Y Intercept Hong Kong Ltd Buys New Position in Sysco Co. (NYSE:SYY)

Y Intercept Hong Kong Ltd purchased a new position in shares of Sysco Co. (NYSE:SYY) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,716 shares of the company’s stock, valued at approximately $368,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Orion Portfolio Solutions LLC grew its stake in shares of Sysco by 17.8% in the third quarter. Orion Portfolio Solutions LLC now owns 42,489 shares of the company’s stock worth $3,317,000 after acquiring an additional 6,433 shares in the last quarter. XTX Topco Ltd acquired a new position in Sysco during the 3rd quarter worth $3,821,000. National Bank of Canada FI increased its holdings in Sysco by 48.4% during the 3rd quarter. National Bank of Canada FI now owns 300,544 shares of the company’s stock worth $23,460,000 after purchasing an additional 98,077 shares during the period. EP Wealth Advisors LLC raised its position in Sysco by 59.0% in the 3rd quarter. EP Wealth Advisors LLC now owns 15,785 shares of the company’s stock valued at $1,232,000 after purchasing an additional 5,859 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its stake in shares of Sysco by 76.0% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 135,362 shares of the company’s stock valued at $10,256,000 after buying an additional 58,430 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling

In other Sysco news, Director Sheila Talton sold 2,900 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the transaction, the director now directly owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $519,920.00. Following the sale, the senior vice president now directly owns 48,451 shares in the company, valued at $3,876,080. This trade represents a 11.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,279 shares of company stock valued at $2,786,971 over the last quarter. Company insiders own 0.54% of the company’s stock.

Sysco Price Performance

Sysco stock opened at $79.25 on Tuesday. The business has a 50 day simple moving average of $76.49 and a 200-day simple moving average 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 debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The stock has a market capitalization of $38.93 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 2.10 and a beta of 1.19.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, October 29th. The company reported $1.09 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 analyst estimates of $20.47 billion. During the same quarter last year, the business posted $1.07 EPS. The firm’s revenue was up 4.4% on a year-over-year basis. Equities analysts predict that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be paid a $0.51 dividend. 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 presently 52.44%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SYY shares. Jefferies Financial Group raised their target price on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday. JPMorgan Chase & Co. lifted their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Wells Fargo & Company dropped their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Sysco has an average rating of “Moderate Buy” and an average target price of $86.00.

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.