Covestor Ltd Buys 302 Shares of Sysco Co. (NYSE:SYY)

Covestor Ltd raised its position in shares of Sysco Co. (NYSE:SYY) by 26.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,432 shares of the company’s stock after acquiring an additional 302 shares during the period. Covestor Ltd’s holdings in Sysco were worth $112,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SYY. Armstrong Advisory Group Inc. boosted its stake in Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after purchasing an additional 310 shares during the period. TruNorth Capital Management LLC acquired a new stake in shares of Sysco during the second quarter worth $25,000. Focused Wealth Management Inc acquired a new stake in shares of Sysco during the third quarter worth $37,000. Canoe Financial LP bought a new stake in shares of Sysco in the third quarter valued at about $38,000. Finally, Fairscale Capital LLC acquired a new position in shares of Sysco in the second quarter valued at about $38,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. 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 research note on Wednesday, October 30th. Bank of America cut 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 raised their price objective on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Finally, Morgan Stanley dropped their price target on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sysco currently has an average rating of “Moderate Buy” and a consensus price target of $85.77.

Sysco Stock Performance

NYSE SYY opened at $77.29 on Wednesday. The firm’s fifty day moving average price is $76.14 and its two-hundred day moving average price is $74.73. The stock has a market cap of $37.97 billion, a PE ratio of 20.04, a PEG ratio of 2.03 and a beta of 1.20. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. Sysco Co. has a fifty-two week low of $66.87 and a fifty-two week high of $82.89.

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 firm 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 earned $1.07 EPS. Sysco’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities analysts expect that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend was Friday, October 4th. Sysco’s payout ratio is 52.44%.

Insider Buying and Selling at Sysco

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the business’s stock in a transaction on Friday, November 1st. The shares were 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 of the company’s stock, valued at $3,638,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.54% of the company’s stock.

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.