Covestor Ltd Has $112,000 Stock Holdings in Sysco Co. (NYSE:SYY)

Covestor Ltd increased its holdings in shares of Sysco Co. (NYSE:SYY) by 26.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,432 shares of the company’s stock after acquiring an additional 302 shares during the period. Covestor Ltd’s holdings in Sysco were worth $112,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Armstrong Advisory Group Inc. lifted its position 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 buying an additional 310 shares during the period. TruNorth Capital Management LLC acquired a new position in Sysco during the second quarter worth $25,000. Focused Wealth Management Inc bought a new position in shares of Sysco during the third quarter valued at $37,000. Canoe Financial LP bought a new stake in shares of Sysco in the 3rd quarter worth about $38,000. Finally, Fairscale Capital LLC acquired a new stake in shares of Sysco during the 2nd quarter worth about $38,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on SYY shares. Jefferies Financial Group lifted their price objective on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. raised their price objective 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. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Bank of America lowered their target price on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, Wells Fargo & Company dropped their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.77.

Sysco Trading Down 0.8 %

SYY opened at $77.29 on Wednesday. The firm’s fifty day simple moving average is $76.14 and its 200 day simple moving average is $74.73. The stock has a market capitalization of $37.97 billion, a P/E ratio of 20.04, a P/E/G ratio of 2.03 and a beta of 1.20. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. Sysco Co. has a 12 month low of $66.87 and a 12 month high of $82.89.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The firm had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. During the same quarter in the previous year, the business posted $1.07 earnings per share. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, research analysts anticipate that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were paid a $0.51 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.04 annualized dividend and a yield of 2.64%. Sysco’s payout ratio is currently 52.44%.

Insiders Place Their Bets

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the company’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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.

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.