Nuance Investments LLC Acquires New Stake in Sysco Co. (NYSE:SYY)

by · The Markets Daily

Nuance Investments LLC acquired a new position in shares of Sysco Co. (NYSE:SYY – Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 113,299 shares of the company’s stock, valued at approximately $8,844,000.

Several other hedge funds also recently made changes to their positions in the company. Plimoth Trust Co. LLC lifted its position in Sysco by 0.6% in the second quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock valued at $1,610,000 after purchasing an additional 139 shares during the period. Koshinski Asset Management Inc. boosted its stake in shares of Sysco by 3.1% in the third quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock valued at $383,000 after buying an additional 146 shares in the last quarter. Powers Advisory Group LLC grew its holdings in Sysco by 1.6% during the second quarter. Powers Advisory Group LLC now owns 9,555 shares of the company’s stock worth $682,000 after acquiring an additional 149 shares during the period. Cable Hill Partners LLC grew its holdings in Sysco by 3.9% during the third quarter. Cable Hill Partners LLC now owns 4,049 shares of the company’s stock worth $316,000 after acquiring an additional 152 shares during the period. Finally, Arrow Financial Corp raised its position in Sysco by 0.8% in the second quarter. Arrow Financial Corp now owns 19,993 shares of the company’s stock worth $1,427,000 after acquiring an additional 155 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

SYY has been the topic of a number of recent analyst reports. Jefferies Financial Group upped their price target on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Barclays increased their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. raised their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company decreased their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.77.

Get Our Latest Stock Report on Sysco

Insider Activity

In other Sysco news, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $75.10, for a total transaction of $303,103.60. Following the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at approximately $3,638,670.10. This represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Sysco Trading Down 1.8 %

Shares of SYY stock opened at $74.40 on Wednesday. The company has a market capitalization of $36.55 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 1.97 and a beta of 1.20. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The firm has a 50-day moving average price of $75.79 and a 200 day moving average price of $74.75. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.89.

Sysco (NYSE:SYY – Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.47 billion. During the same period in the prior year, the firm earned $1.07 EPS. The business’s quarterly revenue was up 4.4% on a year-over-year basis. Research analysts forecast that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is 52.44%.

About Sysco

(Free Report)

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.

Featured Articles