International Assets Investment Management LLC Purchases New Stake in Sysco Co. (NYSE:SYY)

International Assets Investment Management LLC purchased a new position in shares of Sysco Co. (NYSE:SYY - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 124,253 shares of the company's stock, valued at approximately $9,500,000.

A number of other institutional investors and hedge funds have also modified their holdings of SYY. TD Asset Management Inc increased its stake in shares of Sysco by 3.3% during the 2nd quarter. TD Asset Management Inc now owns 183,372 shares of the company's stock worth $13,091,000 after purchasing an additional 5,810 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Sysco by 1.6% in the second quarter. Victory Capital Management Inc. now owns 450,989 shares of the company's stock worth $32,196,000 after acquiring an additional 6,998 shares during the last quarter. Private Advisor Group LLC boosted its stake in shares of Sysco by 6.3% during the second quarter. Private Advisor Group LLC now owns 37,895 shares of the company's stock valued at $2,705,000 after acquiring an additional 2,232 shares during the last quarter. Candriam S.C.A. increased its position in Sysco by 10.1% during the 2nd quarter. Candriam S.C.A. now owns 52,093 shares of the company's stock worth $3,719,000 after purchasing an additional 4,759 shares in the last quarter. Finally, Asset Dedication LLC increased its position in Sysco by 19.1% during the 2nd quarter. Asset Dedication LLC now owns 1,307 shares of the company's stock worth $93,000 after purchasing an additional 210 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Stock Up 0.3 %

NYSE:SYY traded up $0.25 during mid-day trading on Wednesday, hitting $74.80. The company had a trading volume of 1,976,415 shares, compared to its average volume of 1,784,663. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.89. The business has a fifty day simple moving average of $77.04 and a 200-day simple moving average of $75.74. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The firm has a market capitalization of $36.74 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 2.10 and a beta of 1.18.

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 the consensus estimate of $1.13 by ($0.04). The company had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. The business's revenue was up 4.4% on a year-over-year basis. During the same period last year, the firm posted $1.07 earnings per share. Equities analysts forecast that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a yield of 2.73%. Sysco's payout ratio is currently 52.44%.

Analysts Set New Price Targets

SYY has been the topic of several analyst reports. Melius Research raised shares of Sysco to a "hold" rating in a research note on Wednesday, December 18th. Wells Fargo & Company decreased their target price on shares of 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 downgraded Sysco from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, December 18th. Jefferies Financial Group increased their target price on Sysco from $91.00 to $95.00 and gave the stock a "buy" rating in a research report on Monday, December 16th. Finally, Melius assumed coverage on shares of Sysco in a research note on Wednesday, December 18th. They set a "hold" rating and a $85.00 price objective for the company. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.93.

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 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction on Tuesday, November 19th. The stock was 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. This trade represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 83,306 shares of company stock worth $6,485,050 over the last ninety days. Corporate insiders own 0.54% of the company's stock.

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.