Moors & Cabot Inc. Buys 12,703 Shares of Sysco Co. (NYSE:SYY)

Moors & Cabot Inc. raised its stake in Sysco Co. (NYSE:SYY) by 45.8% during the third quarter, HoldingsChannel.com reports. The fund owned 40,428 shares of the company’s stock after acquiring an additional 12,703 shares during the quarter. Moors & Cabot Inc.’s holdings in Sysco were worth $3,149,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SYY. TruNorth Capital Management LLC acquired a new position in shares of Sysco during the second quarter valued at $25,000. Armstrong Advisory Group Inc. lifted its stake in Sysco by 1,240.0% in the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after buying an additional 310 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of Sysco during the third quarter worth about $26,000. Valley Wealth Managers Inc. acquired a new stake in shares of Sysco during the third quarter worth about $31,000. Finally, Focused Wealth Management Inc acquired a new stake in shares of Sysco during the third quarter worth about $37,000. 83.41% of the stock is currently owned by institutional investors.

Sysco Trading Down 1.0 %

Shares of SYY stock opened at $73.63 on Thursday. The company has a market cap of $36.17 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 1.95 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 firm has a fifty day moving average price of $75.74 and a 200-day moving average price of $74.74. 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 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The business had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.07 EPS. As a group, equities analysts predict that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a yield of 2.77%. Sysco’s dividend payout ratio is presently 52.44%.

Analyst Upgrades and Downgrades

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

Insider Activity at Sysco

In other news, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the transaction, the director now directly owns 12,955 shares in the company, valued at approximately $966,831.65. This represents a 18.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction that occurred on 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 owns 48,451 shares in the company, valued at approximately $3,638,670.10. This trade represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

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.