Carrera Capital Advisors Takes Position in Sysco Co. (NYSE:SYY)

Carrera Capital Advisors bought a new position in Sysco Co. (NYSE:SYY - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 16,165 shares of the company's stock, valued at approximately $1,262,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. TruNorth Capital Management LLC bought a new position in shares of Sysco in the 2nd quarter valued at about $25,000. Armstrong Advisory Group Inc. lifted its position in shares of Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company's stock worth $26,000 after purchasing an additional 310 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Sysco during the third quarter valued at $26,000. Focused Wealth Management Inc bought a new position in shares of Sysco in the third quarter worth about $37,000. Finally, Fairscale Capital LLC purchased a new position in Sysco in the 2nd quarter worth about $38,000. 83.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on SYY. Barclays 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 Wednesday, July 31st. JPMorgan Chase & Co. raised their price objective on Sysco from $85.00 to $88.00 and gave the stock an "overweight" rating in a report on Monday, September 16th. Morgan Stanley lowered their target price on Sysco from $82.00 to $81.00 and set an "equal weight" rating for the company in a report on Tuesday, July 16th. StockNews.com lowered Sysco from a "strong-buy" rating to a "buy" rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company lowered their price objective on shares of Sysco from $87.00 to $82.00 and set an "overweight" rating for the company in a research note on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $85.77.

Insider Activity at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the sale, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.54% of the stock is owned by insiders.

Sysco Stock Up 0.3 %

SYY stock traded up $0.25 on Tuesday, hitting $78.19. 484,286 shares of the company's stock were exchanged, compared to its average volume of 3,154,967. 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 cap of $38.41 billion, a P/E ratio of 20.04, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20. The firm has a 50 day moving average price of $76.14 and a two-hundred day moving average price of $74.73. Sysco Co. has a 12-month low of $66.87 and a 12-month high of $82.89.

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

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date was Friday, October 4th. Sysco's dividend payout ratio (DPR) is 52.44%.

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.

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