Neo Ivy Capital Management Buys Shares of 15,268 Sysco Co. (NYSE:SYY)

Neo Ivy Capital Management acquired a new stake in shares of Sysco Co. (NYSE:SYY - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 15,268 shares of the company's stock, valued at approximately $1,192,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SYY. Armstrong Advisory Group Inc. lifted its holdings in Sysco by 1,240.0% in the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company's stock worth $26,000 after purchasing an additional 310 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Sysco during the 3rd quarter worth about $26,000. TruNorth Capital Management LLC acquired a new stake in Sysco during the 2nd quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new position in shares of Sysco in the 3rd quarter valued at about $31,000. Finally, Focused Wealth Management Inc acquired a new position in shares of Sysco in the 3rd quarter valued at about $37,000. Institutional investors own 83.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SYY. JPMorgan Chase & Co. boosted their price target on Sysco from $85.00 to $88.00 and gave the company an "overweight" rating in a research note on Monday, September 16th. StockNews.com upgraded Sysco from a "buy" rating to a "strong-buy" rating in a research note on Tuesday. 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. Finally, Jefferies Financial Group raised their target price on Sysco from $91.00 to $92.00 and gave the stock a "buy" rating in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Sysco currently has a consensus rating of "Moderate Buy" and an average price target of $85.77.

Sysco Price Performance

SYY traded down $0.24 on Wednesday, reaching $80.58. The stock had a trading volume of 790,352 shares, compared to its average volume of 3,156,604. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.89. The firm has a 50-day moving average of $76.18 and a 200-day moving average of $75.05. 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 company has a market capitalization of $39.58 billion, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19.

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 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 company had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. During the same quarter last year, the firm posted $1.07 EPS. The company's quarterly revenue was up 4.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Sysco Co. will post 4.57 EPS for the current year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.53%. Sysco's payout ratio is 52.44%.

Insider Activity at Sysco

In other Sysco news, Director Sheila Talton sold 2,900 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 approximately $966,831.65. This represents a 18.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $303,103.60. Following the completion of the transaction, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,638,670.10. The trade was a 7.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,279 shares of company stock worth $2,786,971 in the last 90 days. Corporate insiders own 0.54% of the company's stock.

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.