Sysco Co. (NYSE:SYY) Shares Acquired by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp grew its position in shares of Sysco Co. (NYSE:SYY - Free Report) by 5.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 190,692 shares of the company's stock after purchasing an additional 10,519 shares during the quarter. Peapack Gladstone Financial Corp's holdings in Sysco were worth $14,886,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Everpar Advisors LLC raised its position in Sysco by 28.6% in the 2nd quarter. Everpar Advisors LLC now owns 3,476 shares of the company's stock valued at $248,000 after purchasing an additional 773 shares during the last quarter. Boston Trust Walden Corp grew its holdings in shares of Sysco by 2.5% during the second quarter. Boston Trust Walden Corp now owns 289,495 shares of the company's stock worth $20,667,000 after buying an additional 6,967 shares during the last quarter. Raymond James & Associates increased its position in Sysco by 2.9% in the 2nd quarter. Raymond James & Associates now owns 1,511,632 shares of the company's stock valued at $107,915,000 after acquiring an additional 42,707 shares during the period. Williams Financial LLC raised its stake in Sysco by 6,102.0% during the 2nd quarter. Williams Financial LLC now owns 237,412 shares of the company's stock valued at $17,749,000 after acquiring an additional 233,584 shares during the last quarter. Finally, Shayne & Jacobs LLC lifted its position in Sysco by 1.5% during the 2nd quarter. Shayne & Jacobs LLC now owns 333,327 shares of the company's stock worth $23,796,000 after acquiring an additional 4,841 shares during the period. Institutional investors and hedge funds own 83.41% of the company's stock.

Insider Transactions at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 6,499 shares of the firm's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $519,920.00. Following the sale, the senior vice president now directly owns 48,451 shares of the company's stock, valued at $3,876,080. This trade represents a 11.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Greg D. Bertrand sold 21,844 shares of the firm's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $1,747,520.00. Following the sale, the executive vice president now directly owns 60,581 shares in the company, valued at $4,846,480. This represents a 26.50 % 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 valued at $2,786,971 over the last three months. 0.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SYY. JPMorgan Chase & Co. upped their price target on Sysco from $85.00 to $88.00 and gave the stock an "overweight" rating in a research note on Monday, September 16th. Wells Fargo & Company cut 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. StockNews.com raised shares of Sysco from a "buy" rating to a "strong-buy" rating in a report on Tuesday. Finally, Jefferies Financial Group increased their price target on shares of Sysco from $91.00 to $92.00 and gave the stock a "buy" rating in a report on Wednesday, September 25th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Sysco presently has a consensus rating of "Moderate Buy" and an average price target of $85.77.

Sysco Price Performance

Shares of SYY stock traded up $0.20 during mid-day trading on Friday, reaching $79.96. The stock had a trading volume of 2,509,126 shares, compared to its average volume of 3,154,099. The company has a market cap of $39.28 billion, a P/E ratio of 20.56, a price-to-earnings-growth ratio of 2.11 and a beta of 1.19. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.89. The business has a 50-day simple moving average of $76.40 and a 200 day simple moving average of $75.17.

Sysco (NYSE:SYY - Get Free Report) last announced its earnings results 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). The business 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 quarter in the previous year, the firm posted $1.07 EPS. On average, sell-side analysts anticipate that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Dividend Announcement

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 given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco's payout ratio is 52.44%.

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.