Carrera Capital Advisors Takes $1.26 Million Position in Sysco Co. (NYSE:SYY)

Carrera Capital Advisors purchased a new position in shares of Sysco Co. (NYSE:SYY) during the third quarter, Holdings Channel reports. The firm purchased 16,165 shares of the company’s stock, valued at approximately $1,262,000.

A number of other hedge funds also recently bought and sold shares of SYY. National Pension Service grew its stake in Sysco by 15.6% in the 3rd quarter. National Pension Service now owns 1,237,017 shares of the company’s stock valued at $96,562,000 after acquiring an additional 166,798 shares during the period. ORG Partners LLC raised its stake in Sysco by 3,159.0% during the second quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock worth $495,000 after purchasing an additional 6,855 shares during the period. Mizuho Markets Americas LLC boosted its holdings in 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 purchasing an additional 70,660 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in 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 last quarter. Finally, Shell Asset Management Co. increased its holdings in shares of Sysco by 205.0% during the 1st quarter. Shell Asset Management Co. now owns 14,305 shares of the company’s stock worth $1,161,000 after buying an additional 9,615 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction 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 sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,638,670.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is owned by company insiders.

Sysco Trading Up 0.3 %

Sysco stock traded up $0.25 during midday trading on Tuesday, reaching $78.19. The stock had a trading volume of 484,286 shares, compared to its average volume of 3,154,967. The stock’s 50-day simple moving average is $76.14 and its 200 day simple moving average is $74.73. The stock has a market capitalization of $38.41 billion, a PE ratio of 20.04, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. Sysco Co. has a twelve month low of $66.87 and a twelve month high of $82.89.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The company had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.47 billion. During the same quarter in the previous year, the business posted $1.07 earnings per share. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. Analysts expect that Sysco Co. will post 4.57 EPS for the current year.

Sysco Announces Dividend

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

Analyst Ratings Changes

Several brokerages recently weighed in on SYY. Bank of America lowered their price objective on 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 objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. JPMorgan Chase & Co. upped their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Barclays lifted their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus 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.