Hartford Investment Management Co. Sells 1,020 Shares of Sysco Co. (NYSE:SYY)

Hartford Investment Management Co. decreased its stake in shares of Sysco Co. (NYSE:SYY) by 3.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 30,832 shares of the company’s stock after selling 1,020 shares during the period. Hartford Investment Management Co.’s holdings in Sysco were worth $2,407,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in SYY. TruNorth Capital Management LLC purchased a new stake in shares of Sysco in the second quarter worth about $25,000. Armstrong Advisory Group Inc. increased its holdings in 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. Fairscale Capital LLC purchased a new stake in Sysco in the 2nd quarter worth approximately $38,000. LRI Investments LLC bought a new position in Sysco in the 1st quarter valued at $45,000. Finally, Livelsberger Financial Advisory purchased a new position in shares of Sysco during the 3rd quarter valued at $47,000. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

Sysco stock opened at $74.37 on Friday. The firm has a fifty day simple moving average of $76.51 and a two-hundred day simple moving average of $74.82. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. Sysco Co. has a twelve month low of $64.28 and a twelve month high of $82.89. The company has a market capitalization of $36.53 billion, a PE ratio of 19.12, a P/E/G ratio of 1.95 and a beta of 1.20.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The company had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.51 billion. During the same quarter in the previous year, the company posted $1.34 EPS. Sysco’s revenue for the quarter was up 4.2% on a year-over-year basis. Research analysts expect that Sysco Co. will post 4.6 EPS for the current year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Friday, October 4th. Sysco’s dividend payout ratio is 52.44%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SYY shares. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday. Barclays boosted their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Bank of America lowered their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. JPMorgan Chase & Co. boosted their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, Morgan Stanley lowered their price objective on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $86.08.

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.