Reynders McVeigh Capital Management LLC Has $468,000 Stock Holdings in Sysco Co. (NYSE:SYY)

Reynders McVeigh Capital Management LLC trimmed its position in Sysco Co. (NYSE:SYY) by 28.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 6,000 shares of the company’s stock after selling 2,375 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Sysco were worth $468,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. CWM LLC increased its stake in shares of Sysco by 2.6% in the second quarter. CWM LLC now owns 45,065 shares of the company’s stock worth $3,217,000 after purchasing an additional 1,160 shares during the period. CX Institutional boosted its stake in Sysco by 0.7% during the 2nd quarter. CX Institutional now owns 47,785 shares of the company’s stock valued at $3,411,000 after purchasing an additional 326 shares during the period. Canandaigua National Bank & Trust Co. boosted its stake in Sysco by 16.0% during the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 8,527 shares of the company’s stock valued at $609,000 after purchasing an additional 1,175 shares during the period. Manning & Napier Advisors LLC bought a new stake in Sysco during the 2nd quarter valued at approximately $12,567,000. Finally, OLD National Bancorp IN boosted its stake in Sysco by 4.2% during the 2nd quarter. OLD National Bancorp IN now owns 24,686 shares of the company’s stock valued at $1,762,000 after purchasing an additional 997 shares during the period. 83.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Jefferies Financial Group increased their target price on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Wells Fargo & Company cut their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Finally, StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $85.77.

Sysco Trading Up 1.1 %

Shares of SYY opened at $80.37 on Thursday. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.89. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The stock has a 50 day simple moving average of $75.92 and a 200-day simple moving average of $74.84. The stock has a market cap of $39.48 billion, a PE ratio of 20.66, a PEG ratio of 2.09 and a beta of 1.19.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The business had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.47 billion. During the same period in the prior year, the business earned $1.07 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, sell-side analysts predict that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a yield of 2.54%. Sysco’s dividend payout ratio is 52.44%.

Insider Activity at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. This trade represents a 7.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

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.