Geode Capital Management LLC Has $905.12 Million Stake in Sysco Co. (NYSE:SYY)

Geode Capital Management LLC increased its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 0.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,635,080 shares of the company's stock after acquiring an additional 23,787 shares during the period. Geode Capital Management LLC owned about 2.37% of Sysco worth $905,120,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SYY. State Street Corp raised its holdings in shares of Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company's stock valued at $2,130,617,000 after buying an additional 2,721,449 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Sysco by 26.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company's stock worth $615,076,000 after buying an additional 1,782,180 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in Sysco by 11.2% in 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 acquiring an additional 672,940 shares during the last quarter. Primecap Management Co. CA grew its holdings in Sysco by 9.7% during the 3rd quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company's stock worth $374,410,000 after acquiring an additional 422,954 shares during the period. Finally, Montrusco Bolton Investments Inc. lifted its stake in shares of Sysco by 8.5% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company's stock valued at $366,789,000 after purchasing an additional 375,409 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 21,844 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $1,747,520.00. Following the transaction, the executive vice president now owns 60,581 shares in the company, valued at $4,846,480. This represents a 26.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the sale, the director now owns 12,955 shares of the company's stock, valued at approximately $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. Insiders sold a total of 35,279 shares of company stock worth $2,786,971 over the last quarter. Company insiders own 0.54% of the company's stock.

Sysco Stock Down 0.8 %

SYY stock traded down $0.64 during mid-day trading on Thursday, reaching $79.71. The company had a trading volume of 1,817,271 shares, compared to its average volume of 3,156,787. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.89. The company has a market capitalization of $39.16 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 2.12 and a beta of 1.19. 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 50 day simple moving average of $76.24 and a two-hundred day simple moving average of $75.09.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The business had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.47 billion. During the same period in the previous year, the business earned $1.07 earnings per share. The business's quarterly revenue was up 4.4% on a year-over-year basis. As a group, equities analysts predict that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.56%. Sysco's dividend payout ratio is currently 52.44%.

Wall Street Analyst Weigh In

SYY has been the subject of a number of analyst reports. Jefferies Financial Group lifted their price objective on Sysco from $91.00 to $92.00 and gave the stock a "buy" rating in a research note on Wednesday, September 25th. StockNews.com upgraded shares of Sysco from a "buy" rating to a "strong-buy" rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an "overweight" rating in a report on Monday, September 16th. Finally, Wells Fargo & Company lowered their target price on Sysco from $87.00 to $82.00 and set an "overweight" rating for the company in a research note on Wednesday, October 30th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $85.77.

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.