Sysco Co. (NYSE:SYY) Stock Position Increased by KKM Financial LLC

KKM Financial LLC boosted its position in Sysco Co. (NYSE:SYY) by 6.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,415 shares of the company’s stock after purchasing an additional 1,840 shares during the quarter. KKM Financial LLC’s holdings in Sysco were worth $2,374,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SYY. ProShare Advisors LLC raised its position in shares of Sysco by 103.0% during the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock worth $338,830,000 after buying an additional 2,408,226 shares in the last quarter. Swedbank AB bought a new stake in shares of Sysco during the 1st quarter worth about $178,824,000. Diamond Hill Capital Management Inc. raised its position in shares of Sysco by 49.8% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock worth $429,240,000 after buying an additional 1,997,895 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Sysco by 26.1% during the 2nd 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Sysco during the 3rd quarter worth about $137,900,000. 83.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,638,670.10. This represents a 7.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the transaction, the director now owns 12,955 shares in the company, valued at approximately $966,831.65. This represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on SYY. Jefferies Financial Group boosted their price target 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. JPMorgan Chase & Co. boosted their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. Wells Fargo & Company cut their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Finally, Barclays increased their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Two 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, Sysco has a consensus rating of “Moderate Buy” and a consensus target price of $85.77.

Sysco Stock Up 0.9 %

Shares of NYSE:SYY opened at $75.79 on Friday. 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 company has a market cap of $37.23 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 1.97 and a beta of 1.20. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.89. The firm has a 50 day simple moving average of $75.69 and a 200 day simple moving average of $74.74.

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

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders 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 annualized dividend and a yield of 2.69%. Sysco’s dividend payout ratio is presently 52.44%.

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.