Sysco Co. (NYSE:SYY) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in Sysco Co. (NYSE:SYY - Free Report) by 3.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 608,135 shares of the company's stock after buying an additional 22,513 shares during the period. Principal Financial Group Inc. owned about 0.12% of Sysco worth $47,471,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Capital Research Global Investors boosted its holdings in shares of Sysco by 112.8% during the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company's stock worth $536,770,000 after purchasing an additional 3,504,740 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Sysco by 103.0% during 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 during the last quarter. Swedbank AB acquired a new position in shares of Sysco during the 1st quarter worth approximately $178,824,000. Diamond Hill Capital Management Inc. boosted its holdings in shares of Sysco by 49.8% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company's stock worth $429,240,000 after purchasing an additional 1,997,895 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of 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 purchasing an additional 1,782,180 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Up 0.7 %

Shares of NYSE:SYY traded up $0.55 during trading on Monday, hitting $77.94. The company's stock had a trading volume of 2,148,752 shares, compared to its average volume of 3,167,218. The business has a 50 day moving average price of $76.14 and a two-hundred day moving average price of $74.72. The company has a market capitalization of $38.29 billion, a PE ratio of 19.89, a P/E/G ratio of 2.03 and a beta of 1.20. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. Sysco Co. has a fifty-two week low of $66.87 and a fifty-two week high of $82.89.

Sysco (NYSE:SYY - Get Free Report) last posted 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 business had revenue of $20.48 billion during 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 last year, the firm earned $1.07 EPS. As a group, research analysts expect that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were paid a $0.51 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.62%. Sysco's dividend payout ratio (DPR) is 52.44%.

Wall Street Analyst Weigh In

Several analysts have recently commented on SYY shares. Bank of America reduced their price target on shares of Sysco from $91.00 to $87.00 and set a "buy" rating on the stock in a research report on Thursday, July 18th. Wells Fargo & Company reduced their price target 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 lowered shares of Sysco from a "strong-buy" rating to a "buy" rating in a research report on Monday, October 21st. Barclays lifted their price target 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. Finally, Jefferies Financial Group lifted their price target 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. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $85.77.

Insiders Place Their Bets

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the business's stock in a transaction on Friday, November 1st. The shares were 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 owns 48,451 shares in the company, valued at approximately $3,638,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.