Sysco Corporation $SYY Stock Purchased by Woodley Farra Manion Portfolio Management Inc.

Woodley Farra Manion Portfolio Management Inc. raised its holdings in shares of Sysco Corporation (NYSE:SYY) by 11.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,669 shares of the company’s stock after purchasing an additional 6,533 shares during the period. Woodley Farra Manion Portfolio Management Inc.’s holdings in Sysco were worth $5,120,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Sunbelt Securities Inc. raised its stake in shares of Sysco by 87.6% during the first quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock worth $26,000 after buying an additional 170 shares during the last quarter. Salomon & Ludwin LLC lifted its holdings in Sysco by 718.6% in the third quarter. Salomon & Ludwin LLC now owns 352 shares of the company’s stock valued at $27,000 after buying an additional 309 shares during the period. N.E.W. Advisory Services LLC bought a new position in Sysco in the second quarter valued at approximately $29,000. Markowski Investments bought a new position in Sysco in the second quarter valued at approximately $31,000. Finally, Parvin Asset Management LLC acquired a new stake in Sysco during the 2nd quarter worth $32,000. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Down 1.0%

Shares of NYSE SYY opened at $77.57 on Wednesday. Sysco Corporation has a 52-week low of $68.19 and a 52-week high of $91.85. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.95 and a current ratio of 1.46. The stock has a market cap of $38.19 billion, a P/E ratio of 20.63, a P/E/G ratio of 1.92 and a beta of 0.66. The firm has a 50 day moving average price of $79.75 and a 200 day moving average price of $80.51.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, November 3rd. The company reported $1.19 earnings per share for the quarter, hitting the consensus estimate of $1.19. The company had revenue of $21.74 billion for the quarter, compared to analyst estimates of $22.02 billion. Sysco had a net margin of 2.12% and a return on equity of 79.24%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the business posted $1.15 earnings per share. Analysts expect that Sysco Corporation will post 5.06 EPS for the current year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd were issued a dividend of $0.55 per share. The ex-dividend date was Friday, October 2nd. This represents a $2.20 annualized dividend and a yield of 2.8%. Sysco’s payout ratio is currently 58.51%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SYY shares. JPMorgan Chase & Co. cut their price target on Sysco from $95.00 to $92.00 in a research note on Wednesday, November 4th. DA Davidson lifted their price objective on Sysco from $89.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Guggenheim reiterated a “buy” rating and issued a $90.00 price objective on shares of Sysco in a report on Wednesday, September 16th. BMO Capital Markets upped their price objective on Sysco from $90.00 to $98.00 in a report on Wednesday, August 5th. Finally, Weiss Ratings lowered Sysco from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, November 3rd. Eleven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.13.

Insider Activity

In other Sysco news, Director Thomas Gerard Ondrof bought 2,500 shares of the firm’s stock in a transaction on Wednesday, November 4th. The stock was purchased at an average cost of $76.62 per share, with a total value of $191,550.00. Following the completion of the purchase, the director owned 2,500 shares in the company, valued at approximately $191,550. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Ronald Phillips sold 7,350 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $83.61, for a total value of $614,533.50. Following the completion of the sale, the executive vice president owned 38,650 shares of the company’s stock, valued at $3,231,526.50. This trade represents a 15.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 8,873 shares of company stock worth $741,569. Corporate insiders own 0.55% of the company’s stock.

About Sysco

Sysco Corporation is a food distribution company headquartered in Houston, Texas. Founded in 1969, it supplies food and related products to customers in the foodservice and hospitality industries. The company distributes fresh and frozen foods, meat, seafood, produce, dairy products, and pantry staples, as well as kitchen equipment, cleaning supplies, and other nonfood items. Its customers include restaurants, health care and educational facilities, lodging businesses, and other organizations that prepare and serve meals.