Vestcor Inc Has $3.27 Million Stock Holdings in Sysco Co. (NYSE:SYY)

Vestcor Inc raised its stake in Sysco Co. (NYSE:SYY) by 53.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 41,937 shares of the company’s stock after purchasing an additional 14,614 shares during the quarter. Vestcor Inc’s holdings in Sysco were worth $3,274,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Conway Capital Management Inc. acquired a new position in Sysco in the 3rd quarter valued at approximately $295,000. Barclays PLC increased its stake in shares of Sysco by 43.2% during the 3rd quarter. Barclays PLC now owns 1,715,356 shares of the company’s stock worth $133,902,000 after purchasing an additional 517,219 shares during the last quarter. Geller Advisors LLC increased its stake in shares of Sysco by 14.2% during the 3rd quarter. Geller Advisors LLC now owns 8,946 shares of the company’s stock worth $698,000 after purchasing an additional 1,111 shares during the last quarter. Groupama Asset Managment increased its stake in shares of Sysco by 0.6% during the 3rd quarter. Groupama Asset Managment now owns 31,949 shares of the company’s stock worth $2,494,000 after purchasing an additional 197 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in Sysco by 8.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 715,378 shares of the company’s stock valued at $55,842,000 after buying an additional 55,691 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SYY shares. Jefferies Financial Group raised their target price on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. raised their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Wells Fargo & Company dropped their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Sysco has an average rating of “Moderate Buy” and an average price target of $85.77.

Insider Buying and Selling at Sysco

In other news, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the sale, the director now owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,279 shares of company stock valued at $2,786,971 in the last quarter. 0.54% of the stock is currently owned by insiders.

Sysco Price Performance

NYSE:SYY opened at $80.82 on Wednesday. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.89. 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 fifty day simple moving average of $76.12 and a 200 day simple moving average of $74.99. The stock has a market capitalization of $39.70 billion, a PE ratio of 20.78, a P/E/G ratio of 2.12 and a beta of 1.19.

Sysco (NYSE:SYY) last released its earnings results 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). 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 the consensus estimate of $20.47 billion. During the same period in the prior year, the business posted $1.07 earnings per share. Sysco’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, research analysts expect that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders 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 yield of 2.52%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s dividend payout ratio is 52.44%.

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.