Larson Financial Group LLC Purchases 1,023 Shares of Sysco Co. (NYSE:SYY)

Larson Financial Group LLC raised its position in shares of Sysco Co. (NYSE:SYY) by 84.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,234 shares of the company’s stock after acquiring an additional 1,023 shares during the period. Larson Financial Group LLC’s holdings in Sysco were worth $174,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. National Pension Service boosted its holdings in Sysco by 15.6% during the third quarter. National Pension Service now owns 1,237,017 shares of the company’s stock valued at $96,562,000 after acquiring an additional 166,798 shares during the period. New England Asset Management Inc. lifted its stake in shares of Sysco by 12.7% in the third quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock valued at $10,254,000 after buying an additional 14,810 shares during the period. ORG Partners LLC lifted 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 buying an additional 6,855 shares during the period. Empowered Funds LLC lifted its stake in shares of Sysco by 29.0% in 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 period. Finally, Diamond Hill Capital Management Inc. lifted its stake in shares of Sysco by 11.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after buying an additional 672,940 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Sysco Trading Up 0.3 %

Shares of SYY stock opened at $76.65 on Thursday. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.89. The company has a market capitalization of $37.65 billion, a P/E ratio of 19.70, a P/E/G ratio of 2.02 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 firm has a 50-day moving average price of $75.70 and a 200 day moving average price of $74.76.

Sysco (NYSE:SYY) last announced its 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 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 the consensus estimate of $20.47 billion. During the same period in the prior year, the firm posted $1.07 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. Research analysts forecast that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Dividend Announcement

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 $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Friday, January 3rd. Sysco’s dividend payout ratio is presently 52.44%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, Director Sheila Talton sold 2,900 shares of the business’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 sale, the director now directly owns 12,955 shares of the company’s stock, valued at $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Eve M. Mcfadden sold 4,036 shares of the business’s stock in a transaction that occurred 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 approximately $3,638,670.10. This trade represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

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.