Associated Banc Corp Boosts Stock Position in Sysco Co. (NYSE:SYY)

Associated Banc Corp lifted its position in shares of Sysco Co. (NYSE:SYY) by 0.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 281,022 shares of the company’s stock after purchasing an additional 2,024 shares during the period. Associated Banc Corp owned 0.06% of Sysco worth $21,937,000 as of its most recent SEC filing.

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

Sysco Trading Up 1.7 %

Sysco stock traded up $1.31 during trading hours on Monday, hitting $77.10. The company had a trading volume of 70,112 shares, compared to its average volume of 3,136,715. The firm has a market cap of $37.87 billion, a P/E ratio of 19.63, a P/E/G ratio of 1.99 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 1 year low of $69.03 and a 1 year high of $82.89. The company has a 50-day moving average price of $75.69 and a two-hundred day moving average price of $74.74.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.04). The company had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. Sysco’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the firm earned $1.07 earnings per share. On average, sell-side analysts anticipate that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.65%. Sysco’s payout ratio is presently 52.44%.

Wall Street Analyst Weigh In

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

Insider Transactions at Sysco

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at approximately $3,638,670.10. This represents a 7.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sheila Talton sold 2,900 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the transaction, the director now owns 12,955 shares of the company’s stock, 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. Corporate insiders own 0.54% of the company’s stock.

About Sysco

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.