Sigma Planning Corp Decreases Holdings in Sysco Co. (NYSE:SYY)

Sigma Planning Corp lowered its stake in shares of Sysco Co. (NYSE:SYY) by 1.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,093 shares of the company’s stock after selling 364 shares during the period. Sigma Planning Corp’s holdings in Sysco were worth $2,115,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Houlihan Financial Resource Group Ltd. purchased a new position in Sysco in the 3rd quarter valued at $342,000. Covestor Ltd raised its position in shares of Sysco by 26.7% in the third quarter. Covestor Ltd now owns 1,432 shares of the company’s stock valued at $112,000 after buying an additional 302 shares during the last quarter. Carr Financial Group Corp purchased a new position in shares of Sysco in the third quarter worth about $219,000. Kerusso Capital Management LLC boosted its position in Sysco by 6.5% during the third quarter. Kerusso Capital Management LLC now owns 18,199 shares of the company’s stock worth $1,421,000 after acquiring an additional 1,104 shares during the last quarter. Finally, 5th Street Advisors LLC purchased a new stake in Sysco during the 3rd quarter valued at about $319,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Activity at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the transaction, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

SYY has been the topic of several recent research reports. Jefferies Financial Group boosted their target price on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Barclays upped their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Bank of America reduced their price target on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Wells Fargo & Company dropped their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their target price 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. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $85.77.

Sysco Stock Performance

NYSE:SYY opened at $77.94 on Tuesday. Sysco Co. has a fifty-two week low of $66.87 and a fifty-two week high of $82.89. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The company has a 50 day moving average price of $76.14 and a 200 day moving average price of $74.72. The stock has a market capitalization of $38.29 billion, a P/E ratio of 20.04, a PEG ratio of 2.03 and a beta of 1.20.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.47 billion. During the same period in the previous year, the firm posted $1.07 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. Equities research analysts forecast that Sysco Co. will post 4.57 EPS for the current year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend was Friday, October 4th. Sysco’s payout ratio is 52.44%.

About Sysco

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.