Miracle Mile Advisors LLC Acquires Shares of 80,301 Sysco Co. (NYSE:SYY)

Miracle Mile Advisors LLC bought a new stake in Sysco Co. (NYSE:SYY) in the 4th quarter, Holdings Channel reports. The institutional investor bought 80,301 shares of the company’s stock, valued at approximately $6,140,000.

A number of other large investors also recently modified their holdings of SYY. State Street Corp raised its stake in Sysco by 11.1% during the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after purchasing an additional 2,721,449 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Sysco by 26.1% in the second quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock valued at $615,076,000 after buying an additional 1,782,180 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in 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 acquiring an additional 672,940 shares during the period. Primecap Management Co. CA raised its position in shares of Sysco by 9.7% in the third quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock valued at $374,410,000 after buying an additional 422,954 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. lifted its position in shares of Sysco by 8.5% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock worth $366,789,000 after buying an additional 375,409 shares during the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sysco

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the sale, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. This trade represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction, the director now directly owns 12,955 shares in the company, valued at $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,306 shares of company stock valued at $6,485,050. 0.54% of the stock is owned by company insiders.

Sysco Price Performance

NYSE:SYY traded up $0.12 during trading hours on Monday, reaching $73.71. 2,536,789 shares of the company were exchanged, compared to its average volume of 1,985,944. The stock’s 50-day moving average is $77.02 and its 200-day moving average is $75.75. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.89. The firm has a market cap of $36.21 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 2.10 and a beta of 1.18. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38.

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

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Melius started coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target for the company. Jefferies Financial Group increased their price objective on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Melius Research raised Sysco to a “hold” rating in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. raised their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Sysco has an average rating of “Moderate Buy” and an average target price of $85.93.

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.