Franklin Resources Inc. Raises Stake in Sysco Co. (NYSE:SYY)

Franklin Resources Inc. raised its holdings in Sysco Co. (NYSE:SYY - Free Report) by 14.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 572,158 shares of the company's stock after buying an additional 73,306 shares during the quarter. Franklin Resources Inc. owned about 0.12% of Sysco worth $43,038,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SYY. Armstrong Advisory Group Inc. increased its position 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 valued at $26,000 after acquiring an additional 310 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of Sysco in the third quarter valued at about $26,000. Valley Wealth Managers Inc. purchased a new position in shares of Sysco in the third quarter worth about $31,000. Focused Wealth Management Inc acquired a new stake in shares of Sysco during the third quarter worth about $37,000. Finally, Fairscale Capital LLC purchased a new stake in Sysco in the second quarter valued at approximately $38,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SYY shares. JPMorgan Chase & Co. raised their price target 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. Jefferies Financial Group boosted their target price on shares of Sysco from $91.00 to $95.00 and gave the company a "buy" rating in a research report on Monday. Wells Fargo & Company cut their price target on Sysco from $87.00 to $82.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 30th. StockNews.com cut Sysco from a "strong-buy" rating to a "buy" rating in a report on Wednesday. Finally, Melius assumed coverage on Sysco in a research note on Wednesday. They issued a "hold" rating and a $85.00 target price on the stock. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $85.93.

Insider Buying and Selling at Sysco

In related news, EVP Greg D. Bertrand sold 21,844 shares of the business's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $1,747,520.00. Following the sale, the executive vice president now owns 60,581 shares in the company, valued at approximately $4,846,480. The trade was a 26.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Eve M. Mcfadden sold 6,499 shares of the firm's 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 transaction, the senior vice president now owns 48,451 shares of the company's stock, valued at $3,876,080. This trade represents a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,279 shares of company stock worth $2,786,971 over the last quarter. 0.54% of the stock is currently owned by company insiders.

Sysco Price Performance

Shares of NYSE:SYY traded down $0.95 during trading on Wednesday, reaching $77.08. The stock had a trading volume of 3,057,893 shares, compared to its average volume of 3,149,228. 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 $69.03 and a 1-year high of $82.89. The stock has a market cap of $37.86 billion, a PE ratio of 19.81, a PEG ratio of 2.10 and a beta of 1.19. The business has a fifty day moving average price of $76.60 and a 200-day moving average price of $75.32.

Sysco (NYSE:SYY - Get Free Report) last announced 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). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The business had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.47 billion. During the same period last year, the firm earned $1.07 EPS. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities analysts forecast that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Friday, January 3rd. Sysco's dividend payout ratio is presently 52.44%.

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.