Sysco Co. (NYSE:SYY) Shares Sold by Strategy Asset Managers LLC

Strategy Asset Managers LLC trimmed its position in shares of Sysco Co. (NYSE:SYY) by 32.6% in the third quarter, HoldingsChannel.com reports. The fund owned 39,492 shares of the company’s stock after selling 19,127 shares during the period. Strategy Asset Managers LLC’s holdings in Sysco were worth $3,083,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SYY. Armstrong Advisory Group Inc. lifted its position in shares of Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after purchasing an additional 310 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in Sysco during the 3rd quarter worth approximately $26,000. TruNorth Capital Management LLC acquired a new position in shares of Sysco in the second quarter worth $25,000. Valley Wealth Managers Inc. acquired a new position in shares of Sysco in the third quarter worth $31,000. Finally, Focused Wealth Management Inc purchased a new stake in shares of Sysco during the third quarter worth $37,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SYY has been the subject of several analyst reports. Barclays boosted their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. 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 report on Wednesday, September 25th. JPMorgan Chase & Co. boosted their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, Wells Fargo & Company reduced their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $85.77.

Insider Activity at Sysco

In related news, Director Sheila Talton sold 2,900 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the transaction, the director now owns 12,955 shares in the company, valued at $966,831.65. The trade was a 18.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,638,670.10. The trade was a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

Sysco Price Performance

Shares of SYY opened at $74.40 on Wednesday. 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 Co. has a 1-year low of $69.03 and a 1-year high of $82.89. The stock has a market cap of $36.55 billion, a PE ratio of 19.13, a price-to-earnings-growth ratio of 1.97 and a beta of 1.20. The firm has a fifty day moving average price of $75.79 and a 200 day moving average price of $74.75.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share 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 analysts’ expectations of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.07 earnings per share. As a group, sell-side analysts anticipate that Sysco Co. will post 4.57 EPS for the current year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be issued a $0.51 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.74%. Sysco’s payout ratio is 52.44%.

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.