Mitchell & Pahl Private Wealth LLC Has $1.64 Million Stake in Sysco Co. (NYSE:SYY)

Mitchell & Pahl Private Wealth LLC lifted its holdings in shares of Sysco Co. (NYSE:SYY) by 7.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,488 shares of the company’s stock after purchasing an additional 1,438 shares during the quarter. Mitchell & Pahl Private Wealth LLC’s holdings in Sysco were worth $1,643,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SYY. State Street Corp lifted its stake in Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after buying an additional 2,721,449 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Sysco by 26.1% in the 2nd 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. Diamond Hill Capital Management Inc. boosted its stake in 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 purchasing an additional 672,940 shares during the period. Primecap Management Co. CA increased its holdings in Sysco by 9.7% during the 3rd quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock worth $374,410,000 after purchasing an additional 422,954 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. raised its stake in shares of Sysco by 8.5% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock valued at $366,789,000 after purchasing an additional 375,409 shares during the period. Institutional investors own 83.41% of the company’s stock.

Insider Transactions at Sysco

In other news, Director Sheila Talton sold 2,900 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the sale, the director now owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the transaction, the executive vice president now directly owns 56,304 shares in the company, 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. In the last 90 days, insiders sold 83,306 shares of company stock worth $6,485,050. 0.54% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SYY has been the subject of several recent research reports. Wells Fargo & Company reduced their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Jefferies Financial Group raised their price target on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Melius assumed coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective on the stock. Melius Research upgraded shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. Finally, StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 13th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $85.93.

Sysco Trading Down 0.3 %

Shares of NYSE:SYY opened at $73.02 on Tuesday. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.89. 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 company has a market capitalization of $35.87 billion, a P/E ratio of 18.77, a price-to-earnings-growth ratio of 2.03 and a beta of 1.18. The company has a 50-day simple moving average of $76.72 and a 200 day simple moving average of $75.85.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share (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 during the quarter, compared to analyst estimates of $20.47 billion. During the same period in the previous year, the business earned $1.07 earnings per share. The business’s quarterly revenue was up 4.4% on a year-over-year basis. Sell-side analysts forecast that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s payout ratio is presently 52.44%.

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.