LaFleur & Godfrey LLC Reduces Stock Position in Sysco Co. (NYSE:SYY)

LaFleur & Godfrey LLC trimmed its stake in shares of Sysco Co. (NYSE:SYY) by 21.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,828 shares of the company’s stock after selling 2,450 shares during the quarter. LaFleur & Godfrey LLC’s holdings in Sysco were worth $689,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vontobel Holding Ltd. grew its stake in Sysco by 0.4% during the third quarter. Vontobel Holding Ltd. now owns 50,126 shares of the company’s stock valued at $3,913,000 after acquiring an additional 218 shares in the last quarter. Sumitomo Life Insurance Co. grew its position in shares of Sysco by 50.3% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 74,862 shares of the company’s stock valued at $5,844,000 after purchasing an additional 25,069 shares in the last quarter. Applied Capital LLC FL bought a new position in shares of Sysco in the third quarter worth $215,000. First Pacific Financial raised its position in shares of Sysco by 2.5% in the third quarter. First Pacific Financial now owns 10,751 shares of the company’s stock worth $839,000 after buying an additional 266 shares in the last quarter. Finally, Cabot Wealth Management Inc. boosted its stake in Sysco by 2.1% during the third quarter. Cabot Wealth Management Inc. now owns 143,084 shares of the company’s stock valued at $11,169,000 after buying an additional 2,986 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Trading Up 0.3 %

NYSE:SYY traded up $0.26 during midday trading on Wednesday, reaching $75.82. 1,219,485 shares of the stock traded hands, compared to its average volume of 3,153,473. The stock has a market capitalization of $37.76 billion, a P/E ratio of 18.44, a PEG ratio of 1.92 and a beta of 1.20. Sysco Co. has a 12 month low of $64.16 and a 12 month high of $82.89. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. The company has a fifty day moving average of $76.55 and a 200 day moving average of $74.95.

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

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Friday, October 4th. Sysco’s payout ratio is 49.76%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SYY. Barclays raised their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Jefferies Financial Group lifted their target price on shares of 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. Bank of America cut their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Finally, Morgan Stanley dropped their price target on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Sysco has an average rating of “Moderate Buy” and a consensus target price of $86.08.

Sysco Company 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.