Van ECK Associates Corp Acquires 4,088 Shares of Sysco Co. (NYSE:SYY)

Van ECK Associates Corp grew its holdings in Sysco Co. (NYSE:SYY) by 2.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 155,272 shares of the company’s stock after buying an additional 4,088 shares during the quarter. Van ECK Associates Corp’s holdings in Sysco were worth $11,588,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. TruNorth Capital Management LLC bought a new stake in Sysco during the 2nd quarter valued at $25,000. Armstrong Advisory Group Inc. lifted its holdings in Sysco by 1,240.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after purchasing an additional 310 shares in the last quarter. Fairscale Capital LLC bought a new position in Sysco in the 2nd quarter worth about $38,000. Canoe Financial LP bought a new stake in shares of Sysco during the third quarter valued at about $38,000. Finally, LRI Investments LLC purchased a new stake in shares of Sysco in the first quarter worth about $45,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sysco

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the company’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 approximately $3,638,670.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Sysco Stock Performance

Sysco stock opened at $76.35 on Wednesday. The firm has a fifty day simple moving average of $76.16 and a two-hundred day simple moving average of $74.72. Sysco Co. has a twelve month low of $66.27 and a twelve month high of $82.89. The company has a market capitalization of $37.51 billion, a PE ratio of 19.63, a P/E/G ratio of 1.97 and a beta of 1.20. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38.

Sysco (NYSE:SYY) last issued its earnings results 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 company had revenue of $20.48 billion for 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 company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.07 earnings per share. Research analysts expect that Sysco Co. will post 4.57 EPS for the current year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.67%. Sysco’s dividend payout ratio is currently 52.44%.

Wall Street Analyst Weigh In

SYY has been the topic of a number of analyst reports. Wells Fargo & Company decreased their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Morgan Stanley lowered their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Jefferies Financial Group boosted their target price on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Barclays raised their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.