Quantinno Capital Management LP Purchases 29,050 Shares of Sysco Co. (NYSE:SYY)

Quantinno Capital Management LP grew its position in shares of Sysco Co. (NYSE:SYY - Free Report) by 92.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,394 shares of the company's stock after acquiring an additional 29,050 shares during the quarter. Quantinno Capital Management LP's holdings in Sysco were worth $4,714,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Parallax Volatility Advisers L.P. acquired a new position in shares of Sysco during the third quarter valued at about $2,156,000. Morse Asset Management Inc purchased a new position in shares of Sysco during the third quarter valued at approximately $390,000. IHT Wealth Management LLC boosted its holdings in Sysco by 45.5% during the 3rd quarter. IHT Wealth Management LLC now owns 6,797 shares of the company's stock worth $530,000 after acquiring an additional 2,124 shares during the last quarter. Investment Management Corp of Ontario grew its stake in shares of Sysco by 49.8% in the 3rd quarter. Investment Management Corp of Ontario now owns 16,547 shares of the company's stock worth $1,292,000 after acquiring an additional 5,500 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Sysco by 4.1% during the third quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company's stock worth $332,983,000 after purchasing an additional 168,163 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on SYY shares. Jefferies Financial Group lifted their target price on shares of Sysco from $91.00 to $92.00 and gave the stock a "buy" rating in a research report on Wednesday, September 25th. StockNews.com downgraded Sysco from a "strong-buy" rating to a "buy" rating in a research note on Monday, October 21st. JPMorgan Chase & Co. lifted their target price on Sysco from $85.00 to $88.00 and gave the stock an "overweight" rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company cut their price target on shares of Sysco from $87.00 to $82.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $85.77.

Insider Transactions at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 21,844 shares of Sysco 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 completion of the sale, the executive vice president now owns 60,581 shares of the company's stock, valued at $4,846,480. The trade was a 26.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 sale, the director now directly owns 12,955 shares of the company's stock, valued at approximately $966,831.65. This represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,279 shares of company stock valued at $2,786,971. Insiders own 0.54% of the company's stock.

Sysco Price Performance

Shares of SYY traded down $1.04 during mid-day trading on Friday, reaching $80.73. 4,833,246 shares of the stock traded hands, compared to its average volume of 2,577,383. The company has a market cap of $39.66 billion, a price-to-earnings ratio of 20.75, a price-to-earnings-growth ratio of 2.11 and a beta of 1.19. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.89. The firm has a fifty day moving average price of $76.06 and a 200 day moving average price of $74.92. 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 (NYSE:SYY - Get Free Report) last issued its quarterly 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 the consensus estimate of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The business's revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 EPS. As a group, equities research analysts predict that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Friday, January 3rd. Sysco's payout ratio is 52.44%.

About Sysco

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.