Geode Capital Management LLC Has $905.12 Million Stake in Sysco Co. (NYSE:SYY)

Geode Capital Management LLC raised its position in shares of Sysco Co. (NYSE:SYY) by 0.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,635,080 shares of the company’s stock after purchasing an additional 23,787 shares during the quarter. Geode Capital Management LLC owned 2.37% of Sysco worth $905,120,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. National Pension Service raised its position in Sysco by 15.6% during the third quarter. National Pension Service now owns 1,237,017 shares of the company’s stock valued at $96,562,000 after buying an additional 166,798 shares during the period. New England Asset Management Inc. grew its stake in Sysco by 12.7% during the 3rd quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock valued at $10,254,000 after acquiring an additional 14,810 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Sysco by 29.0% in the 3rd quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock valued at $6,115,000 after purchasing an additional 17,587 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in shares of 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 purchasing an additional 672,940 shares during the period. Finally, Captrust Financial Advisors lifted its position in shares of Sysco by 7.7% in the third quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock worth $9,706,000 after purchasing an additional 8,891 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Activity

In other Sysco news, EVP Greg D. Bertrand sold 21,844 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $1,747,520.00. Following the completion of the sale, the executive vice president now directly owns 60,581 shares of the company’s stock, valued at $4,846,480. This represents a 26.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Eve M. Mcfadden sold 4,036 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the transaction, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,638,670.10. The trade was a 7.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,279 shares of company stock valued at $2,786,971. 0.54% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Wells Fargo & Company dropped their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock 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 company a “buy” rating in a research report on Wednesday, September 25th. Finally, StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.77.

Sysco Stock Down 0.6 %

Shares of SYY stock opened at $80.35 on Thursday. The company has a market capitalization of $39.47 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 2.12 and a beta of 1.19. 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 stock’s 50 day simple moving average is $76.18 and its 200 day simple moving average is $75.05. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.89.

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

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is 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.