Empowered Funds LLC Purchases 17,587 Shares of Sysco Co. (NYSE:SYY)

Empowered Funds LLC boosted its position in shares of Sysco Co. (NYSE:SYY - Free Report) by 29.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 78,333 shares of the company's stock after acquiring an additional 17,587 shares during the quarter. Empowered Funds LLC's holdings in Sysco were worth $6,115,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Armstrong Advisory Group Inc. increased its position 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 buying an additional 310 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Sysco in the third quarter worth about $26,000. TruNorth Capital Management LLC purchased a new stake in Sysco in the second quarter worth about $25,000. Focused Wealth Management Inc purchased a new stake in Sysco in the third quarter worth about $37,000. Finally, Canoe Financial LP purchased a new stake in Sysco in the third quarter worth about $38,000. Hedge funds and other institutional investors own 83.41% of the company's stock.

Sysco Trading Down 0.0 %

Shares of NYSE:SYY traded down $0.01 during trading on Friday, hitting $74.95. The company had a trading volume of 2,636,588 shares, compared to its average volume of 3,109,526. The stock has a market cap of $36.82 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 1.97 and a beta of 1.20. Sysco Co. has a one year low of $69.03 and a one year high of $82.89. The company has a fifty day simple moving average of $75.93 and a two-hundred day simple moving average of $74.74. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.04). The company had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. Sysco's revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.07 earnings per share. As a group, equities analysts forecast that Sysco Co. will post 4.57 earnings per share for the current year.

Insider Activity

In other news, 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 sale, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SYY. JPMorgan Chase & Co. upped their price objective on Sysco from $85.00 to $88.00 and gave the stock an "overweight" rating in a research note on Monday, September 16th. StockNews.com lowered Sysco from a "strong-buy" rating to a "buy" rating in a research note on Monday, October 21st. Wells Fargo & Company dropped their price objective on Sysco from $87.00 to $82.00 and set an "overweight" rating for the company in a research note on Wednesday, October 30th. Barclays upped their price objective 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 objective on Sysco from $91.00 to $92.00 and gave the stock a "buy" rating in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Sysco presently has an average rating of "Moderate Buy" and a consensus price target of $85.77.

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.