Kerusso Capital Management LLC Buys 1,104 Shares of Sysco Co. (NYSE:SYY)

Kerusso Capital Management LLC boosted its stake in Sysco Co. (NYSE:SYY) by 6.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,199 shares of the company’s stock after acquiring an additional 1,104 shares during the period. Kerusso Capital Management LLC’s holdings in Sysco were worth $1,421,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. TruNorth Capital Management LLC bought a new stake in Sysco in the second quarter worth about $25,000. Armstrong Advisory Group Inc. increased its stake in shares of Sysco by 1,240.0% in the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after purchasing an additional 310 shares in the last quarter. Focused Wealth Management Inc purchased a new position in shares of Sysco in the third quarter worth about $37,000. Fairscale Capital LLC purchased a new position in shares of Sysco in the second quarter worth about $38,000. Finally, Canoe Financial LP purchased a new position in shares of Sysco in the third quarter worth about $38,000. Institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SYY shares. Jefferies Financial Group lifted their target price on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Wells Fargo & Company reduced their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Bank of America reduced their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Morgan Stanley reduced their price objective 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. Finally, StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.77.

Sysco Price Performance

SYY stock opened at $77.39 on Friday. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. Sysco Co. has a one year low of $66.27 and a one year high of $82.89. The stock has a market cap of $38.02 billion, a PE ratio of 19.89, a P/E/G ratio of 2.02 and a beta of 1.20. The firm has a 50 day simple moving average of $76.14 and a two-hundred day simple moving average of $74.76.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The company had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.47 billion. During the same period in the prior year, the firm earned $1.07 EPS. Sysco’s quarterly revenue was up 4.4% on a year-over-year basis. On average, analysts predict that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were paid 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 dividend payout ratio is presently 52.44%.

Insider Transactions at Sysco

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the business’s stock in a transaction that occurred on 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 directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company 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.