GWN Securities Inc. Boosts Stake in Sysco Corporation $SYY

GWN Securities Inc. lifted its holdings in Sysco Corporation (NYSE:SYY) by 34.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,238 shares of the company’s stock after purchasing an additional 20,453 shares during the quarter. Sysco accounts for about 1.1% of GWN Securities Inc.’s investment portfolio, making the stock its 20th biggest holding. GWN Securities Inc.’s holdings in Sysco were worth $6,027,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Golden State Wealth Management LLC boosted its holdings in shares of Sysco by 48.4% during the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock valued at $32,000 after acquiring an additional 140 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in Sysco by 4.4% during the first quarter. Robeco Institutional Asset Management B.V. now owns 65,999 shares of the company’s stock valued at $4,953,000 after purchasing an additional 2,808 shares during the period. Transcend Capital Advisors LLC lifted its position in Sysco by 14.7% during the first quarter. Transcend Capital Advisors LLC now owns 6,271 shares of the company’s stock valued at $471,000 after purchasing an additional 805 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Sysco by 13.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,158 shares of the company’s stock valued at $5,569,000 after purchasing an additional 9,164 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in Sysco by 3.1% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,196,948 shares of the company’s stock valued at $89,819,000 after buying an additional 36,492 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.

Sysco Stock Up 0.8%

NYSE SYY opened at $77.93 on Tuesday. The stock’s 50-day moving average price is $80.50 and its 200-day moving average price is $76.93. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $83.47. The company has a market capitalization of $37.29 billion, a P/E ratio of 20.89, a price-to-earnings-growth ratio of 2.39 and a beta of 0.82.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.09. The company had revenue of $21.14 billion during the quarter, compared to analyst estimates of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.39 EPS. On average, equities research analysts predict that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 24th. Shareholders of record on Friday, October 3rd were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, October 3rd. Sysco’s dividend payout ratio is presently 57.91%.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 7,351 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $81.00, for a total value of $595,431.00. Following the completion of the transaction, the executive vice president directly owned 41,837 shares in the company, valued at $3,388,797. This represents a 14.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 14,732 shares of company stock valued at $1,193,245 in the last three months. Corporate insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SYY shares. Barclays boosted their target price on shares of Sysco from $77.00 to $82.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Morgan Stanley set a $88.00 price objective on Sysco in a report on Tuesday, October 21st. Citigroup raised their target price on Sysco from $84.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. UBS Group set a $90.00 target price on Sysco in a research report on Wednesday, July 30th. Finally, Wall Street Zen cut shares of Sysco from a “buy” rating to a “hold” rating in a research note on Saturday. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.00.

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.