L.M. Kohn & Company Buys 179 Shares of Sysco Co. (NYSE:SYY)

L.M. Kohn & Company lifted its stake in shares of Sysco Co. (NYSE:SYY) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,739 shares of the company’s stock after acquiring an additional 179 shares during the quarter. L.M. Kohn & Company’s holdings in Sysco were worth $604,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. TruNorth Capital Management LLC bought a new stake in shares of Sysco during the 2nd quarter worth about $25,000. Armstrong Advisory Group Inc. lifted its position 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 purchasing an additional 310 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Sysco during the 3rd quarter worth about $26,000. Valley Wealth Managers Inc. acquired a new position in shares of Sysco during the 3rd quarter worth about $31,000. Finally, Focused Wealth Management Inc acquired a new position in shares of Sysco during the 3rd quarter worth about $37,000. Institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

SYY has been the subject of several research analyst reports. Wells Fargo & Company cut their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Jefferies Financial Group boosted their price objective on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. boosted their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and a consensus price target of $85.77.

Insider Transactions at Sysco

In related news, 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 directly owns 48,451 shares in the company, valued at $3,638,670.10. This represents a 7.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sheila Talton sold 2,900 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the sale, the director now owns 12,955 shares in the company, valued at approximately $966,831.65. This trade represents a 18.29 % 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 Trading Up 0.6 %

Sysco stock opened at $77.11 on Friday. Sysco Co. has a 12 month low of $69.03 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 has a 50 day moving average price of $75.78 and a two-hundred day moving average price of $74.79. The stock has a market cap of $37.88 billion, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 2.01 and a beta of 1.20.

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 company 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 posted $1.07 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, equities analysts forecast that Sysco Co. will post 4.57 EPS for the current year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be issued a $0.51 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.65%. Sysco’s payout ratio is presently 52.44%.

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.