Sysco Co. (NYSE:SYY) Shares Bought by State Street Corp

State Street Corp raised its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 11.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,294,612 shares of the company's stock after buying an additional 2,721,449 shares during the period. State Street Corp owned about 5.56% of Sysco worth $2,130,617,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SYY. ProShare Advisors LLC lifted its holdings in Sysco by 103.0% during the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company's stock worth $338,830,000 after buying an additional 2,408,226 shares during the period. Diamond Hill Capital Management Inc. raised its stake in Sysco by 49.8% in the second quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company's stock valued at $429,240,000 after buying an additional 1,997,895 shares during the last quarter. Ameriprise Financial Inc. lifted its stake 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 worth $615,076,000 after buying an additional 1,782,180 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in Sysco during the 3rd quarter valued at about $137,900,000. Finally, Primecap Management Co. CA lifted its stake in Sysco by 37.5% during the 2nd quarter. Primecap Management Co. CA now owns 4,373,485 shares of the company's stock valued at $312,223,000 after acquiring an additional 1,192,650 shares during the period. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Sysco

In related news, Director Sheila Talton sold 2,900 shares of the company's 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 completion of the transaction, the director now directly owns 12,955 shares of the company's stock, valued at $966,831.65. This represents a 18.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Eve M. Mcfadden sold 6,499 shares of the company's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the completion of the sale, the senior vice president now directly owns 48,451 shares of the company's stock, valued at approximately $3,876,080. This trade represents a 11.83 % decrease in their ownership of the stock. 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 quarter. Company insiders own 0.54% of the company's stock.

Sysco Price Performance

Shares of SYY traded down $0.54 during trading hours on Friday, hitting $81.23. 1,156,978 shares of the stock were exchanged, compared to its average volume of 3,143,607. The stock's 50-day moving average price is $76.00 and its two-hundred day moving average price is $74.89. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The company has a market cap of $39.90 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 2.09 and a beta of 1.19. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.89.

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). The business had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. Sysco's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company earned $1.07 earnings per share. Research analysts expect 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. Investors of record on Friday, January 3rd will be issued a $0.51 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.51%. Sysco's dividend payout ratio is presently 52.44%.

Analyst Upgrades and Downgrades

SYY has been the subject of several recent research reports. Wells Fargo & Company reduced their price target on Sysco from $87.00 to $82.00 and set an "overweight" rating for the company in a research report on Wednesday, October 30th. Jefferies Financial Group boosted their target price on shares of Sysco from $91.00 to $92.00 and gave the company a "buy" rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. lifted their price objective 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, StockNews.com cut Sysco from a "strong-buy" rating to a "buy" rating in a research report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $85.77.

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.