Stevens Capital Management LP Lowers Stock Position in Sysco Co. (NYSE:SYY)

Stevens Capital Management LP lessened its stake in shares of Sysco Co. (NYSE:SYY) by 15.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,200 shares of the company’s stock after selling 1,818 shares during the period. Stevens Capital Management LP’s holdings in Sysco were worth $796,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Plimoth Trust Co. LLC increased its holdings in Sysco by 0.6% in the 2nd quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock worth $1,610,000 after acquiring an additional 139 shares in the last quarter. Koshinski Asset Management Inc. boosted its stake in Sysco by 3.1% in the 3rd quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock worth $383,000 after purchasing an additional 146 shares during the period. Powers Advisory Group LLC boosted its stake in Sysco by 1.6% in the 2nd quarter. Powers Advisory Group LLC now owns 9,555 shares of the company’s stock worth $682,000 after purchasing an additional 149 shares during the period. Cable Hill Partners LLC boosted its stake in Sysco by 3.9% in the 3rd quarter. Cable Hill Partners LLC now owns 4,049 shares of the company’s stock worth $316,000 after purchasing an additional 152 shares during the period. Finally, Arrow Financial Corp boosted its stake in Sysco by 0.8% in the 2nd quarter. Arrow Financial Corp now owns 19,993 shares of the company’s stock worth $1,427,000 after purchasing an additional 155 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. JPMorgan Chase & Co. upped their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Wells Fargo & Company lowered their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group increased 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. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.77.

Insider Buying and Selling at Sysco

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the business’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 in the company, valued at approximately $3,638,670.10. The trade was a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the sale, the director now owns 12,955 shares in the company, valued at $966,831.65. The trade was a 18.29 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

Sysco Stock Performance

SYY stock opened at $80.37 on Thursday. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The business has a 50-day moving average price of $75.92 and a 200 day moving average price of $74.84. The company has a market capitalization of $39.48 billion, a P/E ratio of 20.66, a PEG ratio of 2.09 and a beta of 1.19. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.89.

Sysco (NYSE:SYY) last released its quarterly earnings data 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 the consensus estimate of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The business’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.07 earnings per share. As a group, equities research analysts forecast that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be paid a $0.51 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.54%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

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.