TD Private Client Wealth LLC Has $621,000 Position in Sysco Co. (NYSE:SYY)

TD Private Client Wealth LLC lifted its holdings in Sysco Co. (NYSE:SYY) by 301.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,960 shares of the company’s stock after acquiring an additional 5,975 shares during the period. TD Private Client Wealth LLC’s holdings in Sysco were worth $621,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SYY. National Pension Service lifted its stake in Sysco by 15.6% in the third quarter. National Pension Service now owns 1,237,017 shares of the company’s stock valued at $96,562,000 after buying an additional 166,798 shares during the period. New England Asset Management Inc. lifted its position in shares of Sysco by 12.7% during the 3rd quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock valued at $10,254,000 after acquiring an additional 14,810 shares during the period. Empowered Funds LLC boosted its stake in Sysco by 29.0% during the third quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock worth $6,115,000 after acquiring an additional 17,587 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings 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 during the period. Finally, Captrust Financial Advisors increased its stake in Sysco by 7.7% in the third quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock valued at $9,706,000 after purchasing an additional 8,891 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Sysco news, EVP Greg D. Bertrand sold 21,844 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $1,747,520.00. Following the completion of the sale, the executive vice president now directly owns 60,581 shares of the company’s stock, valued at $4,846,480. This trade represents a 26.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Eve M. Mcfadden sold 6,499 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at $3,876,080. This represents a 11.83 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,279 shares of company stock worth $2,786,971. Insiders own 0.54% of the company’s stock.

Sysco Stock Up 0.2 %

Sysco stock opened at $79.95 on Friday. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The stock has a market cap of $39.27 billion, a PE ratio of 20.55, a price-to-earnings-growth ratio of 2.11 and a beta of 1.19. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.89. The firm’s 50-day simple moving average is $76.40 and its 200 day simple moving average is $75.17.

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 analysts’ expectations of $20.47 billion. During the same period in the previous year, the business posted $1.07 earnings per share. The business’s revenue was up 4.4% compared to the same quarter last year. Research analysts predict that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be given a dividend of $0.51 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.55%. Sysco’s payout ratio is currently 52.44%.

Analyst Ratings Changes

SYY has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Jefferies Financial Group boosted their price objective on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. increased their target price 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, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus 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.