Sysco Co. (NYSE:SYY) Shares Acquired by Associated Banc Corp

Associated Banc Corp lifted its holdings in Sysco Co. (NYSE:SYY) by 0.7% during the third quarter, Holdings Channel reports. The fund owned 281,022 shares of the company’s stock after buying an additional 2,024 shares during the quarter. Associated Banc Corp’s holdings in Sysco were worth $21,937,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. LRI Investments LLC purchased a new stake in Sysco during the first quarter worth $45,000. Epoch Investment Partners Inc. lifted its holdings in Sysco by 26.5% during the first quarter. Epoch Investment Partners Inc. now owns 4,968 shares of the company’s stock valued at $403,000 after purchasing an additional 1,042 shares in the last quarter. Caxton Associates LP lifted its holdings in Sysco by 12.9% during the first quarter. Caxton Associates LP now owns 18,809 shares of the company’s stock valued at $1,527,000 after purchasing an additional 2,143 shares in the last quarter. Bayesian Capital Management LP purchased a new position in Sysco during the first quarter valued at $658,000. Finally, California State Teachers Retirement System lifted its holdings in Sysco by 1.3% during the first quarter. California State Teachers Retirement System now owns 847,265 shares of the company’s stock valued at $68,781,000 after purchasing an additional 11,244 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wells Fargo & Company decreased their price objective 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. Barclays increased their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. increased their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Jefferies Financial Group increased their target price on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $85.77.

Insider Transactions at Sysco

In other news, Director Sheila Talton sold 2,900 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $966,831.65. The trade was a 18.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Eve M. Mcfadden sold 4,036 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Sysco Stock Up 1.7 %

Shares of NYSE SYY traded up $1.31 during midday trading on Monday, hitting $77.10. The company’s stock had a trading volume of 70,112 shares, compared to its average volume of 3,136,715. The business’s fifty day simple moving average is $75.69 and its two-hundred day simple moving average is $74.74. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.89. The firm has a market capitalization of $37.87 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 1.99 and a beta of 1.20.

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

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be given a dividend of $0.51 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.65%. Sysco’s dividend payout ratio is presently 52.44%.

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.