Intech Investment Management LLC Has $2.08 Million Holdings in Sysco Co. (NYSE:SYY)

Intech Investment Management LLC boosted its stake in shares of Sysco Co. (NYSE:SYY) by 86.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,576 shares of the company’s stock after purchasing an additional 12,332 shares during the quarter. Intech Investment Management LLC’s holdings in Sysco were worth $2,075,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SYY. Armstrong Advisory Group Inc. boosted its holdings in Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after acquiring an additional 310 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of Sysco during the 3rd quarter worth about $26,000. TruNorth Capital Management LLC bought a new stake in Sysco during the 2nd quarter valued at approximately $25,000. Valley Wealth Managers Inc. bought a new position in Sysco during the third quarter worth $31,000. Finally, Focused Wealth Management Inc acquired a new position in Sysco during the 3rd quarter valued at $37,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Up 0.9 %

Shares of NYSE:SYY opened at $75.79 on Monday. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.89. The firm has a market cap of $37.23 billion, a P/E ratio of 19.48, a P/E/G ratio of 1.97 and a beta of 1.20. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The company’s 50-day moving average price is $75.69 and its two-hundred day moving average price is $74.74.

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

Sysco Dividend Announcement

The firm also recently announced 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 2.69%. Sysco’s payout ratio is presently 52.44%.

Insider Activity

In other Sysco news, 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 value of $216,427.00. Following the transaction, the director now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction 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 own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SYY shares. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. Barclays lifted their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Wells Fargo & Company cut their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Jefferies Financial Group increased their price target on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and an average price target of $85.77.

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.