Goelzer Investment Management Inc. Sells 619 Shares of Sysco Co. (NYSE:SYY)

Goelzer Investment Management Inc. trimmed its position in shares of Sysco Co. (NYSE:SYY) by 0.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 85,118 shares of the company’s stock after selling 619 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Sysco were worth $6,644,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SYY. TruNorth Capital Management LLC acquired a new position in Sysco in the second quarter worth $25,000. OFI Invest Asset Management acquired a new position in Sysco during the 1st quarter worth about $31,000. Fairscale Capital LLC bought a new stake in Sysco during the 2nd quarter worth about $38,000. Fairman Group LLC acquired a new stake in Sysco in the 4th quarter valued at about $39,000. Finally, Livelsberger Financial Advisory bought a new position in shares of Sysco in the fourth quarter worth about $44,000. 83.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SYY shares. Bank of America lowered their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Morgan Stanley cut 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 report on Tuesday, July 16th. Finally, Barclays upped 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. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $86.08.

Sysco Trading Down 0.3 %

NYSE:SYY traded down $0.22 on Friday, reaching $75.41. The company’s stock had a trading volume of 2,792,314 shares, compared to its average volume of 4,208,693. Sysco Co. has a 1-year low of $62.24 and a 1-year high of $82.89. The business’s 50-day moving average price is $76.65 and its two-hundred day moving average price is $75.35. The firm has a market cap of $37.07 billion, a PE ratio of 18.39, a PEG ratio of 2.02 and a beta of 1.20. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping 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 business 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 business earned $1.34 EPS. Sysco’s revenue for the quarter was up 4.2% compared to the same quarter last year. Equities research analysts anticipate that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 annualized dividend and a yield of 2.71%. Sysco’s dividend payout ratio is currently 49.76%.

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.