Bartlett & CO. Wealth Management LLC Cuts Position in Sysco Co. (NYSE:SYY)

Bartlett & CO. Wealth Management LLC reduced its stake in shares of Sysco Co. (NYSE:SYY) by 1.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 89,135 shares of the company’s stock after selling 1,554 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Sysco were worth $6,958,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of SYY. Capital Research Global Investors increased its holdings in Sysco by 112.8% during the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock valued at $536,770,000 after acquiring an additional 3,504,740 shares in the last quarter. ProShare Advisors LLC increased its stake in Sysco by 103.0% in the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock valued at $338,830,000 after purchasing an additional 2,408,226 shares during the last quarter. Swedbank AB purchased a new stake in Sysco in the 1st quarter valued at about $178,824,000. Diamond Hill Capital Management Inc. raised its stake in Sysco by 49.8% during the second quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock worth $429,240,000 after purchasing an additional 1,997,895 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of 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 purchasing an additional 1,782,180 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Trading Up 0.2 %

Shares of NYSE SYY opened at $75.54 on Friday. The company has a market cap of $37.11 billion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 1.96 and a beta of 1.20. The stock’s 50 day simple moving average is $76.55 and its 200 day simple moving average is $74.92. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. Sysco Co. has a 12-month low of $64.28 and a 12-month high of $82.89.

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

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, October 4th. This represents a $2.04 annualized dividend and a yield of 2.70%. Sysco’s payout ratio is 52.44%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Bank of America cut their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Jefferies Financial Group raised their target price on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Morgan Stanley cut their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Barclays raised their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.