GAMMA Investing LLC Boosts Stake in Sysco Co. (NYSE:SYY)

GAMMA Investing LLC raised its holdings in shares of Sysco Co. (NYSE:SYY) by 21.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,993 shares of the company’s stock after buying an additional 1,255 shares during the period. GAMMA Investing LLC’s holdings in Sysco were worth $535,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. State Street Corp boosted its holdings in Sysco by 11.1% during the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after acquiring an additional 2,721,449 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Sysco by 26.1% during the second quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock valued at $615,076,000 after purchasing an additional 1,782,180 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in shares of Sysco by 11.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after purchasing an additional 672,940 shares during the last quarter. Primecap Management Co. CA increased its stake in Sysco by 9.7% in the 3rd quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock worth $374,410,000 after buying an additional 422,954 shares during the period. Finally, Montrusco Bolton Investments Inc. lifted its holdings in Sysco by 8.5% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock valued at $366,789,000 after buying an additional 375,409 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Down 0.4 %

NYSE:SYY opened at $75.43 on Monday. The firm has a 50 day moving average of $77.04 and a 200 day moving average of $75.72. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.89. The stock has a market capitalization of $37.05 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.10 and a beta of 1.18.

Sysco (NYSE:SYY) 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 return on equity of 101.04% and a net margin of 2.44%. The business had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.47 billion. During the same period in the previous year, the business earned $1.07 EPS. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s payout ratio is currently 52.44%.

Insider Buying and Selling

In other news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now directly owns 56,304 shares in the company, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $519,920.00. Following the sale, the senior vice president now directly owns 48,451 shares in the company, valued at $3,876,080. This trade represents a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 83,306 shares of company stock worth $6,485,050 in the last three months. Corporate insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

SYY has been the topic of a number of research analyst reports. Jefferies Financial Group upped their target price on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Melius assumed coverage on Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective on the stock. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Wells Fargo & Company dropped their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $85.93.

About Sysco

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.