Empirical Asset Management LLC Has $4.25 Million Holdings in Sysco Co. (NYSE:SYY)

Empirical Asset Management LLC boosted its holdings in Sysco Co. (NYSE:SYY) by 895.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 55,563 shares of the company’s stock after acquiring an additional 49,983 shares during the period. Empirical Asset Management LLC’s holdings in Sysco were worth $4,248,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its position in shares of Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after buying an additional 2,721,449 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Sysco by 26.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock valued at $615,076,000 after acquiring an additional 1,782,180 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in shares of Sysco by 11.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after acquiring an additional 672,940 shares during the period. Primecap Management Co. CA grew its holdings in shares of Sysco by 9.7% during the 3rd quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock worth $374,410,000 after purchasing an additional 422,954 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. increased its position in shares of Sysco by 8.5% in the third quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock worth $366,789,000 after purchasing an additional 375,409 shares during the period. Institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

Shares of SYY opened at $73.17 on Friday. The business has a 50-day simple moving average of $76.88 and a two-hundred day simple moving average of $75.77. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.89. The stock has a market cap of $35.95 billion, a PE ratio of 18.81, a PEG ratio of 1.93 and a beta of 1.18. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share (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 firm 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 company earned $1.07 EPS. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. Analysts anticipate that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be paid a $0.51 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.79%. Sysco’s dividend payout ratio is 52.44%.

Wall Street Analyst Weigh In

SYY has been the subject of several recent analyst reports. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Monday. Melius started coverage on shares of Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target on the stock. Jefferies Financial Group lifted their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Melius Research upgraded Sysco to a “hold” rating in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company decreased their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $85.93.

Insider Activity at Sysco

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the transaction, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,638,670.10. The trade was a 7.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the sale, the executive vice president now owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This trade represents a 46.03 % 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 over the last three months. Company insiders own 0.54% of the company’s stock.

Sysco 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.