Sysco Co. (NYSE:SYY) Shares Acquired by Synovus Financial Corp

Synovus Financial Corp boosted its stake in Sysco Co. (NYSE:SYY) by 14.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 4,238 shares of the company’s stock after acquiring an additional 543 shares during the quarter. Synovus Financial Corp’s holdings in Sysco were worth $331,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp increased its stake in shares of Sysco by 11.1% during the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock worth $2,130,617,000 after purchasing an additional 2,721,449 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Sysco by 103.0% in the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock worth $338,830,000 after buying an additional 2,408,226 shares during the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of Sysco by 49.8% during the second quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock valued at $429,240,000 after acquiring an additional 1,997,895 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Sysco by 26.1% in the second 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. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Sysco in the third quarter worth approximately $137,900,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling

In other Sysco news, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction dated 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 owns 12,955 shares in the company, valued at $966,831.65. This represents a 18.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 35,279 shares of company stock valued at $2,786,971 in the last ninety days. Company insiders own 0.54% of the company’s stock.

Sysco Stock Down 1.2 %

Shares of NYSE:SYY opened at $77.08 on Thursday. The business has a 50-day moving average price of $76.60 and a 200 day moving average price of $75.32. The company has a market capitalization of $37.86 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 2.10 and a beta of 1.19. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.89. 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 (NYSE:SYY) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share 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 firm had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.47 billion. During the same period in the previous year, the firm posted $1.07 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. Sell-side analysts expect that Sysco Co. will post 4.57 EPS for the current year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s payout ratio is 52.44%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Jefferies Financial Group raised their price objective on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday. Wells Fargo & Company lowered their price target 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. Melius initiated coverage on shares of Sysco in a report on Wednesday. They issued a “hold” rating and a $85.00 price objective for the company. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and a consensus price target of $85.93.

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.