Sysco Co. (NYSE:SYY) Shares Sold by Yacktman Asset Management LP

Yacktman Asset Management LP cut its holdings in Sysco Co. (NYSE:SYY - Free Report) by 6.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,371,896 shares of the company's stock after selling 99,260 shares during the quarter. Yacktman Asset Management LP owned approximately 0.28% of Sysco worth $107,090,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Plimoth Trust Co. LLC increased its holdings in shares of 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 stake in shares of 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 during the period. Koshinski Asset Management Inc. raised its holdings in shares of Sysco by 3.1% during the third 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 during the last quarter. NorthRock Partners LLC boosted its holdings 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 purchasing an additional 147 shares during the last quarter. Finally, Powers Advisory Group LLC grew its position in Sysco by 1.6% in the 2nd quarter. Powers Advisory Group LLC now owns 9,555 shares of the company's stock worth $682,000 after purchasing an additional 149 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group raised their price target on Sysco from $91.00 to $92.00 and gave the stock a "buy" rating in a research note on Wednesday, September 25th. Barclays increased 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. StockNews.com lowered shares of Sysco from a "strong-buy" rating to a "buy" rating in a research report on Monday, October 21st. JPMorgan Chase & Co. lifted their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an "overweight" rating in a research note on Monday, September 16th. Finally, Morgan Stanley reduced their price objective on 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 investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Sysco presently has an average rating of "Moderate Buy" and an average target price of $85.77.

Sysco Price Performance

SYY stock traded up $0.98 during midday trading on Tuesday, hitting $76.35. The company's stock had a trading volume of 2,016,065 shares, compared to its average volume of 3,165,390. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. Sysco Co. has a 12 month low of $66.27 and a 12 month high of $82.89. The company has a 50 day moving average of $76.16 and a two-hundred day moving average of $74.73. The firm has a market capitalization of $37.51 billion, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 1.97 and a beta of 1.20.

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

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date was Friday, October 4th. Sysco's payout ratio is presently 52.44%.

Insiders Place Their Bets

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

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.