Sysco Corporation $SYY Stock Acquired by Woodley Farra Manion Portfolio Management Inc.

Woodley Farra Manion Portfolio Management Inc. increased its holdings in Sysco Corporation (NYSE:SYY) by 11.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,669 shares of the company’s stock after purchasing an additional 6,533 shares during the period. Woodley Farra Manion Portfolio Management Inc.’s holdings in Sysco were worth $5,120,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SYY. Lido Advisors LLC lifted its holdings in shares of Sysco by 8.7% during the third quarter. Lido Advisors LLC now owns 24,600 shares of the company’s stock valued at $1,918,000 after acquiring an additional 1,974 shares during the period. Keybank National Association OH boosted its stake in shares of Sysco by 4.2% in the 3rd quarter. Keybank National Association OH now owns 21,017 shares of the company’s stock valued at $1,638,000 after purchasing an additional 846 shares in the last quarter. D.B. Root & Company LLC grew its holdings in shares of Sysco by 1.9% in the 3rd quarter. D.B. Root & Company LLC now owns 6,974 shares of the company’s stock worth $544,000 after purchasing an additional 131 shares during the last quarter. AlphaCore Capital LLC grew its holdings in shares of Sysco by 31.9% in the 3rd quarter. AlphaCore Capital LLC now owns 10,713 shares of the company’s stock worth $835,000 after purchasing an additional 2,592 shares during the last quarter. Finally, Fulcrum Asset Management LLP increased its position in shares of Sysco by 28,534.4% during the 3rd quarter. Fulcrum Asset Management LLP now owns 9,163 shares of the company’s stock worth $719,000 after purchasing an additional 9,131 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SYY shares. BMO Capital Markets lifted their price target on shares of Sysco from $90.00 to $98.00 in a report on Wednesday, August 5th. Wall Street Zen cut shares of Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, October 24th. JPMorgan Chase & Co. decreased their price objective on shares of Sysco from $95.00 to $92.00 in a research note on Wednesday, November 4th. UBS Group raised their price objective on shares of Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Citigroup cut their target price on shares of Sysco from $87.00 to $84.00 and set a “neutral” rating for the company in a research note on Thursday, November 5th. Eleven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $91.13.

Insider Transactions at Sysco

In other news, EVP Ronald Phillips sold 7,350 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $83.61, for a total transaction of $614,533.50. Following the transaction, the executive vice president directly owned 38,650 shares in the company, valued at approximately $3,231,526.50. This represents a 15.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Thomas Gerard Ondrof purchased 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The shares were bought at an average cost of $76.62 per share, for a total transaction of $191,550.00. Following the completion of the purchase, the director directly owned 2,500 shares of the company’s stock, valued at $191,550. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders sold 8,873 shares of company stock valued at $741,569. Insiders own 0.55% of the company’s stock.

Sysco Price Performance

Shares of SYY stock opened at $77.57 on Wednesday. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85. The stock has a market capitalization of $38.19 billion, a PE ratio of 20.63, a PEG ratio of 1.92 and a beta of 0.66. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.95 and a current ratio of 1.46. The stock’s fifty day moving average is $79.75 and its 200-day moving average is $80.51.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $1.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.19. The business had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $22.02 billion. Sysco had a return on equity of 79.24% and a net margin of 2.12%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.15 earnings per share. Equities research analysts expect that Sysco Corporation will post 5.06 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, October 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.8%. Sysco’s payout ratio is currently 58.51%.

Sysco Profile

Sysco Corporation is a food distribution company headquartered in Houston, Texas. Founded in 1969, it supplies food and related products to customers in the foodservice and hospitality industries. The company distributes fresh and frozen foods, meat, seafood, produce, dairy products, and pantry staples, as well as kitchen equipment, cleaning supplies, and other nonfood items. Its customers include restaurants, health care and educational facilities, lodging businesses, and other organizations that prepare and serve meals.