Moran Wealth Management LLC Buys Shares of 80,849 Sysco Co. (NYSE:SYY)

Moran Wealth Management LLC bought a new stake in Sysco Co. (NYSE:SYY) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 80,849 shares of the company’s stock, valued at approximately $6,311,000.

Other hedge funds also recently added to or reduced their stakes in the company. National Pension Service lifted its stake in Sysco by 15.6% in the third quarter. National Pension Service now owns 1,237,017 shares of the company’s stock valued at $96,562,000 after buying an additional 166,798 shares during the last quarter. ORG Partners LLC raised its stake in shares of Sysco by 3,159.0% during the second quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock valued at $495,000 after purchasing an additional 6,855 shares in the last quarter. New England Asset Management Inc. raised its stake in shares of Sysco by 12.7% during the third quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock valued at $10,254,000 after purchasing an additional 14,810 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Sysco by 29.0% during the third quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock valued at $6,115,000 after purchasing an additional 17,587 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. raised its stake in shares of Sysco by 11.2% during 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 purchasing an additional 672,940 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction 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 completion of the transaction, 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 document filed with the SEC, which is available through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the transaction, the director now owns 12,955 shares of the company’s stock, valued at $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 owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group lifted their price objective on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. lifted their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. 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 report on Wednesday, October 30th. Finally, Barclays lifted their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $85.77.

Sysco Trading Down 1.0 %

Shares of SYY opened at $73.63 on Thursday. The business’s 50-day moving average price is $75.74 and its 200 day moving average price is $74.74. The stock has a market capitalization of $36.17 billion, a P/E ratio of 18.93, a P/E/G ratio of 1.95 and a beta of 1.20. Sysco Co. has a 1-year low of $69.03 and a 1-year 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.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The company had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.07 EPS. Analysts expect that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.77%. Sysco’s dividend payout ratio is 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.