Miracle Mile Advisors LLC Invests $6.14 Million in Sysco Co. (NYSE:SYY)

Miracle Mile Advisors LLC purchased a new stake in Sysco Co. (NYSE:SYY - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 80,301 shares of the company's stock, valued at approximately $6,140,000.

Other institutional investors have also modified their holdings of the company. State Street Corp increased its holdings in Sysco by 11.1% during the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company's stock worth $2,130,617,000 after purchasing an additional 2,721,449 shares during the period. ProShare Advisors LLC raised its stake in Sysco by 103.0% in the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company's stock valued at $338,830,000 after buying an additional 2,408,226 shares in the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of Sysco by 49.8% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company's stock valued at $429,240,000 after acquiring an additional 1,997,895 shares during the last quarter. Ameriprise Financial Inc. grew its stake in 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 last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Sysco in the third quarter valued at approximately $137,900,000. Hedge funds and other institutional investors own 83.41% of the company's stock.

Insider Activity

In other news, Director Sheila Talton sold 2,900 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the transaction, the director now owns 12,955 shares in the company, valued at $966,831.65. This represents a 18.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction on Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the transaction, the senior vice president now owns 48,451 shares in the company, valued at $3,638,670.10. This trade represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,306 shares of company stock valued at $6,485,050. Insiders own 0.54% of the company's stock.

Sysco Price Performance

SYY traded up $0.12 during trading on Monday, reaching $73.71. 2,536,789 shares of the company were exchanged, compared to its average volume of 1,985,944. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.89. The company's 50-day moving average is $77.02 and its two-hundred day moving average is $75.75. 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 company has a market cap of $36.21 billion, a price-to-earnings ratio of 18.95, a P/E/G ratio of 2.10 and a beta of 1.18.

Sysco (NYSE:SYY - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing analysts' consensus estimates of $1.13 by ($0.04). The business had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. Sysco's revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.07 earnings per share. Research 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. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco's payout ratio is 52.44%.

Analysts Set New Price Targets

SYY has been the subject of several research analyst reports. Melius Research raised Sysco to a "hold" rating in a research note on Wednesday, December 18th. Jefferies Financial Group boosted their price target on shares of Sysco from $91.00 to $95.00 and gave the company a "buy" rating in a report on Monday, December 16th. JPMorgan Chase & Co. upped their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an "overweight" rating in a report on Monday, September 16th. Melius started coverage on shares of Sysco in a research note on Wednesday, December 18th. They issued a "hold" rating and a $85.00 price target for the company. Finally, Wells Fargo & Company reduced their price objective on shares of Sysco from $87.00 to $82.00 and set an "overweight" rating for the company in a research report on Wednesday, October 30th. Four 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, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $85.93.

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.

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