Diamond Hill Capital Management Inc. Has $521.87 Million Stock Holdings in Sysco Co. (NYSE:SYY)

Diamond Hill Capital Management Inc. grew its stake in shares of Sysco Co. (NYSE:SYY - Free Report) by 11.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,685,547 shares of the company's stock after purchasing an additional 672,940 shares during the quarter. Sysco makes up approximately 2.1% of Diamond Hill Capital Management Inc.'s portfolio, making the stock its 10th biggest position. Diamond Hill Capital Management Inc. owned 1.36% of Sysco worth $521,874,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. National Pension Service lifted its stake in shares of Sysco by 15.6% in the 3rd quarter. National Pension Service now owns 1,237,017 shares of the company's stock worth $96,562,000 after purchasing an additional 166,798 shares during the period. ORG Partners LLC lifted its position in Sysco by 3,159.0% during the second quarter. ORG Partners LLC now owns 7,072 shares of the company's stock valued at $495,000 after acquiring an additional 6,855 shares during the last quarter. Mizuho Markets Americas LLC boosted its holdings in shares of Sysco by 102.1% in the 1st quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company's stock valued at $11,355,000 after acquiring an additional 70,660 shares during the last quarter. Wedge Capital Management L L P NC lifted its stake in shares of Sysco by 11.6% in the 2nd quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company's stock valued at $12,577,000 after purchasing an additional 18,296 shares during the period. Finally, Shell Asset Management Co. increased its stake in shares of Sysco by 205.0% during the first quarter. Shell Asset Management Co. now owns 14,305 shares of the company's stock worth $1,161,000 after purchasing an additional 9,615 shares in the last quarter. Institutional investors own 83.41% of the company's stock.

Sysco Stock Performance

Shares of Sysco stock traded up $0.87 on Monday, hitting $78.26. The stock had a trading volume of 726,224 shares, compared to its average volume of 3,160,573. 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 stock has a market cap of $38.44 billion, a price-to-earnings ratio of 19.89, a P/E/G ratio of 2.03 and a beta of 1.20. The company's 50 day moving average price is $76.14 and its 200 day moving average price is $74.72. Sysco Co. has a 52-week low of $66.87 and a 52-week high of $82.89.

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). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The firm had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.47 billion. During the same quarter last year, the business posted $1.07 EPS. The firm's revenue was up 4.4% compared to the same quarter last year. On average, research analysts anticipate that Sysco Co. will post 4.57 EPS for the current year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.61%. Sysco's dividend payout ratio is presently 52.44%.

Analysts Set New Price Targets

Several research firms recently commented on SYY. 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. Bank of America lowered their price objective on shares of Sysco from $91.00 to $87.00 and set a "buy" rating for the company in a research report on Thursday, July 18th. Morgan Stanley cut their price target on Sysco from $82.00 to $81.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 16th. Barclays lifted their price target on Sysco from $85.00 to $88.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group upped their price target on shares of Sysco from $91.00 to $92.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Sysco presently has an average rating of "Moderate Buy" and an average price target of $85.77.

Insider Buying and Selling at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the firm's 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 sale, the senior vice president now owns 48,451 shares of the company's stock, valued at $3,638,670.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.54% of the company's stock.

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.