Paradiem LLC Invests $12.54 Million in Sysco Co. (NYSE:SYY)

Paradiem LLC acquired a new position in shares of Sysco Co. (NYSE:SYY) in the 4th quarter, HoldingsChannel reports. The fund acquired 163,978 shares of the company’s stock, valued at approximately $12,538,000. Sysco comprises approximately 3.4% of Paradiem LLC’s holdings, making the stock its 6th biggest position.

Several other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp boosted its position in shares of Sysco by 11.1% during the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock worth $2,130,617,000 after acquiring an additional 2,721,449 shares in the last quarter. Ameriprise Financial Inc. raised its stake 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. Diamond Hill Capital Management Inc. raised its stake in shares of Sysco by 11.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after buying an additional 672,940 shares in the last quarter. Primecap Management Co. CA grew its holdings in shares of Sysco by 9.7% in the 3rd quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock worth $374,410,000 after acquiring an additional 422,954 shares during the period. Finally, Montrusco Bolton Investments Inc. grew its holdings in shares of Sysco by 8.5% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock worth $366,789,000 after acquiring an additional 375,409 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Down 0.1 %

SYY stock opened at $73.41 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.89. The company has a fifty day simple moving average of $76.54 and a 200 day simple moving average of $75.90. The firm has a market cap of $36.06 billion, a PE ratio of 18.87, a PEG ratio of 2.05 and a beta of 1.18.

Sysco (NYSE:SYY) last released 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). The firm had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.07 EPS. Sell-side analysts anticipate that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Friday, January 3rd. Sysco’s dividend payout ratio is currently 52.44%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Melius assumed coverage on Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price on the stock. Wells Fargo & Company cut their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Morgan Stanley lowered their target price on Sysco from $82.00 to $79.00 and set an “equal weight” rating for the company in a research note on Tuesday. Jefferies Financial Group lifted their target price on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Finally, Melius Research raised Sysco to a “hold” rating in a report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.79.

Insider Activity at Sysco

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

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.