Sysco Co. (NYSE:SYY) Shares Sold by D.B. Root & Company LLC

D.B. Root & Company LLC lowered its holdings in Sysco Co. (NYSE:SYY) by 25.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,014 shares of the company’s stock after selling 2,375 shares during the period. D.B. Root & Company LLC’s holdings in Sysco were worth $548,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SYY. TruNorth Capital Management LLC acquired a new position in shares of Sysco in the second quarter valued at approximately $25,000. Armstrong Advisory Group Inc. grew its holdings in shares of Sysco by 1,240.0% in the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after purchasing an additional 310 shares in the last quarter. Focused Wealth Management Inc acquired a new position in shares of Sysco in the third quarter valued at approximately $37,000. Fairscale Capital LLC acquired a new position in shares of Sysco in the second quarter valued at approximately $38,000. Finally, Canoe Financial LP acquired a new position in shares of Sysco in the third quarter valued at approximately $38,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of Sysco stock opened at $77.01 on Thursday. The firm’s fifty day simple moving average is $76.17 and its 200-day simple moving average is $74.74. The stock 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 12 month low of $66.27 and a 12 month high of $82.89. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The business 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%. The business’s revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.07 earnings per share. As a group, equities analysts forecast that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Announces Dividend

The company also recently disclosed 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 of this dividend was Friday, October 4th. This represents a $2.04 annualized dividend and a yield of 2.65%. Sysco’s dividend payout ratio is currently 52.44%.

Insider Buying and Selling at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at approximately $3,638,670.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wells Fargo & Company decreased their price target 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. JPMorgan Chase & Co. lifted their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Morgan Stanley decreased their price target on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Bank of America decreased their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.77.

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.