Coldstream Capital Management Inc. Acquires 2,249 Shares of Sysco Co. (NYSE:SYY)

Coldstream Capital Management Inc. raised its holdings in shares of Sysco Co. (NYSE:SYY) by 28.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,096 shares of the company’s stock after purchasing an additional 2,249 shares during the period. Coldstream Capital Management Inc.’s holdings in Sysco were worth $785,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SYY. Vestcor Inc lifted its stake in Sysco by 53.5% in the third quarter. Vestcor Inc now owns 41,937 shares of the company’s stock worth $3,274,000 after acquiring an additional 14,614 shares during the period. Conway Capital Management Inc. purchased a new stake in shares of Sysco in the 3rd quarter worth about $295,000. Barclays PLC boosted its stake in shares of Sysco by 43.2% during the 3rd quarter. Barclays PLC now owns 1,715,356 shares of the company’s stock valued at $133,902,000 after purchasing an additional 517,219 shares in the last quarter. Geller Advisors LLC increased its position in shares of Sysco by 14.2% during the third quarter. Geller Advisors LLC now owns 8,946 shares of the company’s stock valued at $698,000 after buying an additional 1,111 shares during the period. Finally, Groupama Asset Managment raised its stake in Sysco by 0.6% in the third quarter. Groupama Asset Managment now owns 31,949 shares of the company’s stock worth $2,494,000 after buying an additional 197 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

Shares of SYY opened at $79.71 on Friday. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.89. The company has a market capitalization of $39.16 billion, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 2.11 and a beta of 1.19. The firm has a 50 day moving average of $76.24 and a 200 day moving average of $75.09. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share 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 during the quarter, compared to analysts’ expectations of $20.47 billion. During the same quarter in the prior year, the firm earned $1.07 EPS. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Dividend Announcement

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 paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.56%. Sysco’s dividend payout ratio is presently 52.44%.

Analysts Set New Price Targets

SYY has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Wells Fargo & Company reduced their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Jefferies Financial Group upped 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. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Sysco has an average rating of “Moderate Buy” and a consensus target price of $85.77.

Insider Activity

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now directly owns 48,451 shares in the company, valued at $3,638,670.10. This trade represents a 7.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the sale, the director now owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,279 shares of company stock valued at $2,786,971 over the last three months. Insiders own 0.54% of the company’s stock.

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.