Sysco Corporation $SYY Position Lifted by Machina Capital S.A.S.

Machina Capital S.A.S. raised its position in Sysco Corporation (NYSE:SYY) by 80.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 120,690 shares of the company’s stock after purchasing an additional 53,905 shares during the period. Sysco makes up about 1.2% of Machina Capital S.A.S.’s investment portfolio, making the stock its 4th biggest holding. Machina Capital S.A.S.’s holdings in Sysco were worth $9,409,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Sunbelt Securities Inc. boosted its position in shares of Sysco by 87.6% during the first quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock worth $26,000 after purchasing an additional 170 shares in the last quarter. Salomon & Ludwin LLC grew its holdings in shares of Sysco by 718.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 352 shares of the company’s stock valued at $27,000 after buying an additional 309 shares during the period. N.E.W. Advisory Services LLC bought a new stake in shares of Sysco in the 2nd quarter valued at $29,000. Markowski Investments bought a new stake in shares of Sysco in the 2nd quarter valued at $31,000. Finally, Parvin Asset Management LLC acquired a new stake in Sysco during the 2nd quarter worth $32,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on SYY. Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a report on Saturday, October 24th. Sanford C. Bernstein reissued a “market perform” rating on shares of Sysco in a research note on Wednesday, November 4th. JPMorgan Chase & Co. lowered their price target on Sysco from $95.00 to $92.00 in a report on Wednesday, November 4th. Morgan Stanley raised their price target on Sysco from $88.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 15th. Finally, Guggenheim reiterated a “buy” rating and set a $90.00 price objective on shares of Sysco in a report on Wednesday, September 16th. Eleven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and an average price target of $91.13.

Sysco Trading Down 1.0%

NYSE SYY opened at $77.57 on Wednesday. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.95 and a current ratio of 1.46. The stock’s 50 day moving average price is $79.75 and its two-hundred day moving average price is $80.51. The stock has a market capitalization of $38.19 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 1.92 and a beta of 0.66.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $1.19 earnings per share for the quarter, hitting the consensus estimate of $1.19. The company had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $22.02 billion. Sysco had a net margin of 2.12% and a return on equity of 79.24%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the business earned $1.15 EPS. As a group, analysts anticipate that Sysco Corporation will post 5.06 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, October 2nd. Sysco’s payout ratio is currently 58.51%.

Insider Buying and Selling at Sysco

In other Sysco news, Director Thomas Gerard Ondrof bought 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The stock was acquired at an average price of $76.62 per share, with a total value of $191,550.00. Following the completion of the transaction, the director owned 2,500 shares in the company, valued at approximately $191,550. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ronald L. Phillips sold 7,350 shares of Sysco stock in a transaction on Friday, August 21st. The shares were sold at an average price of $83.61, for a total transaction of $614,533.50. Following the completion of the sale, the executive vice president owned 38,650 shares in the company, valued at $3,231,526.50. The trade was a 15.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 8,873 shares of company stock valued at $741,569 in the last 90 days. 0.55% of the stock is currently owned by corporate insiders.

About Sysco

Sysco Corporation is a food distribution company headquartered in Houston, Texas. Founded in 1969, it supplies food and related products to customers in the foodservice and hospitality industries. The company distributes fresh and frozen foods, meat, seafood, produce, dairy products, and pantry staples, as well as kitchen equipment, cleaning supplies, and other nonfood items. Its customers include restaurants, health care and educational facilities, lodging businesses, and other organizations that prepare and serve meals.