Truvestments Capital LLC Makes New $71,000 Investment in Sysco Co. (NYSE:SYY)

Truvestments Capital LLC purchased a new position in shares of Sysco Co. (NYSE:SYY) during the third quarter, Holdings Channel reports. The firm purchased 905 shares of the company’s stock, valued at approximately $71,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Plimoth Trust Co. LLC lifted its position in shares of Sysco by 0.6% in the second quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock valued at $1,610,000 after acquiring an additional 139 shares in the last quarter. Koshinski Asset Management Inc. increased its holdings in shares of Sysco by 3.1% in the third quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock valued at $383,000 after purchasing an additional 146 shares during the last quarter. Powers Advisory Group LLC increased its holdings in shares of Sysco by 1.6% in the second quarter. Powers Advisory Group LLC now owns 9,555 shares of the company’s stock valued at $682,000 after purchasing an additional 149 shares during the last quarter. Cable Hill Partners LLC increased its stake in Sysco by 3.9% during the third quarter. Cable Hill Partners LLC now owns 4,049 shares of the company’s stock worth $316,000 after acquiring an additional 152 shares during the last quarter. Finally, Arrow Financial Corp increased its stake in Sysco by 0.8% during the second quarter. Arrow Financial Corp now owns 19,993 shares of the company’s stock worth $1,427,000 after acquiring an additional 155 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Sysco

In other news, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction dated 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 in the company, valued at approximately $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the sale, the senior vice president now owns 48,451 shares in the company, valued at $3,638,670.10. This trade represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Sysco Stock Down 0.6 %

Shares of NYSE SYY opened at $76.39 on Wednesday. The company has a market capitalization of $37.52 billion, a price-to-earnings ratio of 19.64, a price-to-earnings-growth ratio of 2.02 and a beta of 1.20. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The business has a 50-day moving average of $75.65 and a two-hundred day moving average of $74.75. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.89.

Sysco (NYSE:SYY) last announced 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). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The business had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.47 billion. During the same period last year, the firm earned $1.07 earnings per share. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. On average, analysts forecast that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Dividend Announcement

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

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.