Deseret Mutual Benefit Administrators Trims Position in Sysco Co. (NYSE:SYY)

Deseret Mutual Benefit Administrators lowered its position in Sysco Co. (NYSE:SYY) by 10.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,311 shares of the company’s stock after selling 392 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in Sysco were worth $258,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SYY. Plimoth Trust Co. LLC increased its holdings in shares of Sysco by 0.6% during the 2nd quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock worth $1,610,000 after buying an additional 139 shares during the last quarter. Meeder Advisory Services Inc. raised its position in Sysco by 1.7% in the first quarter. Meeder Advisory Services Inc. now owns 8,362 shares of the company’s stock valued at $679,000 after purchasing an additional 141 shares during the period. Koshinski Asset Management Inc. lifted its stake in shares of Sysco by 3.1% in the 3rd quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock valued at $383,000 after purchasing an additional 146 shares during the last quarter. NorthRock Partners LLC grew its holdings in shares of Sysco by 3.7% during the 1st quarter. NorthRock Partners LLC now owns 4,121 shares of the company’s stock worth $335,000 after purchasing an additional 147 shares during the period. Finally, Powers Advisory Group LLC increased its position in shares of Sysco by 1.6% during 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 last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SYY has been the subject of several research analyst reports. Wells Fargo & Company lowered 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. Morgan Stanley lowered 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 report on Tuesday, July 16th. Bank of America cut their target price on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Barclays lifted their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. increased their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and an average target price of $85.77.

Sysco Stock Up 0.9 %

SYY stock opened at $77.01 on Thursday. The company’s 50 day moving average price is $76.17 and its 200 day moving average price is $74.74. The firm has a market capitalization of $37.83 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 1.98 and a beta of 1.20. Sysco Co. has a fifty-two week low of $66.27 and a fifty-two week high of $82.89. 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 for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The firm had revenue of $20.48 billion during the quarter, compared to analyst estimates 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 in the previous year, the business posted $1.07 earnings per share. On average, equities research analysts anticipate that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were issued 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 dividend yield of 2.65%. Sysco’s payout ratio is currently 52.44%.

Insider Transactions at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the firm’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 transaction of $303,103.60. Following the sale, the senior vice president now owns 48,451 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.