Quarry LP Sells 676 Shares of Sysco Co. (NYSE:SYY)

Quarry LP lessened its stake in shares of Sysco Co. (NYSE:SYY) by 54.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 572 shares of the company’s stock after selling 676 shares during the quarter. Quarry LP’s holdings in Sysco were worth $45,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in SYY. Parallax Volatility Advisers L.P. bought a new stake in Sysco during the 3rd quarter valued at approximately $2,156,000. Morse Asset Management Inc bought a new stake in Sysco during the 3rd quarter valued at approximately $390,000. IHT Wealth Management LLC boosted its stake in Sysco by 45.5% during the 3rd quarter. IHT Wealth Management LLC now owns 6,797 shares of the company’s stock valued at $530,000 after purchasing an additional 2,124 shares during the period. Investment Management Corp of Ontario boosted its stake in Sysco by 49.8% during the 3rd quarter. Investment Management Corp of Ontario now owns 16,547 shares of the company’s stock valued at $1,292,000 after purchasing an additional 5,500 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in Sysco by 4.1% during the 3rd quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock valued at $332,983,000 after purchasing an additional 168,163 shares during the period. Institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SYY. 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 reduced their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and an average price target of $85.77.

Insider Activity at Sysco

In related news, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 12,955 shares of the company’s stock, valued at $966,831.65. This trade represents a 18.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Eve M. Mcfadden sold 6,499 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,876,080. This represents a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,279 shares of company stock valued at $2,786,971 in the last three months. Corporate insiders own 0.54% of the company’s stock.

Sysco Trading Down 0.3 %

Shares of SYY opened at $80.82 on Wednesday. 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 $76.12 and a 200-day simple moving average of $74.99. The stock has a market cap of $39.70 billion, a PE ratio of 20.78, a PEG ratio of 2.12 and a beta of 1.19.

Sysco (NYSE:SYY) last issued its 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). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The company had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.47 billion. During the same period in the previous year, the company posted $1.07 earnings per share. The company’s quarterly revenue 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 2.52%. Sysco’s dividend 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.