Mainstream Capital Management LLC Takes $516,000 Position in Sysco Co. (NYSE:SYY)

Mainstream Capital Management LLC bought a new position in shares of Sysco Co. (NYSE:SYY - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,604 shares of the company's stock, valued at approximately $516,000.

Several other institutional investors have also recently made changes to their positions in SYY. Plimoth Trust Co. LLC grew its position in Sysco by 0.6% in the second quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company's stock worth $1,610,000 after acquiring an additional 139 shares in the last quarter. Meeder Advisory Services Inc. grew its position in Sysco by 1.7% in the first quarter. Meeder Advisory Services Inc. now owns 8,362 shares of the company's stock worth $679,000 after acquiring an additional 141 shares in the last quarter. Koshinski Asset Management Inc. grew its position in Sysco by 3.1% in the third quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company's stock worth $383,000 after acquiring an additional 146 shares in the last quarter. NorthRock Partners LLC grew its position in Sysco by 3.7% in the first quarter. NorthRock Partners LLC now owns 4,121 shares of the company's stock worth $335,000 after acquiring an additional 147 shares in the last quarter. Finally, Powers Advisory Group LLC grew its position in Sysco by 1.6% in the second quarter. Powers Advisory Group LLC now owns 9,555 shares of the company's stock worth $682,000 after acquiring an additional 149 shares in the last quarter. Institutional investors own 83.41% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SYY. Jefferies Financial Group boosted their target price on Sysco from $91.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, September 25th. Bank of America dropped their target price on Sysco from $91.00 to $87.00 and set a "buy" rating for the company in a research report on Thursday, July 18th. JPMorgan Chase & Co. lifted their price target on shares of Sysco from $85.00 to $88.00 and gave the company an "overweight" rating in a research note on Monday, September 16th. StockNews.com downgraded shares of Sysco from a "strong-buy" rating to a "buy" rating in a research note on Monday, October 21st. Finally, Morgan Stanley decreased their price target on shares of Sysco from $82.00 to $81.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $85.77.

Sysco Stock Performance

Shares of SYY traded up $0.54 during trading hours on Friday, reaching $77.41. 2,237,101 shares of the company traded hands, compared to its average volume of 3,171,791. Sysco Co. has a 12-month low of $66.27 and a 12-month high of $82.89. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The stock has a market capitalization of $38.03 billion, a P/E ratio of 19.90, a P/E/G ratio of 2.02 and a beta of 1.20. The business has a fifty day moving average price of $76.14 and a 200-day moving average price of $74.76.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The business had revenue of $20.48 billion during the quarter, compared to analysts' expectations of $20.47 billion. During the same period in the previous year, the company posted $1.07 earnings per share. Sysco's revenue for the quarter was up 4.4% compared to the same quarter last year. Equities analysts anticipate that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were issued a $0.51 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.64%. Sysco's payout ratio is 52.44%.

Insider Buying and Selling at Sysco

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