RiverGlades Family Offices LLC Makes New Investment in Sysco Co. (NYSE:SYY)

RiverGlades Family Offices LLC bought a new stake in Sysco Co. (NYSE:SYY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,100 shares of the company’s stock, valued at approximately $242,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SYY. Townsquare Capital LLC lifted its position in shares of Sysco by 10.0% during the third quarter. Townsquare Capital LLC now owns 18,758 shares of the company’s stock worth $1,464,000 after purchasing an additional 1,706 shares in the last quarter. Cadence Bank lifted its holdings in Sysco by 2.3% in the 3rd quarter. Cadence Bank now owns 65,583 shares of the company’s stock worth $5,119,000 after buying an additional 1,449 shares in the last quarter. Transamerica Financial Advisors Inc. lifted its holdings in Sysco by 19.5% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 2,346 shares of the company’s stock worth $184,000 after buying an additional 383 shares in the last quarter. Brooklyn Investment Group purchased a new position in Sysco in the 3rd quarter valued at about $98,000. Finally, Summit Financial Wealth Advisors LLC grew its stake in shares of Sysco by 0.6% during the third quarter. Summit Financial Wealth Advisors LLC now owns 101,774 shares of the company’s stock valued at $7,944,000 after acquiring an additional 651 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays raised their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. increased their price objective 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. Wells Fargo & Company decreased their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Finally, Jefferies Financial Group upped their target price on shares of Sysco from $91.00 to $92.00 and gave the company 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $85.77.

Sysco Stock Down 0.6 %

SYY stock opened at $76.39 on Wednesday. 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’s 50-day simple moving average is $75.65 and its 200 day simple moving average is $74.75. The stock has a market cap of $37.52 billion, a PE ratio of 19.64, a price-to-earnings-growth ratio of 2.02 and a beta of 1.20. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.89.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The business had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.47 billion. During the same period last year, the business posted $1.07 earnings per share. Sysco’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, sell-side analysts predict that Sysco Co. will post 4.57 EPS 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 given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.67%. 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 news, Director Sheila Talton sold 2,900 shares of Sysco 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 transaction, the director now directly owns 12,955 shares of the company’s stock, valued at $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Eve M. Mcfadden sold 4,036 shares of the company’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 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 approximately $3,638,670.10. This trade represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

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.