DAVENPORT & Co LLC Purchases 679 Shares of Sysco Co. (NYSE:SYY)

DAVENPORT & Co LLC boosted its position in Sysco Co. (NYSE:SYY) by 1.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 60,160 shares of the company’s stock after buying an additional 679 shares during the period. DAVENPORT & Co LLC’s holdings in Sysco were worth $4,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in Sysco by 11.1% in the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock worth $2,130,617,000 after purchasing an additional 2,721,449 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in Sysco by 11.2% in 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 during the last quarter. Primecap Management Co. CA raised its stake in Sysco by 9.7% during the third quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock worth $374,410,000 after acquiring an additional 422,954 shares in the last quarter. Montrusco Bolton Investments Inc. lifted its holdings in shares of Sysco by 8.5% in the third quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock worth $366,789,000 after acquiring an additional 375,409 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Sysco by 4.1% in the 3rd quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock valued at $332,983,000 after purchasing an additional 168,163 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Sysco

In other news, SVP Eve M. Mcfadden sold 6,499 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the completion of the sale, the senior vice president now owns 48,451 shares in the company, valued at $3,876,080. This represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the transaction, the executive vice president now directly owns 56,304 shares in the company, valued at $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,270 shares of company stock worth $6,181,946. Insiders own 0.54% of the company’s stock.

Sysco Trading Down 0.8 %

SYY opened at $72.31 on Tuesday. The company has a market cap of $35.38 billion, a P/E ratio of 18.59, a price-to-earnings-growth ratio of 1.93 and a beta of 1.18. The company has a fifty day moving average price of $76.30 and a two-hundred day moving average price of $76.02. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.33.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period in the previous year, the firm earned $0.89 earnings per share. Analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 3rd were given a $0.51 dividend. The ex-dividend date was Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.82%. Sysco’s payout ratio is 52.44%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wells Fargo & Company dropped their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Guggenheim reaffirmed a “buy” rating and issued a $85.00 target price on shares of Sysco in a report on Wednesday, January 29th. UBS Group reduced their price target on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Morgan Stanley cut their target price on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Finally, Barclays cut their price target on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and a consensus price target of $84.85.

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.