CWA Asset Management Group LLC Makes New $3.42 Million Investment in Sysco Co. (NYSE:SYY)

CWA Asset Management Group LLC purchased a new position in Sysco Co. (NYSE:SYY - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 43,753 shares of the company's stock, valued at approximately $3,415,000.

Other hedge funds have also made changes to their positions in the company. TruNorth Capital Management LLC acquired a new position in shares of Sysco during the second quarter valued at approximately $25,000. Armstrong Advisory Group Inc. raised its holdings in shares of Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company's stock valued at $26,000 after acquiring an additional 310 shares during the last quarter. Focused Wealth Management Inc acquired a new position in shares of Sysco during the third quarter valued at approximately $37,000. Fairscale Capital LLC acquired a new position in shares of Sysco during the second quarter valued at approximately $38,000. Finally, Canoe Financial LP acquired a new position in shares of Sysco during the third quarter valued at approximately $38,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Insider Activity

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the 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 sale, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.54% of the company's stock.

Sysco Trading Up 0.7 %

NYSE:SYY traded up $0.52 during trading hours on Friday, reaching $77.39. 2,237,182 shares of the stock were exchanged, compared to its average volume of 3,171,791. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The business has a 50-day moving average of $76.14 and a two-hundred day moving average of $74.76. Sysco Co. has a twelve month low of $66.27 and a twelve month high of $82.89. The company has a market capitalization of $38.02 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 2.02 and a beta of 1.20.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $20.47 billion. During the same quarter last year, the company earned $1.07 earnings per share. The firm's revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities analysts predict that Sysco Co. will post 4.57 EPS for the current year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend was Friday, October 4th. Sysco's dividend payout ratio (DPR) is 52.44%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wells Fargo & Company reduced their target price on Sysco from $87.00 to $82.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. Jefferies Financial Group upped their price target on Sysco from $91.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. upped their price target on Sysco from $85.00 to $88.00 and gave the company an "overweight" rating in a research report on Monday, September 16th. Morgan Stanley dropped their price target on Sysco from $82.00 to $81.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 16th. Finally, Bank of America dropped their price target on Sysco from $91.00 to $87.00 and set a "buy" rating for the company in a research report on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, Sysco currently has an average rating of "Moderate Buy" and a consensus price target of $85.77.

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.