Sysco Co. (NYSE:SYY) Shares Sold by Simplicity Wealth LLC

Simplicity Wealth LLC cut its stake in shares of Sysco Co. (NYSE:SYY) by 75.7% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 18,751 shares of the company’s stock after selling 58,446 shares during the period. Simplicity Wealth LLC’s holdings in Sysco were worth $1,464,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SYY. TruNorth Capital Management LLC purchased a new stake in Sysco during the 2nd quarter worth $25,000. OFI Invest Asset Management purchased a new stake in shares of Sysco during the first quarter worth about $31,000. Fairscale Capital LLC acquired a new position in shares of Sysco in the second quarter worth about $38,000. Fairman Group LLC purchased a new position in Sysco in the fourth quarter valued at about $39,000. Finally, Livelsberger Financial Advisory acquired a new stake in Sysco during the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Trading Up 0.8 %

NYSE:SYY opened at $74.42 on Friday. The firm has a market capitalization of $36.56 billion, a P/E ratio of 19.13, a P/E/G ratio of 1.92 and a beta of 1.20. The business has a 50 day simple moving average of $76.53 and a 200 day simple moving average of $75.08. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. Sysco Co. has a 12-month low of $62.45 and a 12-month high of $82.89.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.01. The company had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.34 earnings per share. Equities research analysts predict that Sysco Co. will post 4.6 EPS for the current year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio (DPR) is 52.44%.

Wall Street Analyst Weigh In

SYY has been the topic of a number of recent analyst reports. Jefferies Financial Group upped 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. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. 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 research report on Thursday, July 18th. Morgan Stanley reduced their price target 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. 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, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Sysco has a consensus rating of “Moderate Buy” and a consensus price target of $86.08.

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.