Charles Schwab Investment Management Inc. Has $230.03 Million Stake in Sysco Co. (NYSE:SYY)

by · The Markets Daily

Charles Schwab Investment Management Inc. grew its position in Sysco Co. (NYSE:SYY – Free Report) by 0.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,946,826 shares of the company’s stock after acquiring an additional 6,305 shares during the period. Charles Schwab Investment Management Inc. owned about 0.60% of Sysco worth $230,029,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SYY. TruNorth Capital Management LLC bought a new position in Sysco during the second quarter worth about $25,000. Armstrong Advisory Group Inc. boosted its stake in shares of 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 acquiring an additional 310 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of Sysco during the 3rd quarter worth approximately $26,000. Valley Wealth Managers Inc. bought a new stake in Sysco in the 3rd quarter valued at $31,000. Finally, Focused Wealth Management Inc acquired a new stake in Sysco during the 3rd quarter valued at $37,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Performance

Shares of NYSE:SYY opened at $75.79 on Friday. The company’s 50 day simple moving average is $75.69 and its 200 day simple moving average is $74.74. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.89. The stock has a market capitalization of $37.23 billion, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 1.97 and a beta of 1.20.

Sysco (NYSE:SYY – Get Free Report) last announced its quarterly earnings data 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). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The business 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 earned $1.07 earnings per share. Sysco’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, research analysts predict that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Insider Buying and Selling

In other Sysco news, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Eve M. Mcfadden sold 4,036 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the sale, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,638,670.10. This trade represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SYY. Wells Fargo & Company cut their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. Jefferies Financial Group upped their price objective on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, Barclays lifted their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Two 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, Sysco currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.77.

Get Our Latest Stock Analysis on Sysco

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.

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