Paradiem LLC Buys New Position in Sysco Co. (NYSE:SYY)

Paradiem LLC bought a new stake in shares of Sysco Co. (NYSE:SYY) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 163,978 shares of the company’s stock, valued at approximately $12,538,000. Sysco makes up approximately 3.4% of Paradiem LLC’s holdings, making the stock its 6th largest holding.

Several other hedge funds also recently added to or reduced their stakes in the business. State Street Corp boosted its stake 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 worth $2,130,617,000 after buying an additional 2,721,449 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Sysco by 26.1% in the second quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock worth $615,076,000 after buying an additional 1,782,180 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Sysco in the third quarter worth about $137,900,000. Nordea Investment Management AB boosted its stake in shares of Sysco by 52.3% in the fourth quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock worth $208,666,000 after buying an additional 933,327 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its position 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 in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the sale, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Eve M. Mcfadden sold 4,036 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the sale, the senior vice president now owns 48,451 shares in the company, valued at $3,638,670.10. This represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,306 shares of company stock worth $6,485,050. 0.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SYY has been the topic of a number of recent analyst reports. Melius initiated coverage on Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target on the stock. Melius Research upgraded Sysco to a “hold” rating in a research report on Wednesday, December 18th. Morgan Stanley reduced their target price on Sysco from $82.00 to $79.00 and set an “equal weight” rating for the company in a report on Tuesday. Jefferies Financial Group increased their target price on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Finally, StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a report on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.79.

Sysco Trading Down 0.1 %

Shares of Sysco stock opened at $73.41 on Thursday. The firm has a market capitalization of $36.06 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 2.05 and a beta of 1.18. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.89. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The stock has a 50 day moving average of $76.54 and a 200 day moving average of $75.90.

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

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.78%. Sysco’s dividend payout ratio is presently 52.44%.

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.