World Investment Advisors LLC Purchases New Stake in Sysco Co. (NYSE:SYY)

World Investment Advisors LLC acquired a new position in shares of Sysco Co. (NYSE:SYY) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,811 shares of the company’s stock, valued at approximately $610,000.

Several other hedge funds have also recently bought and sold shares of the company. State Street Corp increased its stake in Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after acquiring an additional 2,721,449 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Sysco by 103.0% in the 2nd 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 in the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of Sysco by 49.8% in the 2nd 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 during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Sysco by 26.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock worth $615,076,000 after buying an additional 1,782,180 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Sysco during the 3rd quarter worth $137,900,000. 83.41% of the stock is owned by institutional investors.

Sysco Trading Down 0.9 %

Shares of SYY stock opened at $79.25 on Tuesday. The business has a 50-day moving average price of $76.49 and a two-hundred day moving average price of $75.27. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.89. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The firm has a market cap of $38.93 billion, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 2.10 and a beta of 1.19.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $20.47 billion. During the same period in the prior year, the company earned $1.07 EPS. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. Equities analysts anticipate that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Announces Dividend

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 paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.57%. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Jefferies Financial Group boosted their target price on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Finally, 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 report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.00.

Insider Transactions at Sysco

In other Sysco news, 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 value of $303,103.60. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the transaction, the director now owns 12,955 shares in the company, valued at $966,831.65. This represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,279 shares of company stock worth $2,786,971. Company insiders own 0.54% of the company’s stock.

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.