GAMMA Investing LLC Raises Stock Position in Sysco Co. (NYSE:SYY)

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

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TD Asset Management Inc grew its stake in shares of Sysco by 3.3% during the 2nd quarter. TD Asset Management Inc now owns 183,372 shares of the company’s stock worth $13,091,000 after purchasing an additional 5,810 shares during the period. National Bank of Canada FI increased its holdings in Sysco by 19.8% in the second quarter. National Bank of Canada FI now owns 202,467 shares of the company’s stock valued at $14,147,000 after buying an additional 33,429 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Sysco by 1.6% in the second quarter. Victory Capital Management Inc. now owns 450,989 shares of the company’s stock worth $32,196,000 after acquiring an additional 6,998 shares during the period. Private Advisor Group LLC boosted its stake in shares of Sysco by 6.3% during the 2nd quarter. Private Advisor Group LLC now owns 37,895 shares of the company’s stock worth $2,705,000 after acquiring an additional 2,232 shares in the last quarter. Finally, Candriam S.C.A. grew its position in shares of Sysco by 10.1% during the 2nd quarter. Candriam S.C.A. now owns 52,093 shares of the company’s stock valued at $3,719,000 after acquiring an additional 4,759 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Sysco

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction on Friday, November 1st. The stock was 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 directly 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 document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the business’s stock in a transaction dated 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 sale, the director now owns 12,955 shares in the company, valued at approximately $966,831.65. This trade represents a 18.29 % 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 90 days. Insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SYY. JPMorgan Chase & Co. upped their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Melius initiated coverage on Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price on the stock. Wells Fargo & Company cut their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Finally, Melius Research upgraded shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $85.93.

Sysco Price Performance

SYY stock opened at $75.43 on Monday. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.89. The firm has a market capitalization of $37.05 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 2.10 and a beta of 1.18. 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 business has a 50 day simple moving average of $77.04 and a 200-day simple moving average of $75.72.

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

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.70%. Sysco’s dividend payout ratio (DPR) is 52.44%.

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.