Sysco Co. (NYSE:SYY) Shares Sold by Linscomb Wealth Inc.

Linscomb Wealth Inc. decreased its position in Sysco Co. (NYSE:SYY) by 8.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,490 shares of the company’s stock after selling 333 shares during the quarter. Linscomb Wealth Inc.’s holdings in Sysco were worth $272,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TruNorth Capital Management LLC acquired a new stake in Sysco during the second quarter worth approximately $25,000. Armstrong Advisory Group Inc. lifted its stake in shares of Sysco by 1,240.0% during 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. Ashton Thomas Securities LLC acquired a new stake in shares of Sysco during the third quarter worth $26,000. Valley Wealth Managers Inc. purchased a new stake in shares of Sysco in the third quarter valued at $31,000. Finally, Focused Wealth Management Inc acquired a new position in Sysco in the third quarter valued at $37,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Stock Performance

Shares of NYSE:SYY opened at $74.95 on Friday. The company has a market cap of $36.82 billion, a P/E ratio of 19.27, a PEG ratio of 2.01 and a beta of 1.20. Sysco Co. has a one year low of $69.03 and a one year high of $82.89. The business’s 50-day simple moving average is $75.93 and its 200 day simple moving average is $74.73. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26.

Sysco (NYSE:SYY) last announced 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 firm had revenue of $20.48 billion during 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%. Sysco’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.07 earnings per share. On average, sell-side analysts forecast that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on SYY shares. Wells Fargo & Company decreased their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Jefferies Financial Group increased their price target 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. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Finally, Barclays upped their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $85.77.

Insider Buying and Selling at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the company’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 value of $303,103.60. Following 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.54% of the stock is currently owned by corporate insiders.

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.