HighTower Advisors LLC Acquires 9,373 Shares of Sysco Co. (NYSE:SYY)

HighTower Advisors LLC grew its holdings in shares of Sysco Co. (NYSE:SYYFree Report) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 413,958 shares of the company’s stock after purchasing an additional 9,373 shares during the period. HighTower Advisors LLC owned approximately 0.08% of Sysco worth $27,356,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vontobel Holding Ltd. increased its position in shares of Sysco by 166.0% in the 1st quarter. Vontobel Holding Ltd. now owns 16,127 shares of the company’s stock valued at $1,338,000 after acquiring an additional 10,065 shares during the period. Sei Investments Co. increased its position in shares of Sysco by 6.9% in the 1st quarter. Sei Investments Co. now owns 258,746 shares of the company’s stock valued at $21,068,000 after acquiring an additional 16,772 shares during the period. Cetera Investment Advisers increased its position in shares of Sysco by 12.9% in the 1st quarter. Cetera Investment Advisers now owns 22,139 shares of the company’s stock valued at $1,808,000 after acquiring an additional 2,522 shares during the period. Baird Financial Group Inc. increased its position in shares of Sysco by 1.0% in the 1st quarter. Baird Financial Group Inc. now owns 659,712 shares of the company’s stock valued at $53,865,000 after acquiring an additional 6,711 shares during the period. Finally, Parkside Financial Bank & Trust increased its position in shares of Sysco by 54.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 833 shares of the company’s stock valued at $68,000 after acquiring an additional 295 shares during the period. Hedge funds and other institutional investors own 80.60% of the company’s stock.

Wall Street Analyst Weigh In

SYY has been the topic of several analyst reports. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. Deutsche Bank Aktiengesellschaft initiated coverage on Sysco in a research report on Thursday, October 19th. They set a “buy” rating and a $75.00 price target on the stock. Stephens increased their price target on Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Morgan Stanley increased their price target on Sysco from $75.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 1st. Finally, Barclays increased their price target on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and an average price target of $85.44.

View Our Latest Stock Report on SYY

Insider Activity at Sysco

In related news, Director Sheila Talton sold 2,200 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $71.76, for a total value of $157,872.00. Following the transaction, the director now directly owns 12,782 shares of the company’s stock, valued at approximately $917,236.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.58% of the stock is currently owned by corporate insiders.

Sysco Price Performance

NYSE:SYY opened at $79.55 on Friday. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The company has a quick ratio of 0.80, a current ratio of 1.37 and a debt-to-equity ratio of 5.00. The stock has a market capitalization of $40.12 billion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 1.62 and a beta of 1.17. The stock’s 50-day moving average price is $75.48 and its 200-day moving average price is $71.37.

Sysco (NYSE:SYYGet Free Report) last posted its earnings results on Tuesday, January 30th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The firm had revenue of $19.29 billion for the quarter, compared to analysts’ expectations of $19.32 billion. During the same period last year, the firm earned $0.80 EPS. The company’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, equities analysts expect that Sysco Co. will post 4.3 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 5th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date was Thursday, January 4th. Sysco’s dividend payout ratio is presently 48.90%.

Sysco Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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