Sysco Co. (NYSE:SYY) Shares Sold by NorthRock Partners LLC

NorthRock Partners LLC lessened its position in shares of Sysco Co. (NYSE:SYY) by 6.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,808 shares of the company’s stock after selling 192 shares during the quarter. NorthRock Partners LLC’s holdings in Sysco were worth $219,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SYY. TruNorth Capital Management LLC acquired a new position in Sysco during the second quarter worth about $25,000. Armstrong Advisory Group Inc. increased its stake in shares of Sysco by 1,240.0% during the 3rd 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. Fairscale Capital LLC acquired a new position in shares of Sysco during the 2nd quarter worth approximately $38,000. Canoe Financial LP purchased a new stake in Sysco in the 3rd quarter valued at approximately $38,000. Finally, LRI Investments LLC acquired a new stake in Sysco during the 1st quarter valued at $45,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. 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. Bank of America cut their target price 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. JPMorgan Chase & Co. raised 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. Jefferies Financial Group boosted their price objective on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Finally, StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Sysco has an average rating of “Moderate Buy” and an average price target of $85.77.

Insiders Place Their Bets

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the firm’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 owns 48,451 shares of the company’s stock, valued at approximately $3,638,670.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.54% of the stock is owned by insiders.

Sysco Stock Up 0.9 %

Shares of SYY opened at $77.01 on Thursday. The firm has a market cap of $37.83 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 1.98 and a beta of 1.20. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The company’s fifty day moving average is $76.17 and its two-hundred day moving average is $74.74. Sysco Co. has a fifty-two week low of $66.27 and a fifty-two week high of $82.89.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The firm had revenue of $20.48 billion for 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%. Sysco’s revenue was up 4.4% on a year-over-year basis. During the same period last year, the firm posted $1.07 EPS. Analysts forecast that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were issued a $0.51 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.04 annualized dividend and a yield of 2.65%. Sysco’s payout ratio is 52.44%.

Sysco Company 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.