Rhumbline Advisers Has $59.76 Million Position in SYSCO Co. (SYY)

Rhumbline Advisers increased its holdings in SYSCO Co. (NYSE:SYY) by 0.7% during the second quarter, HoldingsChannel.com reports. The firm owned 875,111 shares of the company’s stock after acquiring an additional 5,919 shares during the quarter. Rhumbline Advisers’ holdings in SYSCO were worth $59,761,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Blue Chip Partners Inc. purchased a new position in SYSCO in the 2nd quarter worth $104,000. Private Capital Group LLC raised its position in SYSCO by 970.2% in the 1st quarter. Private Capital Group LLC now owns 2,044 shares of the company’s stock worth $123,000 after purchasing an additional 1,853 shares during the period. Centaurus Financial Inc. purchased a new position in SYSCO in the 1st quarter worth $129,000. Bedel Financial Consulting Inc. purchased a new position in SYSCO in the 1st quarter worth $145,000. Finally, Centerpoint Advisors LLC purchased a new position in SYSCO in the 1st quarter worth $149,000. Institutional investors own 79.90% of the company’s stock.

In related news, insider Paul T. Moskowitz sold 15,333 shares of the business’s stock in a transaction dated Friday, May 25th. The shares were sold at an average price of $65.00, for a total transaction of $996,645.00. Following the transaction, the insider now owns 58,328 shares in the company, valued at $3,791,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Trian Fund Management, L.P. sold 2,278,939 shares of the business’s stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $66.14, for a total transaction of $150,729,025.46. Following the transaction, the director now owns 4,657 shares in the company, valued at approximately $308,013.98. The disclosure for this sale can be found here. Insiders sold 3,124,634 shares of company stock worth $206,697,455 in the last 90 days. Corporate insiders own 9.60% of the company’s stock.

SYSCO opened at $68.48 on Friday, MarketBeat.com reports. SYSCO Co. has a 12-month low of $50.05 and a 12-month high of $71.97. The stock has a market capitalization of $36.48 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 1.94 and a beta of 0.56. The company has a debt-to-equity ratio of 3.76, a quick ratio of 0.90 and a current ratio of 1.44.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 26th. Shareholders of record on Friday, October 5th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Thursday, October 4th. SYSCO’s payout ratio is 58.06%.

A number of brokerages recently commented on SYY. ValuEngine cut shares of SYSCO from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Zacks Investment Research upgraded shares of SYSCO from a “sell” rating to a “hold” rating in a research report on Wednesday. Pivotal Research set a $58.00 price objective on shares of SYSCO and gave the company a “hold” rating in a research report on Tuesday, May 8th. Citigroup boosted their price objective on shares of SYSCO from $67.00 to $69.00 and gave the company a “neutral” rating in a research report on Tuesday, June 19th. Finally, Morgan Stanley restated a “hold” rating and issued a $61.00 price objective (down previously from $64.00) on shares of SYSCO in a research report on Tuesday, May 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. SYSCO currently has a consensus rating of “Hold” and an average price target of $68.82.

About SYSCO

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 in the United States, Canada, Bahamas, Mexico, Costa Rica, Panama, the United Kingdom, France, Sweden, Ireland, Belgium, Spain, and Luxembourg.

Further Reading: What is the Book Value of a Share?

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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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