King Luther Capital Management Corp Decreases Stake in Sysco Co. (NYSE:SYY)

King Luther Capital Management Corp trimmed its holdings in Sysco Co. (NYSE:SYY) by 2.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,792 shares of the company’s stock after selling 961 shares during the period. King Luther Capital Management Corp’s holdings in Sysco were worth $3,028,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of SYY. EP Wealth Advisors LLC boosted its holdings in shares of Sysco by 10.5% during the 1st quarter. EP Wealth Advisors LLC now owns 8,356 shares of the company’s stock worth $678,000 after purchasing an additional 791 shares during the last quarter. Truvestments Capital LLC boosted its stake in Sysco by 140.3% during the first quarter. Truvestments Capital LLC now owns 930 shares of the company’s stock worth $76,000 after buying an additional 543 shares during the last quarter. LRI Investments LLC purchased a new stake in Sysco in the 1st quarter valued at $45,000. Epoch Investment Partners Inc. increased its stake in shares of Sysco by 26.5% in the 1st quarter. Epoch Investment Partners Inc. now owns 4,968 shares of the company’s stock worth $403,000 after acquiring an additional 1,042 shares during the last quarter. Finally, Kiltearn Partners LLP boosted its position in shares of Sysco by 7.8% during the 1st quarter. Kiltearn Partners LLP now owns 254,200 shares of the company’s stock valued at $20,481,000 after acquiring an additional 18,300 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sysco

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the company’s 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 completion of the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the sale, the director now owns 12,955 shares of the company’s stock, valued at $966,831.65. This represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on SYY shares. Barclays lifted their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. upped their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Wells Fargo & Company cut their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Jefferies Financial Group raised their price objective on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.77.

Sysco Stock Performance

Shares of SYY stock opened at $75.79 on Friday. The firm has a 50 day moving average of $75.69 and a two-hundred day moving average of $74.74. The stock has a market capitalization of $37.23 billion, a PE ratio of 19.48, a P/E/G ratio of 1.95 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. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.89.

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

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

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.