Sysco Co. (NYSE:SYY) Shares Purchased by West Oak Capital LLC

West Oak Capital LLC lifted its stake in shares of Sysco Co. (NYSE:SYY) by 4.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,695 shares of the company’s stock after purchasing an additional 485 shares during the quarter. West Oak Capital LLC’s holdings in Sysco were worth $913,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Capital Research Global Investors boosted its holdings in shares of Sysco by 112.8% in the first quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock valued at $536,770,000 after acquiring an additional 3,504,740 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Sysco by 103.0% in the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock valued at $338,830,000 after buying an additional 2,408,226 shares during the period. Swedbank AB bought a new position in Sysco during the first quarter valued at about $178,824,000. Diamond Hill Capital Management Inc. boosted its stake in Sysco by 49.8% during the second quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock valued at $429,240,000 after buying an additional 1,997,895 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in Sysco by 26.1% in the second quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock worth $615,076,000 after acquiring an additional 1,782,180 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Price Performance

Shares of NYSE:SYY opened at $75.54 on Friday. The business has a fifty day simple moving average of $76.55 and a 200 day simple moving average of $74.92. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. Sysco Co. has a 1 year low of $64.28 and a 1 year high of $82.89. The firm has a market cap of $37.11 billion, a price-to-earnings ratio of 19.42, a P/E/G ratio of 1.96 and a beta of 1.20.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.38 by $0.01. The company had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.34 earnings per share. As a group, sell-side analysts predict that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Friday, October 4th. Sysco’s dividend payout ratio is 52.44%.

Wall Street Analyst Weigh In

SYY has been the topic of several recent research reports. Morgan Stanley lowered their price objective on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. JPMorgan Chase & Co. increased their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Jefferies Financial Group lifted their target price on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Bank of America reduced their target price on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Finally, Barclays lifted their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.08.

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.