TRUE Private Wealth Advisors acquired a new position in shares of SYSCO Co. (NYSE:SYY) in the 3rd quarter, HoldingsChannel reports. The fund acquired 2,948 shares of the company’s stock, valued at approximately $216,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Chip Partners Inc. bought a new stake in shares of SYSCO during the 2nd quarter worth $104,000. Quad Cities Investment Group LLC bought a new stake in shares of SYSCO during the 2nd quarter worth $111,000. Flagship Harbor Advisors LLC bought a new stake in shares of SYSCO during the 2nd quarter worth $121,000. Daiwa SB Investments Ltd. bought a new stake in shares of SYSCO during the 3rd quarter worth $132,000. Finally, Fort L.P. bought a new stake in shares of SYSCO during the 2nd quarter worth $123,000. 80.18% of the stock is owned by institutional investors and hedge funds.

In related news, Director Joshua D. Frank sold 1,013,666 shares of the company’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $75.09, for a total transaction of $76,116,179.94. Following the completion of the transaction, the director now directly owns 4,005 shares in the company, valued at approximately $300,735.45. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard G. Tilghman sold 5,000 shares of the company’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $68.62, for a total transaction of $343,100.00. Following the transaction, the director now owns 56,393 shares of the company’s stock, valued at $3,869,687.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,969,811 shares of company stock valued at $297,370,093. Corporate insiders own 7.88% of the company’s stock.

Several analysts recently issued reports on the stock. BMO Capital Markets upped their price objective on shares of SYSCO from $74.00 to $81.00 and gave the stock an “outperform” rating in a report on Tuesday, August 14th. Loop Capital upped their price objective on shares of SYSCO to $80.00 and gave the stock a “buy” rating in a report on Tuesday, August 14th. Wells Fargo & Co upped their price objective on shares of SYSCO from $71.00 to $80.00 and gave the stock a “$70.32” rating in a report on Wednesday, July 18th. They noted that the move was a valuation call. ValuEngine raised shares of SYSCO from a “hold” rating to a “buy” rating in a report on Tuesday, June 26th. Finally, Morgan Stanley upped their price objective on shares of SYSCO from $67.00 to $71.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $72.42.

NYSE:SYY opened at $71.10 on Friday. The firm has a market cap of $36.65 billion, a P/E ratio of 22.64, a P/E/G ratio of 1.91 and a beta of 0.56. SYSCO Co. has a one year low of $52.30 and a one year high of $75.98. The company has a quick ratio of 0.74, a current ratio of 1.21 and a debt-to-equity ratio of 3.01.

SYSCO (NYSE:SYY) last released its earnings results on Monday, August 13th. The company reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.01. The firm had revenue of $15.32 billion during the quarter, compared to analysts’ expectations of $15.30 billion. SYSCO had a net margin of 2.44% and a return on equity of 68.15%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 EPS. As a group, analysts forecast that SYSCO Co. will post 3.49 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 26th. Investors of record on Friday, October 5th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.03%. The ex-dividend date is Thursday, October 4th. SYSCO’s payout ratio is currently 45.86%.

SYSCO Profile

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.

Further Reading: Book Value Per Share – BVPS

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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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