Pacer Advisors Inc. Boosts Stake in Sysco Co. (NYSE:SYY)

Pacer Advisors Inc. lifted its holdings in shares of Sysco Co. (NYSE:SYY) by 21.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,941 shares of the company’s stock after buying an additional 16,997 shares during the period. Pacer Advisors Inc.’s holdings in Sysco were worth $7,567,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. National Pension Service grew its stake in shares of Sysco by 15.6% in the third quarter. National Pension Service now owns 1,237,017 shares of the company’s stock worth $96,562,000 after acquiring an additional 166,798 shares during the period. New England Asset Management Inc. grew its position in Sysco by 12.7% in the 3rd quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock worth $10,254,000 after purchasing an additional 14,810 shares during the period. ORG Partners LLC raised its stake in Sysco by 3,159.0% during the 2nd 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 last quarter. Empowered Funds LLC lifted its holdings in shares of Sysco by 29.0% during the 3rd 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. boosted its stake in shares of Sysco by 11.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after buying an additional 672,940 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the sale, the director now directly owns 12,955 shares of the company’s stock, valued at $966,831.65. This represents a 18.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the transaction, 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. 0.54% of the stock is owned by company insiders.

Sysco Stock Up 0.9 %

Shares of SYY opened at $75.79 on Friday. The business’s 50 day moving average is $75.69 and its 200 day moving average is $74.74. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. 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 $37.23 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 1.97 and a beta of 1.20.

Sysco (NYSE:SYY) last released 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). The company had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. Sysco’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the firm posted $1.07 EPS. Research analysts expect that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.69%. Sysco’s dividend payout ratio (DPR) is 52.44%.

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.