Sysco Co. (NYSE:SYY) Shares Bought by Vestcor Inc

Vestcor Inc grew its position in shares of Sysco Co. (NYSE:SYY) by 53.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,937 shares of the company’s stock after purchasing an additional 14,614 shares during the period. Vestcor Inc’s holdings in Sysco were worth $3,274,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. lifted its stake in Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after purchasing an additional 310 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Sysco in the third quarter valued at $26,000. TruNorth Capital Management LLC acquired a new stake in shares of Sysco in the second quarter valued at $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of Sysco in the third quarter valued at $31,000. Finally, Focused Wealth Management Inc purchased a new position in Sysco in the third quarter valued at $37,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Performance

Shares of SYY stock opened at $80.82 on Wednesday. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.89. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The firm has a market capitalization of $39.70 billion, a P/E ratio of 20.78, a P/E/G ratio of 2.12 and a beta of 1.19. The company’s fifty day moving average price is $76.12 and its two-hundred day moving average price is $74.99.

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 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 company had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.47 billion. During the same quarter last year, the company posted $1.07 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, research analysts anticipate that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is 52.44%.

Analyst Upgrades and Downgrades

SYY has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Jefferies Financial Group increased their target price on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Wells Fargo & Company decreased their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Two equities 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’s stock. According to data from MarketBeat.com, the company currently has an average 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 the 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 of the company’s stock, valued at $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Greg D. Bertrand sold 21,844 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $1,747,520.00. Following the sale, the executive vice president now directly owns 60,581 shares of the company’s stock, valued at approximately $4,846,480. This represents a 26.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 35,279 shares of company stock valued at $2,786,971. Company insiders own 0.54% of the company’s stock.

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.