Trueblood Wealth Management LLC Has $209,000 Stock Position in Sysco Co. (NYSE:SYY)

Trueblood Wealth Management LLC lessened its stake in Sysco Co. (NYSE:SYY) by 5.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,680 shares of the company’s stock after selling 152 shares during the quarter. Trueblood Wealth Management LLC’s holdings in Sysco were worth $209,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SYY. Capital World Investors lifted its stake in Sysco by 17.5% during the first quarter. Capital World Investors now owns 10,984,950 shares of the company’s stock worth $891,758,000 after purchasing an additional 1,637,232 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Sysco by 26.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock worth $615,076,000 after buying an additional 1,782,180 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Sysco by 112.8% during the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock worth $536,770,000 after buying an additional 3,504,740 shares during the last quarter. Diamond Hill Capital Management Inc. grew its position in Sysco by 49.8% in the second quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock valued at $429,240,000 after acquiring an additional 1,997,895 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in Sysco by 103.0% during the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock worth $338,830,000 after acquiring an additional 2,408,226 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on SYY. Bank of America reduced their price target 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. Morgan Stanley decreased their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. JPMorgan Chase & Co. upped their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Barclays raised their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $86.08.

Sysco Price Performance

Sysco stock opened at $73.92 on Friday. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. Sysco Co. has a one year low of $64.28 and a one year high of $82.89. The stock’s 50 day moving average is $76.42 and its 200 day moving average is $74.78. The firm has a market cap of $36.31 billion, a P/E ratio of 19.00, a P/E/G ratio of 1.95 and a beta of 1.20.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.01. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $20.51 billion. During the same period in the prior year, the company posted $1.34 earnings per share. Sysco’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, research analysts expect that Sysco Co. will post 4.6 EPS for the current year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were given a dividend of $0.51 per share. The ex-dividend date was Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.76%. Sysco’s payout ratio is 52.44%.

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.