Intech Investment Management LLC Acquires 12,332 Shares of Sysco Co. (NYSE:SYY)

Intech Investment Management LLC increased its holdings in shares of Sysco Co. (NYSE:SYY) by 86.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,576 shares of the company’s stock after purchasing an additional 12,332 shares during the quarter. Intech Investment Management LLC’s holdings in Sysco were worth $2,075,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its holdings in shares of Sysco by 26.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock valued at $615,076,000 after acquiring an additional 1,782,180 shares in the last quarter. Diamond Hill Capital Management Inc. grew its stake in Sysco by 11.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after purchasing an additional 672,940 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Sysco by 103.0% during the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock worth $338,830,000 after purchasing an additional 2,408,226 shares during the last quarter. Primecap Management Co. CA raised its stake in shares of Sysco by 37.5% during the 2nd quarter. Primecap Management Co. CA now owns 4,373,485 shares of the company’s stock worth $312,223,000 after purchasing an additional 1,192,650 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Sysco by 10.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,701,385 shares of the company’s stock worth $264,262,000 after purchasing an additional 359,640 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

SYY opened at $75.79 on Monday. 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 company has a market capitalization of $37.23 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 1.97 and a beta of 1.20. The business has a fifty day simple moving average of $75.69 and a 200 day simple moving average of $74.74. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.89.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The business had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. During the same period in the prior year, the business posted $1.07 earnings per share. Sysco’s revenue was up 4.4% compared to the same quarter last year. Research analysts expect that Sysco Co. will post 4.57 EPS for the current 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 dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s dividend payout ratio is currently 52.44%.

Insiders Place Their Bets

In other news, 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 value of $216,427.00. Following the completion of the transaction, the director now directly owns 12,955 shares in the company, valued at approximately $966,831.65. The trade was a 18.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Eve M. Mcfadden sold 4,036 shares of the 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 sale, the senior vice president now owns 48,451 shares in the company, valued at $3,638,670.10. This represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

SYY has been the subject of several analyst reports. Barclays raised their target price 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. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a report 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 report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Jefferies Financial Group raised their price objective on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.77.

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.