Los Angeles Capital Management LLC Reduces Stock Position in Sysco Co. (NYSE:SYY)

Los Angeles Capital Management LLC trimmed its holdings in Sysco Co. (NYSE:SYY - Free Report) by 36.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,103 shares of the company's stock after selling 66,632 shares during the period. Los Angeles Capital Management LLC's holdings in Sysco were worth $8,907,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Plimoth Trust Co. LLC grew its position in Sysco by 0.6% in the 2nd quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company's stock worth $1,610,000 after purchasing an additional 139 shares in the last quarter. Meeder Advisory Services Inc. grew its holdings in Sysco by 1.7% in the 1st quarter. Meeder Advisory Services Inc. now owns 8,362 shares of the company's stock worth $679,000 after acquiring an additional 141 shares during the last quarter. Koshinski Asset Management Inc. boosted its stake in shares of Sysco by 3.1% during the 3rd quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company's stock valued at $383,000 after purchasing an additional 146 shares in the last quarter. NorthRock Partners LLC lifted its position in Sysco by 3.7% during the 1st quarter. NorthRock Partners LLC now owns 4,121 shares of the company's stock valued at $335,000 after acquiring an additional 147 shares during the period. Finally, Powers Advisory Group LLC raised its holdings in shares of Sysco by 1.6% during the second quarter. Powers Advisory Group LLC now owns 9,555 shares of the company's stock valued at $682,000 after purchasing an additional 149 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SYY shares. Wells Fargo & Company lowered their target price on shares of Sysco from $87.00 to $82.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. Barclays raised 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 Wednesday, July 31st. StockNews.com lowered shares of Sysco from a "strong-buy" rating to a "buy" rating in a report on Monday, October 21st. Bank of America dropped their target price 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. Finally, JPMorgan Chase & Co. upped their target price on shares of Sysco from $85.00 to $88.00 and gave the company an "overweight" rating in a research report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $85.77.

Sysco Stock Performance

Shares of NYSE SYY traded down $0.13 during midday trading on Tuesday, reaching $77.81. The company's stock had a trading volume of 1,130,792 shares, compared to its average volume of 3,157,519. Sysco Co. has a 12-month low of $66.87 and a 12-month high of $82.89. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The firm has a 50 day moving average price of $76.14 and a 200-day moving average price of $74.73. The stock has a market capitalization of $38.22 billion, a P/E ratio of 20.04, a PEG ratio of 2.03 and a beta of 1.20.

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). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. During the same period in the prior year, the company earned $1.07 EPS. The firm's revenue was up 4.4% compared to the same quarter last year. As a group, equities analysts predict that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were issued a dividend of $0.51 per share. The ex-dividend date was Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.62%. Sysco's dividend payout ratio is currently 52.44%.

Insider Buying and Selling

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the firm's 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 transaction, the senior vice president now owns 48,451 shares of the company's stock, valued at approximately $3,638,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.54% of the stock is owned by insiders.

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.