Sysco Co. (NYSE:SYY) Shares Sold by D.B. Root & Company LLC

D.B. Root & Company LLC cut its holdings in Sysco Co. (NYSE:SYY) by 25.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,014 shares of the company’s stock after selling 2,375 shares during the quarter. D.B. Root & Company LLC’s holdings in Sysco were worth $548,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SYY. TruNorth Capital Management LLC purchased a new stake in shares of Sysco in the 2nd quarter worth about $25,000. Armstrong Advisory Group Inc. boosted its position 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 buying an additional 310 shares in the last quarter. Focused Wealth Management Inc purchased a new stake in shares of Sysco in the 3rd quarter worth about $37,000. Fairscale Capital LLC purchased a new stake in shares of Sysco in the 2nd quarter worth about $38,000. Finally, Canoe Financial LP purchased a new stake in shares of Sysco in the 3rd quarter worth about $38,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Stock Up 0.9 %

SYY opened at $77.01 on Thursday. The firm has a 50 day moving average price of $76.17 and a 200 day moving average price of $74.74. Sysco Co. has a 1 year low of $66.27 and a 1 year high of $82.89. The company has a market cap of $37.83 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 1.98 and a beta of 1.20. 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 quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.04). The firm had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.07 earnings per share. Sell-side analysts expect that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date was Friday, October 4th. Sysco’s payout ratio is 52.44%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SYY shares. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. 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 report on Wednesday, October 30th. Jefferies Financial Group upped their target price on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. upped 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. Finally, Bank of America cut their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $85.77.

Insider Buying and Selling at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s stock in a transaction 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 sale, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.54% of the stock is currently owned by company 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.