Sysco Co. (NYSE:SYY) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its position in Sysco Co. (NYSE:SYY) by 3.6% during the third quarter, Holdings Channel reports. The firm owned 60,615 shares of the company’s stock after selling 2,245 shares during the period. Mutual of America Capital Management LLC’s holdings in Sysco were worth $4,732,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of SYY. Capital World Investors raised its holdings in shares of 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 holdings in shares of Sysco by 26.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock valued at $615,076,000 after buying an additional 1,782,180 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in shares of Sysco by 11.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after buying an additional 672,940 shares during the last quarter. Capital Research Global Investors grew its holdings in Sysco by 112.8% during the first quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock worth $536,770,000 after acquiring an additional 3,504,740 shares during the period. Finally, ProShare Advisors LLC raised its position in Sysco by 103.0% during the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock valued at $338,830,000 after acquiring an additional 2,408,226 shares in the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Sysco

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the sale, the senior vice president now 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 the SEC website. Also, Director Sheila Talton sold 2,900 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the transaction, the director now directly owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. This represents 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 owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SYY shares. Barclays raised their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Jefferies Financial Group lifted their price target on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. raised their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Wells Fargo & Company reduced their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Finally, StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.77.

Sysco Trading Down 1.0 %

SYY opened at $73.63 on Thursday. Sysco Co. has a one year low of $69.03 and a one year 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 stock has a market capitalization of $36.17 billion, a PE ratio of 18.93, a P/E/G ratio of 1.97 and a beta of 1.20. The business’s 50 day moving average price is $75.74 and its 200 day moving average price is $74.74.

Sysco (NYSE:SYY) last issued its quarterly earnings data 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). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The business had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.47 billion. During the same period in the previous year, the business posted $1.07 earnings per share. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, equities research analysts expect that Sysco Co. will post 4.57 EPS for the current year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.77%. Sysco’s payout ratio is currently 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.