Sysco Co. (NYSE:SYY) Shares Sold by Deseret Mutual Benefit Administrators

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

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SYY. ORG Partners LLC increased its holdings in shares of Sysco by 3,159.0% in the second quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock valued at $495,000 after purchasing an additional 6,855 shares during the period. Mizuho Markets Americas LLC increased its holdings in Sysco by 102.1% in the 1st quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock worth $11,355,000 after buying an additional 70,660 shares during the period. National Pension Service lifted its stake in Sysco by 15.6% during the 3rd quarter. National Pension Service now owns 1,237,017 shares of the company’s stock valued at $96,562,000 after acquiring an additional 166,798 shares during the period. Wedge Capital Management L L P NC boosted its holdings in shares of Sysco by 11.6% in the 2nd quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock valued at $12,577,000 after acquiring an additional 18,296 shares during the last quarter. Finally, Shell Asset Management Co. increased its stake in shares of Sysco by 205.0% in the first quarter. Shell Asset Management Co. now owns 14,305 shares of the company’s stock worth $1,161,000 after acquiring an additional 9,615 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the sale, the senior vice president now directly owns 48,451 shares in the company, valued at $3,638,670.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.54% of the stock is currently owned by corporate insiders.

Sysco Stock Up 0.9 %

Shares of NYSE SYY opened at $77.01 on Thursday. The firm has a market cap of $37.83 billion, a price-to-earnings ratio of 19.80, a price-to-earnings-growth ratio of 1.98 and a beta of 1.20. The company’s 50-day simple moving average is $76.17 and its 200-day simple moving average is $74.74. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. Sysco Co. has a 52-week low of $66.27 and a 52-week 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 the consensus estimate 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 return on equity of 101.04% and a net margin of 2.44%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.07 earnings per share. Equities analysts predict that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders 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 yield of 2.65%. Sysco’s payout ratio is currently 52.44%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SYY shares. Barclays boosted their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Bank of America lowered their target price on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Morgan Stanley reduced their price target on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Jefferies Financial Group upped their price objective on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. lifted 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. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.77.

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.