Sysco Co. (NYSE:SYY) Shares Sold by Appleton Partners Inc. MA

Appleton Partners Inc. MA lessened its position in shares of Sysco Co. (NYSE:SYY) by 4.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,661 shares of the company’s stock after selling 1,127 shares during the quarter. Appleton Partners Inc. MA’s holdings in Sysco were worth $1,925,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SYY. ORG Partners LLC grew its position in shares of Sysco by 3,159.0% during the 2nd 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 period. Bridgefront Capital LLC acquired a new stake in Sysco in the fourth quarter valued at approximately $841,000. Nebula Research & Development LLC purchased a new stake in shares of Sysco in the fourth quarter valued at approximately $916,000. Mizuho Markets Americas LLC raised its stake in shares of Sysco by 102.1% during the 1st quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock worth $11,355,000 after buying an additional 70,660 shares during the period. Finally, Wedge Capital Management L L P NC lifted 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 valued at $12,577,000 after buying an additional 18,296 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Down 0.5 %

Shares of NYSE:SYY opened at $77.38 on Thursday. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89. The company has a market capitalization of $38.03 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 2.02 and a beta of 1.20. The business has a 50-day moving average price of $76.52 and a 200 day moving average price of $75.39. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19.

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 analysts’ consensus estimates of $1.38 by $0.01. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The firm had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $20.51 billion. During the same quarter last year, the company posted $1.34 EPS. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. Sell-side analysts expect that Sysco Co. will post 4.6 EPS for the current year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.64%. Sysco’s dividend payout ratio is presently 49.76%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SYY. Barclays boosted their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Bank of America decreased their target price on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Morgan Stanley dropped their price target on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Finally, 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 report on Monday, September 16th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $86.08.

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.