Sysco Co. (NYSE:SYY) Shares Sold by Stanley Laman Group Ltd.

Stanley Laman Group Ltd. trimmed its stake in Sysco Co. (NYSE:SYY) by 2.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,661 shares of the company’s stock after selling 948 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Sysco were worth $3,720,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Global Assets Advisory LLC purchased a new position in Sysco in the 1st quarter valued at about $1,145,000. Wealthcare Advisory Partners LLC lifted its stake in shares of Sysco by 5.7% during the first quarter. Wealthcare Advisory Partners LLC now owns 10,314 shares of the company’s stock valued at $837,000 after buying an additional 559 shares during the period. Agate Pass Investment Management LLC boosted its position in Sysco by 3.0% during the first quarter. Agate Pass Investment Management LLC now owns 15,368 shares of the company’s stock worth $1,248,000 after acquiring an additional 445 shares during the last quarter. Exeter Financial LLC raised its holdings in Sysco by 2.8% in the 1st quarter. Exeter Financial LLC now owns 16,507 shares of the company’s stock valued at $1,264,000 after acquiring an additional 456 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Sysco by 3.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 160,434 shares of the company’s stock worth $13,024,000 after purchasing an additional 4,709 shares during the period. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SYY shares. Morgan Stanley lowered their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Bank of America decreased their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Jefferies Financial Group upped their price target on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Barclays lifted their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $86.08.

Sysco Stock Performance

NYSE:SYY opened at $74.80 on Wednesday. Sysco Co. has a twelve month low of $64.28 and a twelve month high of $82.89. The firm has a market capitalization of $36.74 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 1.97 and a beta of 1.20. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. The firm’s fifty day simple moving average is $76.53 and its 200 day simple moving average is $74.82.

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

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.73%. Sysco’s dividend payout ratio is currently 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.