7,799 Shares of Sysco Corporation $SYY Bought by Tucker Asset Management LLC

Tucker Asset Management LLC acquired a new stake in shares of Sysco Corporation (NYSE:SYY) in the third quarter, Holdings Channel.com reports. The firm acquired 7,799 shares of the company’s stock, valued at approximately $608,000.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Sysco during the second quarter worth about $3,596,356,000. Bank of America Corp DE purchased a new position in Sysco during the second quarter valued at approximately $482,589,000. Primecap Management Co. CA purchased a new position in Sysco during the second quarter valued at approximately $313,503,000. Bank of New York Mellon Corp acquired a new position in Sysco in the second quarter valued at approximately $273,323,000. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Sysco in the second quarter valued at approximately $203,861,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of SYY stock opened at $81.76 on Tuesday. The company has a market capitalization of $40.22 billion, a P/E ratio of 22.34, a P/E/G ratio of 2.31 and a beta of 0.64. The business’s 50 day moving average is $80.49 and its two-hundred day moving average is $80.54. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.51 by $0.02. The company had revenue of $22.12 billion for the quarter, compared to analyst estimates of $21.95 billion. Sysco had a return on equity of 95.05% and a net margin of 2.08%. Sysco’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $1.48 earnings per share. Analysts expect that Sysco Corporation will post 5.09 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd were given a dividend of $0.55 per share. The ex-dividend date was Friday, October 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.7%. Sysco’s dividend payout ratio (DPR) is 60.11%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. UBS Group upped their price objective on Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. JPMorgan Chase & Co. cut their target price on shares of Sysco from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, September 29th. Guggenheim reiterated a “buy” rating and issued a $90.00 target price on shares of Sysco in a research note on Wednesday, September 16th. Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a report on Saturday, October 24th. Finally, Melius Research downgraded shares of Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Nine analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.42.

Insider Activity

In related news, EVP Ronald Phillips sold 7,350 shares of Sysco stock in a transaction on Friday, August 21st. The shares were sold at an average price of $83.61, for a total value of $614,533.50. Following the sale, the executive vice president owned 38,650 shares of the company’s stock, valued at approximately $3,231,526.50. This trade represents a 15.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. In the last 90 days, insiders sold 15,525 shares of company stock worth $1,299,736. Company insiders own 0.55% of the company’s stock.

Sysco Company Profile

Sysco Corporation is a global foodservice distribution company headquartered in Houston, Texas. It supplies food and related products to restaurants, healthcare and educational institutions, hotels, government facilities, and other foodservice operators.

The company distributes a broad range of products, including fresh and frozen foods, meat and seafood, produce, dairy products, canned and packaged goods, beverages, and specialty food items. Sysco also provides nonfood products such as kitchen and dining supplies, equipment, and cleaning products, along with services intended to help customers manage menus, procurement, and operations.

Founded in 1969, Sysco serves customers primarily across the United States and Canada, as well as in parts of Europe and other international markets.