Janney Montgomery Scott LLC Acquires 28,176 Shares of Sysco Co. (NYSE:SYY)

Janney Montgomery Scott LLC increased its holdings in shares of Sysco Co. (NYSE:SYY) by 8.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 349,763 shares of the company’s stock after acquiring an additional 28,176 shares during the period. Janney Montgomery Scott LLC’s holdings in Sysco were worth $26,743,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SYY. State Street Corp increased its stake in Sysco by 11.1% in the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock worth $2,130,617,000 after buying an additional 2,721,449 shares during the period. Ameriprise Financial Inc. grew its stake in Sysco by 26.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock worth $615,076,000 after acquiring an additional 1,782,180 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Sysco during the third quarter worth approximately $137,900,000. Nordea Investment Management AB raised its stake in shares of Sysco by 52.3% during the fourth quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock valued at $208,666,000 after acquiring an additional 933,327 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. grew its stake in Sysco by 11.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after purchasing an additional 672,940 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of SYY opened at $74.81 on Friday. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.89. The stock has a fifty day moving average price of $76.45 and a 200-day moving average price of $75.86. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The firm has a market cap of $36.75 billion, a PE ratio of 19.23, a P/E/G ratio of 2.04 and a beta of 1.18.

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 the consensus estimate of $1.13 by ($0.04). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The business 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 posted $1.07 EPS. Sysco’s revenue was up 4.4% compared to the same quarter last year. Equities research analysts predict that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 3rd were issued a $0.51 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.73%. Sysco’s dividend payout ratio is currently 52.44%.

Insider Transactions at Sysco

In related news, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction dated 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 sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,638,670.10. The trade was a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the transaction, the executive vice president now owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,306 shares of company stock worth $6,485,050. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 13th. Melius assumed coverage on Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective for the company. Jefferies Financial Group increased their target price on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Melius Research upgraded shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. Finally, Wells Fargo & Company dropped their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.79.

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.