Houlihan Financial Resource Group Ltd. Buys Shares of 4,377 Sysco Co. (NYSE:SYY)

Houlihan Financial Resource Group Ltd. purchased a new position in Sysco Co. (NYSE:SYY) in the third quarter, HoldingsChannel.com reports. The fund purchased 4,377 shares of the company’s stock, valued at approximately $342,000.

A number of other large investors have also made changes to their positions in SYY. Capital World Investors boosted its holdings 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 valued at $891,758,000 after purchasing an additional 1,637,232 shares during the last quarter. Ameriprise Financial Inc. grew its position in Sysco by 26.1% during the second quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock valued at $615,076,000 after acquiring an additional 1,782,180 shares during the period. Capital Research Global Investors increased its stake in Sysco by 112.8% during the first 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 during the last quarter. Diamond Hill Capital Management Inc. lifted its stake 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 valued at $429,240,000 after purchasing an additional 1,997,895 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in 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 purchasing an additional 2,408,226 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Activity

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,638,670.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Sysco Price Performance

Shares of SYY opened at $77.39 on Friday. 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 firm has a market cap of $38.02 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 2.03 and a beta of 1.20. Sysco Co. has a 52 week low of $66.27 and a 52 week high of $82.89. The stock has a 50 day moving average of $76.14 and a 200-day moving average of $74.76.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) 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 the consensus estimate of $20.47 billion. During the same quarter in the previous year, the business posted $1.07 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, analysts forecast that Sysco Co. will post 4.57 EPS for the current year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend was Friday, October 4th. Sysco’s payout ratio is 52.44%.

Wall Street Analysts Forecast Growth

SYY has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Jefferies Financial Group boosted their price objective on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Barclays raised their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Bank of America lowered their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Finally, StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and an average target price of $85.77.

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.