Sysco Co. (NYSE:SYY) Shares Sold by Benin Management CORP

Benin Management CORP decreased its position in shares of Sysco Co. (NYSE:SYY) by 1.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,263 shares of the company’s stock after selling 518 shares during the quarter. Sysco accounts for approximately 0.6% of Benin Management CORP’s portfolio, making the stock its 27th largest holding. Benin Management CORP’s holdings in Sysco were worth $2,050,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SYY. TruNorth Capital Management LLC purchased a new stake in Sysco in the 2nd quarter worth $25,000. Armstrong Advisory Group Inc. increased its holdings in Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after acquiring an additional 310 shares in the last quarter. OFI Invest Asset Management purchased a new stake in Sysco in the 1st quarter worth $31,000. Fairscale Capital LLC purchased a new stake in Sysco in the 2nd quarter worth $38,000. Finally, LRI Investments LLC purchased a new stake in Sysco in the 1st quarter worth $45,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Trading Up 0.5 %

Shares of SYY stock traded up $0.36 on Monday, hitting $75.90. 519,776 shares of the stock traded hands, compared to its average volume of 3,150,780. The firm’s 50-day moving average price is $76.55 and its two-hundred day moving average price is $74.85. Sysco Co. has a twelve month low of $64.28 and a twelve month high of $82.89. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. The stock has a market capitalization of $37.29 billion, a PE ratio of 19.42, a PEG ratio of 1.97 and a beta of 1.20.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company had revenue of $20.56 billion for the quarter, compared to analysts’ expectations of $20.51 billion. During the same quarter in the prior year, the company posted $1.34 earnings per share. Sysco’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, analysts anticipate that Sysco Co. will post 4.6 EPS for the current year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be given a $0.51 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.69%. Sysco’s payout ratio is currently 52.44%.

Analysts Set New Price Targets

Several brokerages recently commented on SYY. Jefferies Financial Group boosted their price target on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Morgan Stanley dropped their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Barclays upped their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, Bank of America dropped their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $86.08.

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.