Hager Investment Management Services LLC Buys New Holdings in Sysco Co. (NYSE:SYY)

Hager Investment Management Services LLC purchased a new position in shares of Sysco Co. (NYSE:SYY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 655 shares of the company’s stock, valued at approximately $50,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its holdings in Sysco by 11.1% during the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after purchasing an additional 2,721,449 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in Sysco by 11.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after buying an additional 672,940 shares during the last quarter. Primecap Management Co. CA raised its holdings in Sysco by 9.7% in the 3rd quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock valued at $374,410,000 after acquiring an additional 422,954 shares during the period. Montrusco Bolton Investments Inc. lifted its position in Sysco by 8.5% during the third quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock worth $366,789,000 after acquiring an additional 375,409 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Sysco by 4.1% during the third quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock worth $332,983,000 after acquiring an additional 168,163 shares during the period. Institutional investors own 83.41% of the company’s stock.

Insider Activity

In related news, SVP Eve M. Mcfadden sold 6,499 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the completion of the sale, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,876,080. This represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sheila Talton sold 2,900 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the sale, 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. Insiders sold a total of 79,270 shares of company stock worth $6,181,946 in the last three months. Company insiders own 0.54% of the company’s stock.

Sysco Stock Down 0.0 %

Shares of NYSE:SYY opened at $71.38 on Thursday. The business has a fifty day simple moving average of $76.11 and a 200 day simple moving average of $75.99. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.33. The firm has a market cap of $34.92 billion, a P/E ratio of 18.35, a P/E/G ratio of 1.93 and a beta of 1.17. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the previous year, the company earned $0.89 EPS. Analysts predict that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 3rd were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.86%. Sysco’s dividend payout ratio is currently 52.44%.

Analyst Ratings Changes

Several research firms recently weighed in on SYY. JPMorgan Chase & Co. dropped their price target on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday. Wells Fargo & Company dropped their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Morgan Stanley decreased their target price on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Melius Research upgraded shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Finally, StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.38.

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.