Pathstone Holdings LLC Purchases 5,918 Shares of Sysco Co. (NYSE:SYY)

Pathstone Holdings LLC increased its position in shares of Sysco Co. (NYSE:SYY) by 4.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 126,684 shares of the company’s stock after acquiring an additional 5,918 shares during the quarter. Pathstone Holdings LLC’s holdings in Sysco were worth $9,889,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Capital World Investors grew its position in Sysco by 17.5% during the 1st quarter. Capital World Investors now owns 10,984,950 shares of the company’s stock worth $891,758,000 after purchasing an additional 1,637,232 shares during the last quarter. Ameriprise Financial Inc. grew its position in Sysco by 26.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock worth $615,076,000 after purchasing an additional 1,782,180 shares during the last quarter. Diamond Hill Capital Management Inc. grew its position in Sysco by 11.2% during the 3rd 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. Capital Research Global Investors grew its position in Sysco by 112.8% during the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock worth $536,770,000 after purchasing an additional 3,504,740 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in Sysco by 103.0% during the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock worth $338,830,000 after purchasing an additional 2,408,226 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Down 1.0 %

Shares of SYY opened at $73.63 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.89. The firm has a 50-day moving average price of $75.74 and a 200 day moving average price of $74.74. The firm has a market capitalization of $36.17 billion, a P/E ratio of 18.93, a P/E/G ratio of 1.97 and a beta of 1.20.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) 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 analysts’ expectations of $20.47 billion. During the same period in the prior year, the company posted $1.07 EPS. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. Sell-side analysts forecast that Sysco Co. will post 4.57 EPS for the current year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Insiders Place Their Bets

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the 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 completion of the transaction, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This trade represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. The trade was a 18.29 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

Analyst Ratings Changes

SYY has been the topic of several research analyst reports. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. upped their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Barclays upped their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Wells Fargo & Company dropped their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, Jefferies Financial Group boosted 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. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.77.

Sysco Company 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.