Kiltearn Partners LLP Has $15.89 Million Stock Position in Sysco Co. (NYSE:SYY)

Kiltearn Partners LLP trimmed its position in shares of Sysco Co. (NYSE:SYY) by 15.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 203,500 shares of the company’s stock after selling 38,300 shares during the quarter. Sysco makes up about 2.2% of Kiltearn Partners LLP’s investment portfolio, making the stock its 20th biggest position. Kiltearn Partners LLP’s holdings in Sysco were worth $15,885,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

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

Sysco Stock Down 0.6 %

Shares of Sysco stock opened at $76.39 on Wednesday. The firm has a market cap of $37.52 billion, a PE ratio of 19.64, a P/E/G ratio of 2.02 and a beta of 1.20. The business’s 50 day simple moving average is $75.65 and its 200 day simple moving average is $74.75. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.89.

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

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s dividend payout ratio is currently 52.44%.

Insider Buying and Selling

In other Sysco news, 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 transaction, the director now owns 12,955 shares of the company’s stock, valued at $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the transaction, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,638,670.10. This represents 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 currently owned by corporate insiders.

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.