Sysco Co. (NYSE:SYY) Shares Sold by MAI Capital Management

MAI Capital Management trimmed its holdings in Sysco Co. (NYSE:SYY) by 31.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 6,479 shares of the company’s stock after selling 2,946 shares during the period. MAI Capital Management’s holdings in Sysco were worth $506,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. National Pension Service grew its holdings in shares of Sysco by 15.6% during the 3rd quarter. National Pension Service now owns 1,237,017 shares of the company’s stock worth $96,562,000 after purchasing an additional 166,798 shares during the period. ORG Partners LLC increased its position in shares of Sysco by 3,159.0% during the second quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock valued at $495,000 after acquiring an additional 6,855 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Sysco by 29.0% in the 3rd quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock valued at $6,115,000 after acquiring an additional 17,587 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in shares of Sysco by 11.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after acquiring an additional 672,940 shares during the last quarter. Finally, Wedge Capital Management L L P NC boosted its position in shares of Sysco by 11.6% during the 2nd quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock worth $12,577,000 after purchasing an additional 18,296 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Trading Up 0.9 %

NYSE:SYY opened at $75.79 on Friday. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.89. The stock has a market cap of $37.23 billion, a P/E ratio of 19.48, a P/E/G ratio of 1.95 and a beta of 1.20. 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 stock has a 50-day simple moving average of $75.69 and a 200-day simple moving average of $74.74.

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

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a yield of 2.69%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Insider Buying and Selling at Sysco

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at approximately $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the transaction, the director now directly owns 12,955 shares in the company, valued at $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on SYY shares. Barclays upped their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Wells Fargo & Company decreased their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. Jefferies Financial Group raised their price objective on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, JPMorgan Chase & Co. upped 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 given a buy rating to the stock. According to MarketBeat.com, Sysco has an average rating of “Moderate Buy” and an average price target of $85.77.

Sysco 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.