Koshinski Asset Management Inc. Raises Position in Sysco Co. (NYSE:SYY)

Koshinski Asset Management Inc. increased its stake in shares of Sysco Co. (NYSE:SYY) by 7.0% in the 4th quarter, Holdings Channel reports. The firm owned 5,259 shares of the company’s stock after buying an additional 346 shares during the period. Koshinski Asset Management Inc.’s holdings in Sysco were worth $402,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in SYY. State Street Corp raised its holdings in shares of Sysco by 11.1% during the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after purchasing an additional 2,721,449 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of 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 purchasing an additional 1,782,180 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Sysco during the third quarter valued at approximately $137,900,000. Nordea Investment Management AB raised its holdings in shares of Sysco by 52.3% during the fourth quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock valued at $208,666,000 after purchasing an additional 933,327 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. raised its holdings in shares of Sysco by 11.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after purchasing an additional 672,940 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. Morgan Stanley reduced their target price on shares of Sysco from $82.00 to $79.00 and set an “equal weight” rating for the company in a report on Tuesday. Wells Fargo & Company reduced their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Monday, January 13th. Melius Research raised shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. Finally, Jefferies Financial Group upped their target price on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $85.79.

Sysco Price Performance

Shares of NYSE:SYY opened at $73.41 on Thursday. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The firm has a fifty day moving average price of $76.54 and a 200 day moving average price of $75.90. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.89. The firm has a market cap of $36.06 billion, a price-to-earnings ratio of 18.87, a P/E/G ratio of 2.03 and a beta of 1.18.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share 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 company had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. During the same quarter in the prior year, the company posted $1.07 EPS. Sysco’s revenue was up 4.4% compared to the same quarter last year. As a group, sell-side analysts expect that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.78%. Sysco’s dividend payout ratio is 52.44%.

Insider Buying and Selling

In related news, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the sale, the director now owns 12,955 shares of the company’s stock, valued at $966,831.65. This represents a 18.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the sale, the executive vice president now directly owns 56,304 shares in the company, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 83,306 shares of company stock worth $6,485,050. 0.54% of the stock is owned by insiders.

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.