Steigerwald Gordon & Koch Inc. Boosts Holdings in Sysco Co. (NYSE:SYY)

Steigerwald Gordon & Koch Inc. increased its stake in shares of Sysco Co. (NYSE:SYY) by 0.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 196,538 shares of the company’s stock after purchasing an additional 410 shares during the period. Sysco accounts for approximately 1.7% of Steigerwald Gordon & Koch Inc.’s investment portfolio, making the stock its 27th biggest position. Steigerwald Gordon & Koch Inc.’s holdings in Sysco were worth $15,027,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Street Corp raised its holdings in shares of Sysco by 11.1% during the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after acquiring an additional 2,721,449 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Sysco by 26.1% during the second quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock worth $615,076,000 after purchasing an additional 1,782,180 shares in the last quarter. Diamond Hill Capital Management Inc. raised its stake 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 purchasing an additional 672,940 shares during the last quarter. Primecap Management Co. CA lifted its holdings in Sysco by 9.7% in the 3rd quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock valued at $374,410,000 after purchasing an additional 422,954 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. boosted its stake in Sysco by 8.5% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock worth $366,789,000 after purchasing an additional 375,409 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the transaction, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the sale, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,638,670.10. The trade was a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,306 shares of company stock worth $6,485,050. 0.54% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SYY has been the subject of a number of recent research reports. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 13th. Wells Fargo & Company decreased their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Melius Research upgraded Sysco to a “hold” rating in a research report on Wednesday, December 18th. Jefferies Financial Group lifted their price objective on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, Melius began coverage on Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price for the company. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $85.93.

Sysco Trading Down 0.3 %

NYSE SYY opened at $73.02 on Friday. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The stock has a market capitalization of $35.87 billion, a P/E ratio of 18.77, a PEG ratio of 1.93 and a beta of 1.18. The firm’s 50-day moving average is $76.72 and its two-hundred day moving average is $75.77. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.89.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 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 company had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.47 billion. During the same quarter in the prior year, the company posted $1.07 earnings per share. The business’s revenue was up 4.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be paid a $0.51 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.79%. Sysco’s payout ratio is presently 52.44%.

Sysco 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.