Sysco Co. (NYSE:SYY) Shares Purchased by Cadence Bank

Cadence Bank grew its holdings in shares of Sysco Co. (NYSE:SYY) by 2.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 65,583 shares of the company’s stock after purchasing an additional 1,449 shares during the period. Cadence Bank’s holdings in Sysco were worth $5,119,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. National Pension Service lifted its holdings in Sysco by 15.6% in the third quarter. National Pension Service now owns 1,237,017 shares of the company’s stock worth $96,562,000 after acquiring an additional 166,798 shares during the last quarter. New England Asset Management Inc. grew its position in Sysco by 12.7% in the 3rd quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock worth $10,254,000 after purchasing an additional 14,810 shares during the last quarter. ORG Partners LLC increased its stake in shares of Sysco by 3,159.0% in the second quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock valued at $495,000 after purchasing an additional 6,855 shares during the period. Empowered Funds LLC raised its holdings in shares of Sysco by 29.0% during the third quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock valued at $6,115,000 after buying an additional 17,587 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its position in shares of Sysco by 11.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after buying an additional 672,940 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on SYY. Wells Fargo & Company lowered 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. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Barclays upped their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, 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. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $85.77.

Sysco Stock Performance

Sysco stock opened at $76.39 on Wednesday. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.89. The firm’s 50 day simple moving average is $75.65 and its 200-day simple moving average is $74.75. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The company has a market cap of $37.52 billion, a P/E ratio of 19.64, a price-to-earnings-growth ratio of 2.02 and a beta of 1.20.

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 the consensus estimate of $1.13 by ($0.04). The firm had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.07 earnings per share. As a group, equities research analysts predict that Sysco Co. will post 4.57 EPS for the current year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.51 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a yield of 2.67%. Sysco’s payout ratio is presently 52.44%.

Insider Buying and Selling at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the transaction, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,638,670.10. This represents a 7.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sheila Talton sold 2,900 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the transaction, the director now owns 12,955 shares in the company, valued at approximately $966,831.65. This represents a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Sysco Profile

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.