Tidal Investments LLC Increases Holdings in Sysco Co. (NYSE:SYY)

Tidal Investments LLC increased its position in shares of Sysco Co. (NYSE:SYY - Free Report) by 51.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,030 shares of the company's stock after buying an additional 12,550 shares during the period. Tidal Investments LLC's holdings in Sysco were worth $2,891,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company's stock valued at $2,130,617,000 after purchasing an additional 2,721,449 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Sysco by 26.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company's stock worth $615,076,000 after acquiring an additional 1,782,180 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in Sysco by 11.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company's stock worth $521,874,000 after purchasing an additional 672,940 shares during the period. Primecap Management Co. CA lifted its holdings in Sysco by 9.7% in the third quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company's stock valued at $374,410,000 after acquiring an additional 422,954 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. grew its holdings in shares of Sysco by 8.5% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company's stock worth $366,789,000 after purchasing an additional 375,409 shares during the period. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Stock Performance

Shares of SYY stock traded down $0.71 during trading hours on Monday, hitting $79.25. The stock had a trading volume of 1,956,512 shares, compared to its average volume of 3,149,232. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The firm has a market capitalization of $38.93 billion, a PE ratio of 20.50, a PEG ratio of 2.10 and a beta of 1.19. The stock's 50 day moving average is $76.40 and its 200 day moving average is $75.21. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.89.

Sysco (NYSE:SYY - Get Free Report) last issued 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). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The business had revenue of $20.48 billion for the quarter, compared to analysts' expectations of $20.47 billion. During the same period in the previous year, the business posted $1.07 earnings per share. The company's revenue for the quarter was up 4.4% on a year-over-year basis. As a group, research analysts forecast that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a yield of 2.57%. Sysco's payout ratio is 52.44%.

Insider Buying and Selling at Sysco

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 transaction of $303,103.60. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares of the company's stock, valued at approximately $3,638,670.10. This represents a 7.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the company's stock in a transaction 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 transaction, the director now directly owns 12,955 shares in the company, valued at $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 have sold 35,279 shares of company stock worth $2,786,971. 0.54% of the stock is currently owned by insiders.

Analyst Ratings Changes

SYY has been the topic of a number of research analyst reports. Wells Fargo & Company cut their target price on Sysco from $87.00 to $82.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a "buy" rating in a report on Monday. StockNews.com raised Sysco from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. raised 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. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Sysco currently has an average rating of "Moderate Buy" and a consensus target price of $86.00.

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.