Catalyst Capital Advisors LLC Makes New Investment in Sysco Co. (NYSE:SYY)

Catalyst Capital Advisors LLC acquired a new position in shares of Sysco Co. (NYSE:SYY) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 965 shares of the company’s stock, valued at approximately $75,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. TruNorth Capital Management LLC acquired a new stake in shares of Sysco during the second quarter worth $25,000. Armstrong Advisory Group Inc. lifted its holdings in shares of Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after buying an additional 310 shares in the last quarter. Fairscale Capital LLC acquired a new stake in shares of Sysco during the second quarter worth $38,000. Canoe Financial LP acquired a new stake in shares of Sysco during the third quarter worth $38,000. Finally, LRI Investments LLC acquired a new stake in shares of Sysco during the first quarter worth $45,000. 83.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SYY shares. JPMorgan Chase & Co. lifted their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Barclays boosted their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Bank of America dropped their price target on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Jefferies Financial Group boosted their price target on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $85.77.

Sysco Stock Performance

Sysco stock opened at $77.01 on Thursday. Sysco Co. has a 12-month low of $66.27 and a 12-month high of $82.89. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The business’s 50-day moving average price is $76.17 and its two-hundred day moving average price is $74.74. The stock has a market cap of $37.83 billion, a PE ratio of 19.80, a P/E/G ratio of 1.98 and a beta of 1.20.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.04). The firm had revenue of $20.48 billion for 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% on a year-over-year basis. During the same quarter last year, the firm posted $1.07 earnings per share. As a group, analysts expect that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend was Friday, October 4th. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Insider Transactions at Sysco

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the sale, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.54% of the company’s stock.

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.