Fmr LLC Has $587.80 Million Holdings in Sysco Co. (NYSE:SYY)

Fmr LLC lessened its stake in Sysco Co. (NYSE:SYY) by 0.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,530,082 shares of the company’s stock after selling 21,221 shares during the quarter. Fmr LLC owned about 1.53% of Sysco worth $587,798,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SYY. LRI Investments LLC acquired a new position in Sysco in the first quarter valued at about $48,000. Burney Co. grew its position in Sysco by 16.5% in the first quarter. Burney Co. now owns 22,922 shares of the company’s stock valued at $1,861,000 after acquiring an additional 3,253 shares during the last quarter. Cetera Investment Advisers grew its position in Sysco by 163.4% in the first quarter. Cetera Investment Advisers now owns 285,012 shares of the company’s stock valued at $23,137,000 after acquiring an additional 176,791 shares during the last quarter. Cetera Advisors LLC grew its position in Sysco by 177.6% in the first quarter. Cetera Advisors LLC now owns 73,682 shares of the company’s stock valued at $5,982,000 after acquiring an additional 47,142 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Sysco by 23.5% in the first quarter. EverSource Wealth Advisors LLC now owns 2,252 shares of the company’s stock valued at $167,000 after acquiring an additional 428 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of SYY stock opened at $76.65 on Friday. The business’s 50 day simple moving average is $75.75 and its 200 day simple moving average is $74.78. Sysco Co. has a one year low of $69.03 and a one year high of $82.89. The stock has a market capitalization of $37.65 billion, a PE ratio of 19.70, a PEG ratio of 2.02 and a beta of 1.20. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, October 29th. The company reported $1.09 EPS 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 company had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. During the same quarter in the previous year, the company earned $1.07 earnings per share. The business’s revenue was up 4.4% on a year-over-year basis. As a group, research analysts forecast that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Dividend Announcement

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

Insider Buying and Selling at Sysco

In other Sysco news, 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 value of $303,103.60. Following the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at approximately $3,638,670.10. The trade was a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $216,427.00. Following the completion of the transaction, the director now directly 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 own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SYY shares. Wells Fargo & Company decreased their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their target price on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. boosted 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. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Sysco presently has an average 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.