Moran Wealth Management LLC Purchases New Holdings in Sysco Co. (NYSE:SYY)

Moran Wealth Management LLC purchased a new position in Sysco Co. (NYSE:SYY - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 80,849 shares of the company's stock, valued at approximately $6,311,000.

Other hedge funds also recently made changes to their positions in the company. Capital World Investors boosted its position in Sysco by 17.5% during the 1st quarter. Capital World Investors now owns 10,984,950 shares of the company's stock valued at $891,758,000 after buying an additional 1,637,232 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Sysco by 26.1% during the second quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company's stock valued at $615,076,000 after purchasing an additional 1,782,180 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of Sysco by 11.2% during 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 in the last quarter. Capital Research Global Investors increased its position in shares of Sysco by 112.8% during the first quarter. Capital Research Global Investors now owns 6,612,092 shares of the company's stock valued at $536,770,000 after acquiring an additional 3,504,740 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of Sysco by 103.0% in the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company's stock worth $338,830,000 after purchasing an additional 2,408,226 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Barclays increased their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an "overweight" rating in a research report on Wednesday, July 31st. Jefferies Financial Group boosted their price objective on shares of Sysco from $91.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, September 25th. StockNews.com cut Sysco from a "strong-buy" rating to a "buy" rating in a report on Monday, October 21st. JPMorgan Chase & Co. lifted their price target 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 decreased their price target on Sysco from $87.00 to $82.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $85.77.

Insiders Place Their Bets

In related news, SVP Eve M. Mcfadden sold 4,036 shares of Sysco 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 trade represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 transaction, the director now directly owns 12,955 shares of the company's stock, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company's stock.

Sysco Trading Up 1.0 %

Shares of SYY traded up $0.74 during midday trading on Thursday, hitting $74.37. The stock had a trading volume of 983,091 shares, compared to its average volume of 3,142,930. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.89. The stock's 50 day moving average is $75.74 and its 200 day moving average is $74.74. The firm has a market cap of $36.53 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 1.95 and a beta of 1.20. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73.

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

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders 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 dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco's dividend payout ratio is currently 52.44%.

Sysco Company 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.