Woodley Farra Manion Portfolio Management Inc. Has $5.74 Million Position in SYSCO Co. (SYY)

Woodley Farra Manion Portfolio Management Inc. reduced its position in SYSCO Co. (NYSE:SYY) by 8.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,337 shares of the company’s stock after selling 7,549 shares during the period. Woodley Farra Manion Portfolio Management Inc.’s holdings in SYSCO were worth $5,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. First Republic Investment Management Inc. lifted its stake in shares of SYSCO by 1.3% in the 3rd quarter. First Republic Investment Management Inc. now owns 175,696 shares of the company’s stock valued at $12,870,000 after purchasing an additional 2,187 shares during the period. Renaissance Technologies LLC lifted its stake in shares of SYSCO by 342.2% in the 3rd quarter. Renaissance Technologies LLC now owns 1,977,518 shares of the company’s stock valued at $144,853,000 after purchasing an additional 1,530,318 shares during the period. Cpwm LLC acquired a new position in shares of SYSCO in the 3rd quarter valued at $207,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of SYSCO by 13.8% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 212,682 shares of the company’s stock valued at $15,579,000 after purchasing an additional 25,849 shares during the period. Finally, Honkamp Krueger Financial Services Inc. acquired a new position in SYSCO during the third quarter worth $268,000. Hedge funds and other institutional investors own 79.31% of the company’s stock.

Shares of NYSE SYY traded down $0.91 during mid-day trading on Wednesday, reaching $66.13. The company’s stock had a trading volume of 5,454,361 shares, compared to its average volume of 3,635,565. The stock has a market capitalization of $35.03 billion, a price-to-earnings ratio of 21.06, a price-to-earnings-growth ratio of 1.90 and a beta of 0.54. The company has a quick ratio of 0.80, a current ratio of 1.30 and a debt-to-equity ratio of 3.00. SYSCO Co. has a 1-year low of $56.01 and a 1-year high of $75.98.

SYSCO (NYSE:SYY) last issued its earnings results on Monday, November 5th. The company reported $0.91 EPS for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.01). The business had revenue of $15.22 billion during the quarter, compared to analyst estimates of $15.39 billion. SYSCO had a net margin of 2.52% and a return on equity of 68.81%. SYSCO’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company earned $0.74 earnings per share. As a group, equities research analysts expect that SYSCO Co. will post 3.4 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 25th. Stockholders of record on Friday, January 4th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.36%. This is a boost from SYSCO’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, January 3rd. SYSCO’s dividend payout ratio is 45.86%.

In related news, Director Richard G. Tilghman sold 5,000 shares of the company’s stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $66.17, for a total value of $330,850.00. Following the completion of the sale, the director now owns 7,055 shares of the company’s stock, valued at $466,829.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Trian Fund Management, L.P. sold 2,115,358 shares of the company’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $74.81, for a total transaction of $158,249,931.98. Following the completion of the sale, the director now directly owns 4,005 shares of the company’s stock, valued at approximately $299,614.05. The disclosure for this sale can be found here. Insiders sold 6,884,031 shares of company stock valued at $484,008,301 over the last quarter. Company insiders own 7.88% of the company’s stock.

A number of equities analysts have weighed in on the stock. ValuEngine upgraded shares of SYSCO from a “hold” rating to a “buy” rating in a research report on Monday, August 13th. Zacks Investment Research restated a “hold” rating on shares of SYSCO in a research report on Friday, November 16th. BMO Capital Markets upped their price objective on shares of SYSCO from $74.00 to $81.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 14th. Pivotal Research upped their price objective on shares of SYSCO from $58.00 to $62.00 and gave the stock a “sell” rating in a research report on Saturday, August 18th. Finally, Credit Suisse Group reduced their price objective on shares of SYSCO from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday, November 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. SYSCO currently has an average rating of “Hold” and a consensus price target of $73.54.

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SYSCO Profile

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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