UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Position in Sysco Co. (NYSE:SYY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Sysco Co. (NYSE:SYY) by 17.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,918,365 shares of the company’s stock after buying an additional 569,058 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.80% of Sysco worth $305,868,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. National Pension Service boosted its holdings in shares of Sysco by 15.6% during the third quarter. National Pension Service now owns 1,237,017 shares of the company’s stock worth $96,562,000 after purchasing an additional 166,798 shares during the period. New England Asset Management Inc. lifted its holdings 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 buying an additional 14,810 shares during the period. ORG Partners LLC grew its position in shares of Sysco by 3,159.0% in the 2nd quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock worth $495,000 after buying an additional 6,855 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Sysco by 29.0% during the third 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. raised its holdings in shares of Sysco by 11.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after acquiring an additional 672,940 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Sysco news, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was 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 approximately $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $75.10, for a total transaction of $303,103.60. Following the sale, the senior vice president now directly 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. 0.54% of the stock is currently owned by corporate insiders.

Sysco Stock Up 0.6 %

NYSE:SYY opened at $77.11 on Friday. The firm has a market cap of $37.88 billion, a P/E ratio of 19.82, a P/E/G ratio of 2.01 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. 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 firm has a 50-day simple moving average of $75.78 and a two-hundred day simple moving average of $74.79.

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

Sysco Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.65%. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SYY. JPMorgan Chase & Co. lifted their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Jefferies Financial Group upped their target price on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, Wells Fargo & Company dropped their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.