Groupama Asset Managment Acquires 197 Shares of Sysco Co. (NYSE:SYY)

Groupama Asset Managment lifted its holdings in shares of Sysco Co. (NYSE:SYY) by 0.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 31,949 shares of the company’s stock after purchasing an additional 197 shares during the period. Groupama Asset Managment’s holdings in Sysco were worth $2,494,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp grew 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 worth $2,130,617,000 after acquiring an additional 2,721,449 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Sysco by 103.0% during the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock valued at $338,830,000 after purchasing an additional 2,408,226 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of Sysco by 49.8% in 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 purchasing an additional 1,997,895 shares in the last quarter. Ameriprise Financial Inc. raised its position in Sysco by 26.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock worth $615,076,000 after purchasing an additional 1,782,180 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in Sysco during the 3rd quarter worth $137,900,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Sysco

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the 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 completion of the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at approximately $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Greg D. Bertrand sold 21,844 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $1,747,520.00. Following the transaction, the executive vice president now directly owns 60,581 shares in the company, valued at $4,846,480. This trade represents a 26.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,279 shares of company stock worth $2,786,971 in the last three months. Insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SYY. Wells Fargo & Company lowered their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. upped 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, StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Sysco has an average rating of “Moderate Buy” and an average price target of $85.77.

Sysco Stock Performance

Shares of SYY opened at $80.73 on Monday. The firm has a market cap of $39.66 billion, a P/E ratio of 20.75, a PEG ratio of 2.12 and a beta of 1.19. Sysco Co. has a twelve month low of $69.03 and a twelve month 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 firm’s 50 day moving average price is $76.06 and its two-hundred day moving average price is $74.94.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate 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 company earned $1.07 earnings per share. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. On average, analysts forecast that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders 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 yield of 2.53%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

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.