Trueblood Wealth Management LLC Has $209,000 Stock Holdings in Sysco Co. (NYSE:SYY)

Trueblood Wealth Management LLC lessened its stake in shares of Sysco Co. (NYSE:SYY) by 5.4% during the third quarter, Holdings Channel.com reports. The firm owned 2,680 shares of the company’s stock after selling 152 shares during the period. Trueblood Wealth Management LLC’s holdings in Sysco were worth $209,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital Research Global Investors grew its position in Sysco by 112.8% in the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock valued at $536,770,000 after purchasing an additional 3,504,740 shares during the period. ProShare Advisors LLC grew its holdings in shares of Sysco by 103.0% during the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock valued at $338,830,000 after buying an additional 2,408,226 shares during the last quarter. Swedbank AB bought a new stake in shares of Sysco during the first quarter worth about $178,824,000. Diamond Hill Capital Management Inc. raised its holdings in shares of Sysco by 49.8% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock worth $429,240,000 after acquiring an additional 1,997,895 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Sysco by 26.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock valued at $615,076,000 after acquiring an additional 1,782,180 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Sysco Price Performance

Shares of NYSE SYY opened at $73.92 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. The stock has a fifty day simple moving average of $76.42 and a two-hundred day simple moving average of $74.78. Sysco Co. has a 1-year low of $64.28 and a 1-year high of $82.89. The firm has a market cap of $36.31 billion, a price-to-earnings ratio of 19.00, a price-to-earnings-growth ratio of 1.95 and a beta of 1.20.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.01. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The company had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.51 billion. During the same quarter in the prior year, the company earned $1.34 EPS. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. Analysts anticipate that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Friday, October 4th. Sysco’s payout ratio is currently 52.44%.

Analysts Set New Price Targets

SYY has been the subject of a number of recent research reports. Jefferies Financial Group boosted their price objective on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. Barclays upped their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. raised their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, 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 report on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $86.08.

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.