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

Stanley Laman Group Ltd. lowered its holdings in Sysco Co. (NYSE:SYY) by 2.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 47,661 shares of the company’s stock after selling 948 shares during the period. Stanley Laman Group Ltd.’s holdings in Sysco were worth $3,720,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. ORG Partners LLC boosted its stake in Sysco by 3,159.0% during the 2nd quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock valued at $495,000 after acquiring an additional 6,855 shares during the last quarter. Mizuho Markets Americas LLC lifted its holdings in Sysco by 102.1% during the 1st quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock worth $11,355,000 after buying an additional 70,660 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in Sysco by 11.6% during the 2nd quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock worth $12,577,000 after buying an additional 18,296 shares during the last quarter. Diversify Advisory Services LLC acquired a new position in shares of Sysco in the 1st quarter worth approximately $1,677,000. Finally, Shell Asset Management Co. increased its holdings in shares of Sysco by 205.0% in the 1st quarter. Shell Asset Management Co. now owns 14,305 shares of the company’s stock valued at $1,161,000 after acquiring an additional 9,615 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Performance

SYY opened at $74.80 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. The firm has a market cap of $36.74 billion, a PE ratio of 19.23, a P/E/G ratio of 1.97 and a beta of 1.20. The business has a fifty day simple moving average of $76.53 and a 200-day simple moving average of $74.82. Sysco Co. has a fifty-two week low of $64.28 and a fifty-two week high of $82.89.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The business had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. Sysco’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the company posted $1.34 EPS. As a group, equities analysts predict that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be issued a dividend of $0.51 per share. The ex-dividend date 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%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Jefferies Financial Group raised their price target on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday. Morgan Stanley cut their price target on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Barclays raised their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Bank of America reduced their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.08.

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.