Ghe LLC Has $1.15 Million Stake in Sysco Co. (NYSE:SYY)

Ghe LLC raised its position in Sysco Co. (NYSE:SYY) by 7.9% in the third quarter, HoldingsChannel.com reports. The fund owned 15,838 shares of the company’s stock after purchasing an additional 1,162 shares during the quarter. Ghe LLC’s holdings in Sysco were worth $1,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. QRG Capital Management Inc. increased its position in Sysco by 0.8% during the first quarter. QRG Capital Management Inc. now owns 31,461 shares of the company’s stock worth $2,554,000 after buying an additional 247 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Sysco by 29.5% in the 1st quarter. Russell Investments Group Ltd. now owns 389,515 shares of the company’s stock valued at $31,622,000 after acquiring an additional 88,769 shares during the period. Avantax Advisory Services Inc. boosted its position in Sysco by 68.0% during the first quarter. Avantax Advisory Services Inc. now owns 35,014 shares of the company’s stock worth $2,842,000 after purchasing an additional 14,174 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Sysco by 3.0% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 63,045 shares of the company’s stock valued at $5,118,000 after purchasing an additional 1,862 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Sysco by 2.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 580,218 shares of the company’s stock valued at $44,810,000 after purchasing an additional 12,165 shares during the period. Institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SYY. Morgan Stanley decreased their price target 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. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. Wells Fargo & Company reduced their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Bank of America lowered their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Finally, Barclays upped their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $85.77.

Insider Transactions at Sysco

In related news, SVP Eve M. Mcfadden sold 4,036 shares of Sysco 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 sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at approximately $3,638,670.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.54% of the company’s stock.

Sysco Price Performance

Shares of Sysco stock traded down $1.09 on Wednesday, reaching $76.20. 47,745 shares of the stock were exchanged, compared to its average volume of 3,149,384. 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 has a market cap of $37.43 billion, a PE ratio of 19.87, a P/E/G ratio of 2.05 and a beta of 1.20. The firm’s 50 day moving average is $76.12 and its 200-day moving average is $74.73. Sysco Co. has a one year low of $67.77 and a one year high of $82.89.

Sysco (NYSE:SYY) last issued its earnings results 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). 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 period in the prior year, the business posted $1.07 EPS. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, analysts anticipate 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. Shareholders of record on Friday, October 4th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.68%. The ex-dividend date was Friday, October 4th. Sysco’s payout ratio is 52.44%.

Sysco 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.