Fisher Asset Management LLC Sells 240 Shares of Sysco Co. (NYSE:SYY)

Fisher Asset Management LLC lessened its stake in shares of Sysco Co. (NYSE:SYY) by 2.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,892 shares of the company’s stock after selling 240 shares during the period. Fisher Asset Management LLC’s holdings in Sysco were worth $928,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. National Pension Service grew its stake in shares of Sysco by 15.6% in the third quarter. National Pension Service now owns 1,237,017 shares of the company’s stock valued at $96,562,000 after buying an additional 166,798 shares in the last quarter. New England Asset Management Inc. grew its position in shares of Sysco by 12.7% in the 3rd quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock valued at $10,254,000 after acquiring an additional 14,810 shares during the period. ORG Partners LLC increased its position in Sysco by 3,159.0% during the second quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock worth $495,000 after buying an additional 6,855 shares during the last quarter. Empowered Funds LLC raised its stake in Sysco by 29.0% in the third quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock valued at $6,115,000 after buying an additional 17,587 shares during the period. Finally, Diamond Hill Capital Management Inc. lifted its position in shares of Sysco by 11.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after buying an additional 672,940 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Price Performance

Shares of NYSE:SYY opened at $77.11 on Friday. The firm has a 50 day moving average of $75.78 and a 200-day moving average of $74.79. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.89. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The stock has a market capitalization of $37.88 billion, a PE ratio of 19.82, a PEG ratio of 2.01 and a beta of 1.20.

Sysco (NYSE:SYY) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.07 earnings per share. On average, equities research analysts predict 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 will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Friday, January 3rd. Sysco’s dividend payout ratio is presently 52.44%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SYY shares. Jefferies Financial Group boosted their target price on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. JPMorgan Chase & Co. boosted their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, Wells Fargo & Company lowered their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Two 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 target price of $85.77.

Insiders Place Their Bets

In other Sysco news, 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 transaction of $303,103.60. Following the sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at approximately $3,638,670.10. The trade was a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sheila Talton sold 2,900 shares of the 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 completion of the transaction, the director now owns 12,955 shares of the company’s stock, valued at $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.