LS Investment Advisors LLC Decreases Stock Position in Sysco Co. (NYSE:SYY)

LS Investment Advisors LLC reduced its holdings in Sysco Co. (NYSE:SYY - Free Report) by 86.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,717 shares of the company's stock after selling 29,463 shares during the period. LS Investment Advisors LLC's holdings in Sysco were worth $368,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. TruNorth Capital Management LLC bought a new stake in Sysco during the second quarter worth approximately $25,000. Armstrong Advisory Group Inc. boosted its holdings in shares of Sysco by 1,240.0% in the 3rd 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 period. Focused Wealth Management Inc bought a new position in shares of Sysco during the 3rd quarter valued at approximately $37,000. Fairscale Capital LLC purchased a new stake in Sysco during the 2nd quarter valued at $38,000. Finally, Canoe Financial LP bought a new stake in Sysco in the third quarter worth $38,000. 83.41% of the stock is currently owned by institutional investors.

Sysco Stock Up 0.7 %

Shares of Sysco stock traded up $0.54 during trading on Friday, hitting $77.41. 2,237,101 shares of the stock traded hands, compared to its average volume of 3,171,791. Sysco Co. has a 52-week low of $66.27 and a 52-week high of $82.89. The stock's fifty day simple moving average is $76.14 and its 200 day simple moving average is $74.76. The firm has a market cap of $38.03 billion, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 2.02 and a beta of 1.20. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38.

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 the consensus estimate of $20.47 billion. During the same quarter in the prior year, the firm posted $1.07 EPS. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities analysts predict that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.04 annualized dividend and a yield of 2.64%. Sysco's dividend payout ratio (DPR) is presently 52.44%.

Insider Activity

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was 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 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 available through this link. Company insiders own 0.54% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on SYY. 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 research note on Wednesday, October 30th. Morgan Stanley reduced their price objective on shares of Sysco from $82.00 to $81.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 16th. StockNews.com lowered Sysco from a "strong-buy" rating to a "buy" rating in a research report on Monday, October 21st. Jefferies Financial Group increased their price target on Sysco from $91.00 to $92.00 and gave the stock a "buy" rating in a report on Wednesday, September 25th. Finally, Barclays boosted their price objective on Sysco from $85.00 to $88.00 and gave the company an "overweight" rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Sysco currently has a consensus rating of "Moderate Buy" and a consensus target price of $85.77.

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.