37,235 Shares of Sysco Corporation $SYY Acquired by Eliot Finkel Investment Counsel LLC

Eliot Finkel Investment Counsel LLC acquired a new position in shares of Sysco Corporation (NYSE:SYY) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 37,235 shares of the company’s stock, valued at approximately $2,903,000. Sysco comprises 1.5% of Eliot Finkel Investment Counsel LLC’s holdings, making the stock its 26th largest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. United Capital Financial Advisors LLC bought a new stake in shares of Sysco in the 2nd quarter valued at about $2,633,000. Rakuten Investment Management Inc. acquired a new position in Sysco during the second quarter worth approximately $6,523,000. Empowered Funds LLC acquired a new position in Sysco during the second quarter worth approximately $9,370,000. Bank of America Corp DE acquired a new position in Sysco during the second quarter worth approximately $482,589,000. Finally, First Nebraska Trust Co bought a new stake in Sysco in the second quarter valued at approximately $183,604,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Trending Headlines about Sysco

Here are the key news stories impacting Sysco this week:

• Positive Sentiment: Director Thomas Gerard Ondrof purchased 2,500 shares at an average price of $76.62, a modest sign of insider confidence. Director stock purchase
• Neutral Sentiment: Citigroup lowered its price target from $87 to $84 and maintained a Hold/neutral rating. The target still implies potential upside from the cited share price, but the reduction reflects more restrained expectations. Citi rating
• Negative Sentiment: JPMorgan also lowered its expectations for SYY, adding to a cautious analyst tone. JPMorgan expectations
• Negative Sentiment: Sysco’s latest quarterly revenue of $21.74 billion fell short of analyst estimates, although earnings per share matched expectations at $1.19 and revenue grew 2.8% year over year. Recent trading and results context
• Negative Sentiment: The proposed $29.1 billion Jetro Restaurant Depot acquisition is still awaiting FTC clearance; regulatory and cost exposure has drawn investor scrutiny and could add uncertainty. Acquisition investigation notice

Analyst Ratings Changes

Several brokerages have recently commented on SYY. BMO Capital Markets lifted their target price on Sysco from $90.00 to $98.00 in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft increased their price target on Sysco from $86.00 to $89.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Citigroup cut their price target on Sysco from $87.00 to $84.00 and set a “neutral” rating for the company in a report on Thursday. Morgan Stanley increased their price objective on shares of Sysco from $88.00 to $91.00 and gave the company an “equal weight” rating in a research report on Thursday, October 15th. Finally, DA Davidson raised their target price on shares of Sysco from $89.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Eleven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $91.13.

Insider Activity

In other news, EVP Ronald L. Phillips sold 7,350 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $83.61, for a total transaction 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 approximately $3,231,526.50. This represents a 15.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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. Also, Director Thomas Gerard Ondrof bought 2,500 shares of the business’s stock in a transaction on Wednesday, November 4th. The shares were acquired at an average price of $76.62 per share, with a total value of $191,550.00. Following the completion of the purchase, the director directly owned 2,500 shares of the company’s stock, valued at approximately $191,550. The trade was a ? increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold 15,525 shares of company stock worth $1,299,736 over the last 90 days. 0.55% of the stock is currently owned by corporate insiders.

Sysco Stock Performance

Shares of NYSE SYY traded up $1.61 during trading hours on Friday, reaching $76.85. 6,888,690 shares of the stock were exchanged, compared to its average volume of 2,805,662. The firm has a market capitalization of $37.80 billion, a price-to-earnings ratio of 20.44, a P/E/G ratio of 2.30 and a beta of 0.66. The stock’s fifty day simple moving average is $79.89 and its 200 day simple moving average is $80.50. The company has a debt-to-equity ratio of 4.62, a quick ratio of 0.77 and a current ratio of 1.28. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $1.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.19. Sysco had a return on equity of 95.05% and a net margin of 2.08%. The business had revenue of $21.74 billion during the quarter, compared to the consensus estimate of $22.02 billion. During the same period in the previous year, the company posted $1.15 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. Sell-side analysts predict that Sysco Corporation will post 5.07 EPS for the current year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 23rd. Investors of record on Friday, October 2nd were paid a $0.55 dividend. The ex-dividend date was Friday, October 2nd. This represents a $2.20 annualized dividend and a dividend yield of 2.9%. Sysco’s dividend payout ratio is 58.51%.

Sysco Profile

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.

Sysco serves customers across the United States and in international markets, including Canada and parts of Europe.