Belpointe Asset Management LLC acquired a new position in Sysco Corporation (NYSE:SYY) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,037 shares of the company’s stock, valued at approximately $434,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SYY. Capital Investment Advisors LLC increased its holdings in shares of Sysco by 7.8% during the second quarter. Capital Investment Advisors LLC now owns 74,931 shares of the company’s stock valued at $3,771,000 after acquiring an additional 5,395 shares in the last quarter. New England Research & Management Inc. increased its holdings in shares of Sysco by 66.0% during the second quarter. New England Research & Management Inc. now owns 15,390 shares of the company’s stock valued at $775,000 after acquiring an additional 6,120 shares in the last quarter. First Financial Bank Trust Division increased its holdings in shares of Sysco by 2.5% during the second quarter. First Financial Bank Trust Division now owns 9,027 shares of the company’s stock valued at $454,000 after acquiring an additional 218 shares in the last quarter. Acropolis Investment Management LLC increased its holdings in shares of Sysco by 18.4% during the second quarter. Acropolis Investment Management LLC now owns 13,119 shares of the company’s stock valued at $660,000 after acquiring an additional 2,035 shares in the last quarter. Finally, NEXT Financial Group Inc increased its holdings in shares of Sysco by 5.9% during the second quarter. NEXT Financial Group Inc now owns 5,512 shares of the company’s stock valued at $277,000 after acquiring an additional 306 shares in the last quarter. Institutional investors and hedge funds own 80.22% of the company’s stock.

SYY has been the subject of several analyst reports. BMO Capital Markets restated an “outperform” rating on shares of Sysco in a report on Tuesday, September 12th. Zacks Investment Research upgraded Sysco from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Tuesday, October 10th. Pivotal Research restated a “hold” rating and set a $53.00 price target on shares of Sysco in a report on Sunday, November 5th. Finally, Loop Capital raised their price target on Sysco to $68.00 and gave the company a “buy” rating in a report on Monday, December 11th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $58.55.

Sysco Corporation (SYY) traded up $0.05 during midday trading on Friday, reaching $60.95. The company had a trading volume of 5,965,626 shares, compared to its average volume of 2,575,291. Sysco Corporation has a 52 week low of $48.85 and a 52 week high of $62.79. The company has a market cap of $31,732.33, a P/E ratio of 23.88, a price-to-earnings-growth ratio of 2.61 and a beta of 0.54. The company has a debt-to-equity ratio of 3.77, a current ratio of 1.40 and a quick ratio of 0.88.

Sysco (NYSE:SYY) last released its quarterly earnings data on Monday, November 6th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.72 by $0.02. Sysco had a return on equity of 58.47% and a net margin of 2.12%. The company had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $14.43 billion. During the same period last year, the company earned $0.67 EPS. Sysco’s revenue for the quarter was up 4.9% on a year-over-year basis. equities research analysts anticipate that Sysco Corporation will post 2.78 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 5th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.36%. This is an increase from Sysco’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, January 4th. Sysco’s dividend payout ratio (DPR) is presently 60.00%.

In other news, Director Trian Fund Management, L.P. bought 889,561 shares of the company’s stock in a transaction on Tuesday, September 19th. The shares were acquired at an average cost of $53.68 per share, with a total value of $47,751,634.48. Following the completion of the transaction, the director now owns 5,529 shares of the company’s stock, valued at approximately $296,796.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William J. Delaney III sold 281,800 shares of the firm’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $53.52, for a total value of $15,081,936.00. Following the completion of the transaction, the chief executive officer now directly owns 458,525 shares in the company, valued at $24,540,258. The disclosure for this sale can be found here. Insiders sold a total of 1,827,867 shares of company stock valued at $98,744,178 over the last quarter. 9.60% of the stock is owned by corporate insiders.

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About Sysco

Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.

Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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