Empower Advisory Group LLC Acquires 34,790 Shares of Sysco Co. (NYSE:SYY)

Empower Advisory Group LLC raised its stake in shares of Sysco Co. (NYSE:SYY - Free Report) by 3.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,012,504 shares of the company's stock after buying an additional 34,790 shares during the period. Empower Advisory Group LLC owned approximately 0.21% of Sysco worth $79,036,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SYY. Armstrong Advisory Group Inc. grew its stake in shares of Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company's stock worth $26,000 after purchasing an additional 310 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Sysco in the 3rd quarter valued at approximately $26,000. TruNorth Capital Management LLC bought a new position in shares of Sysco in the second quarter worth $25,000. Focused Wealth Management Inc acquired a new stake in shares of Sysco in the 3rd quarter valued at approximately $37,000. Finally, Canoe Financial LP acquired a new stake in shares of Sysco in the 3rd 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 that occurred on Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the sale, the senior vice president now owns 48,451 shares of the company's stock, valued at approximately $3,638,670.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.54% of the company's stock.

Sysco Price Performance

SYY traded down $0.66 during midday trading on Wednesday, hitting $76.63. The stock had a trading volume of 1,566,487 shares, compared to its average volume of 3,155,933. The company has a market cap of $37.64 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20. The business has a fifty day moving average of $76.12 and a 200 day moving average of $74.73. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. Sysco Co. has a 1 year low of $67.77 and a 1 year high of $82.89.

Sysco (NYSE:SYY - Get Free Report) last issued its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.04). The firm 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 firm's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.07 EPS. As a group, equities analysts forecast that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders 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 dividend yield of 2.66%. The ex-dividend date of this dividend was Friday, October 4th. Sysco's dividend payout ratio (DPR) is presently 52.44%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SYY. Jefferies Financial Group raised their price target 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. JPMorgan Chase & Co. lifted their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an "overweight" rating in a research report on Monday, September 16th. Barclays raised their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an "overweight" rating in a report on Wednesday, July 31st. Morgan Stanley lowered their price target on shares of Sysco from $82.00 to $81.00 and set an "equal weight" rating for the company in a report on Tuesday, July 16th. Finally, StockNews.com lowered shares of Sysco from a "strong-buy" rating to a "buy" rating in a report on Monday, October 21st. Two 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 stock has a consensus 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.