Sysco Co. (NYSE:SYY) Holdings Cut by Strategy Asset Managers LLC

Strategy Asset Managers LLC lessened its holdings in Sysco Co. (NYSE:SYY - Free Report) by 32.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,492 shares of the company's stock after selling 19,127 shares during the quarter. Strategy Asset Managers LLC's holdings in Sysco were worth $3,083,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Armstrong Advisory Group Inc. increased its position in 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 buying an additional 310 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of Sysco in the 3rd quarter worth $26,000. TruNorth Capital Management LLC purchased a new stake in shares of Sysco in the second quarter valued at about $25,000. Valley Wealth Managers Inc. purchased a new position in Sysco during the third quarter worth about $31,000. Finally, Focused Wealth Management Inc acquired a new stake in Sysco in the third quarter valued at about $37,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Analysts Set New Price Targets

SYY has been the subject of a number of recent analyst reports. Jefferies Financial Group raised their target price on Sysco from $91.00 to $92.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. Barclays upped their price objective on Sysco from $85.00 to $88.00 and gave the company an "overweight" rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price objective on Sysco from $85.00 to $88.00 and gave the stock an "overweight" rating in a research report on Monday, September 16th. Wells Fargo & Company reduced 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. Finally, StockNews.com downgraded 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 company. According to MarketBeat.com, Sysco presently has a consensus rating of "Moderate Buy" and an average price target of $85.77.

Sysco Stock Down 0.9 %

Shares of Sysco stock traded down $0.68 during trading on Wednesday, reaching $73.72. The company had a trading volume of 991,634 shares, compared to its average volume of 3,144,164. 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 firm's fifty day moving average is $75.79 and its 200-day moving average is $74.75. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.89. The company has a market cap of $36.21 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 1.97 and a beta of 1.20.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.04). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The firm had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. During the same quarter last year, the business earned $1.07 earnings per share. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. On average, analysts anticipate 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. Stockholders of record on Friday, January 3rd will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Friday, January 3rd. Sysco's dividend payout ratio (DPR) is presently 52.44%.

Insider Activity at Sysco

In other news, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction that occurred on Tuesday, November 19th. The shares were 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 $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Eve M. Mcfadden sold 4,036 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 48,451 shares of the company's stock, valued at $3,638,670.10. This represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.

Sysco Company 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.