Jacobs & Co. CA Has $9.95 Million Stock Holdings in Sysco Co. (NYSE:SYY)

Jacobs & Co. CA lessened its position in shares of Sysco Co. (NYSE:SYY) by 0.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 130,097 shares of the company’s stock after selling 739 shares during the period. Jacobs & Co. CA’s holdings in Sysco were worth $9,947,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Armstrong Advisory Group Inc. boosted its stake in shares of Sysco by 1,240.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after acquiring an additional 310 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of Sysco during the 3rd quarter worth about $26,000. Valley Wealth Managers Inc. bought a new stake in shares of Sysco during the 3rd quarter worth about $31,000. Focused Wealth Management Inc acquired a new position in Sysco in the 3rd quarter valued at about $37,000. Finally, Fairscale Capital LLC bought a new position in Sysco in the 2nd quarter valued at about $38,000. 83.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Jefferies Financial Group lifted their price objective on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Melius began coverage on shares of Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target for the company. Wells Fargo & Company dropped their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Finally, Melius Research upgraded shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $85.93.

Insider Buying and Selling

In related news, EVP Greg D. Bertrand sold 21,844 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $1,747,520.00. Following the transaction, the executive vice president now directly owns 60,581 shares in the company, valued at approximately $4,846,480. This represents a 26.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of the transaction, the director now directly owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. This represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 83,306 shares of company stock valued at $6,485,050. 0.54% of the stock is owned by insiders.

Sysco Stock Performance

Shares of Sysco stock traded down $1.09 during trading hours on Friday, hitting $73.76. 1,343,813 shares of the company’s stock traded hands, compared to its average volume of 1,703,003. The company has a fifty day simple moving average of $77.05 and a 200-day simple moving average of $75.73. 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 stock has a market capitalization of $36.23 billion, a price-to-earnings ratio of 18.96, a PEG ratio of 2.10 and a beta of 1.18. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.89.

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

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.77%. Sysco’s payout ratio is 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.