5,950 Shares in Sysco Co. (NYSE:SYY) Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. acquired a new position in Sysco Co. (NYSE:SYY) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,950 shares of the company’s stock, valued at approximately $464,000.

Other large investors also recently modified their holdings of the company. Armstrong Advisory Group Inc. grew its holdings in shares of Sysco by 1,240.0% in the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after acquiring an additional 310 shares during the period. Ashton Thomas Securities LLC purchased a new position in Sysco during the third quarter valued at $26,000. TruNorth Capital Management LLC purchased a new position in Sysco during the second quarter valued at $25,000. Valley Wealth Managers Inc. purchased a new position in Sysco during the third quarter valued at $31,000. Finally, Focused Wealth Management Inc purchased a new position in Sysco during the third quarter valued at $37,000. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Up 0.3 %

Shares of SYY stock opened at $76.65 on Thursday. 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. The stock’s 50-day moving average price is $75.70 and its 200-day moving average price is $74.76. The stock has a market capitalization of $37.65 billion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 2.02 and a beta of 1.20.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) 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 firm had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. During the same period last year, the firm posted $1.07 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities research analysts predict that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.66%. Sysco’s payout ratio is currently 52.44%.

Insiders Place Their Bets

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the sale, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sheila Talton sold 2,900 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 in the company, valued at approximately $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 insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on SYY shares. Jefferies Financial Group lifted 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. Wells Fargo & Company lowered their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Barclays lifted their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.77.

Sysco Company Profile

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.