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

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

A number of other hedge funds have also recently made changes to their positions in the business. National Pension Service lifted its holdings in Sysco by 15.6% in the 3rd 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 in the last quarter. New England Asset Management Inc. lifted its holdings in shares of Sysco by 12.7% in the third 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 in the last quarter. ORG Partners LLC lifted its holdings in shares of Sysco by 3,159.0% in the second quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock worth $495,000 after buying an additional 6,855 shares in the last quarter. Empowered Funds LLC grew its stake in 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 acquiring an additional 17,587 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. increased its holdings 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 valued at $521,874,000 after acquiring an additional 672,940 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

Sysco stock opened at $77.11 on Friday. The firm has a market capitalization of $37.88 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 2.01 and a beta of 1.20. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.89. The firm has a 50-day moving average price of $75.78 and a 200-day moving average price of $74.79. 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 results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate 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 quarter in the previous year, the company posted $1.07 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts forecast that Sysco Co. will post 4.57 EPS for the current year.

Sysco Announces Dividend

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 paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s dividend payout ratio is presently 52.44%.

Wall Street Analysts Forecast Growth

SYY has been the subject of several research reports. 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 report on Monday, September 16th. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. Wells Fargo & Company reduced their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group increased their target price on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.77.

Insider Activity at Sysco

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the transaction, the senior vice president now owns 48,451 shares of the company’s stock, valued at approximately $3,638,670.10. This represents a 7.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sheila Talton sold 2,900 shares of Sysco 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 $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

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.