River Road Asset Management LLC Sells 4,530 Shares of Sysco Co. (NYSE:SYY)

by · The Markets Daily

River Road Asset Management LLC reduced its stake in shares of Sysco Co. (NYSE:SYY – Free Report) by 4.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 109,812 shares of the company’s stock after selling 4,530 shares during the period. River Road Asset Management LLC’s holdings in Sysco were worth $8,572,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Capital World Investors raised its position in shares of Sysco by 17.5% in the 1st quarter. Capital World Investors now owns 10,984,950 shares of the company’s stock worth $891,758,000 after acquiring an additional 1,637,232 shares in the last quarter. Ameriprise Financial Inc. raised its position 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 in the last quarter. Capital Research Global Investors raised its position in shares of Sysco by 112.8% in the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock worth $536,770,000 after acquiring an additional 3,504,740 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of Sysco by 49.8% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock worth $429,240,000 after acquiring an additional 1,997,895 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in shares of Sysco by 103.0% in the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock worth $338,830,000 after acquiring an additional 2,408,226 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Sysco Price Performance

SYY stock opened at $76.35 on Wednesday. The company has a market capitalization of $37.51 billion, a P/E ratio of 19.63, a price-to-earnings-growth ratio of 1.98 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 52-week low of $66.27 and a 52-week high of $82.89. The business has a 50-day simple moving average of $76.16 and a two-hundred day simple moving average of $74.72.

Sysco (NYSE:SYY – Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates 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 previous year, the firm earned $1.07 EPS. Sysco’s quarterly revenue was up 4.4% on a year-over-year basis. Research analysts expect that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were paid a $0.51 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.67%. Sysco’s payout ratio is presently 52.44%.

Analyst Ratings Changes

Several research firms have recently weighed in on SYY. Morgan Stanley lowered 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. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. Barclays raised their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Bank of America reduced their target price on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, Jefferies Financial Group raised their target price on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $85.77.

Check Out Our Latest Stock Analysis on Sysco

Insider Transactions at Sysco

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

Sysco Company Profile

(Free Report)

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.

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