and a 200-day moving average of $74.74.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share 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 firm had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.47 billion. During the same period in the prior year, the business posted $1.07 EPS. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities analysts expect that Sysco Co. will post 4.57 EPS for the current year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date was Friday, October 4th. Sysco’s payout ratio is currently 52.44%.

Insider Buying and Selling

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the transaction, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,638,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.54% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Bank of America cut their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Barclays raised their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Jefferies Financial Group raised 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. Finally, StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and an average price target 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.