Pittenger & Anderson Inc. Has $329,000 Position in Sysco Co. (NYSE:SYY)

Pittenger & Anderson Inc. lifted its stake in Sysco Co. (NYSE:SYY) by 7.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,211 shares of the company’s stock after purchasing an additional 305 shares during the period. Pittenger & Anderson Inc.’s holdings in Sysco were worth $329,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Moloney Securities Asset Management LLC increased its holdings in shares of Sysco by 4.1% in the third quarter. Moloney Securities Asset Management LLC now owns 14,482 shares of the company’s stock valued at $1,130,000 after purchasing an additional 564 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in Sysco in the third quarter valued at approximately $75,000. Asset Management One Co. Ltd. boosted its stake in Sysco by 2.1% in the third quarter. Asset Management One Co. Ltd. now owns 189,653 shares of the company’s stock valued at $14,804,000 after acquiring an additional 3,889 shares during the last quarter. National Pension Service boosted its stake in Sysco by 15.6% in the third quarter. National Pension Service now owns 1,237,017 shares of the company’s stock valued at $96,562,000 after acquiring an additional 166,798 shares during the last quarter. Finally, Intact Investment Management Inc. bought a new position in Sysco in the third quarter valued at approximately $4,965,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Up 1.3 %

Shares of SYY stock opened at $76.35 on Wednesday. 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 Co. has a 1 year low of $66.27 and a 1 year high of $82.89. The firm’s fifty day moving average price is $76.16 and its two-hundred day moving average price is $74.72. The firm has a market capitalization of $37.51 billion, a P/E ratio of 19.63, a PEG ratio of 1.98 and a beta of 1.20.

Sysco (NYSE:SYY) last issued its quarterly 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 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 analyst estimates of $20.47 billion. During the same quarter in the previous year, the firm posted $1.07 earnings per share. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. On average, equities analysts predict that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were paid a dividend of $0.51 per share. The ex-dividend date was Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.67%. Sysco’s dividend payout ratio is currently 52.44%.

Insider Transactions at Sysco

In other news, SVP Eve M. Mcfadden sold 4,036 shares of Sysco 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 in the company, valued at approximately $3,638,670.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SYY. Morgan Stanley reduced their price objective on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. JPMorgan Chase & Co. raised 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. Barclays lifted their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Bank of America reduced their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Finally, Wells Fargo & Company reduced their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Sysco has an average rating of “Moderate Buy” and a consensus price target of $85.77.

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.