Bard Financial Services Inc. Reduces Position in Sysco Co. (NYSE:SYY)

Bard Financial Services Inc. cut its stake in shares of Sysco Co. (NYSE:SYY) by 10.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,535 shares of the company’s stock after selling 9,425 shares during the quarter. Bard Financial Services Inc.’s holdings in Sysco were worth $6,365,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Plimoth Trust Co. LLC grew its holdings in shares of Sysco by 0.6% during the second quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock valued at $1,610,000 after buying an additional 139 shares during the last quarter. Koshinski Asset Management Inc. lifted its position in Sysco by 3.1% during the third quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock valued at $383,000 after purchasing an additional 146 shares during the period. Powers Advisory Group LLC lifted its position in Sysco by 1.6% during the second quarter. Powers Advisory Group LLC now owns 9,555 shares of the company’s stock valued at $682,000 after purchasing an additional 149 shares during the period. Cable Hill Partners LLC lifted its position in Sysco by 3.9% during the third quarter. Cable Hill Partners LLC now owns 4,049 shares of the company’s stock valued at $316,000 after purchasing an additional 152 shares during the period. Finally, Arrow Financial Corp lifted its position in Sysco by 0.8% during the second quarter. Arrow Financial Corp now owns 19,993 shares of the company’s stock valued at $1,427,000 after purchasing an additional 155 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction that occurred 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 completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the sale, the director now owns 12,955 shares of the company’s stock, valued at $966,831.65. This trade represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,279 shares of company stock valued at $2,786,971 in the last 90 days. Company insiders own 0.54% of the company’s stock.

Sysco Stock Down 0.3 %

Shares of NYSE SYY opened at $80.82 on Wednesday. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.89. The stock has a market cap of $39.70 billion, a PE ratio of 20.78, a P/E/G ratio of 2.12 and a beta of 1.19. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The company has a 50-day moving average of $76.12 and a 200 day moving average of $74.99.

Sysco (NYSE:SYY) last posted 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). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.47 billion. During the same period last year, the company earned $1.07 EPS. The business’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, sell-side analysts predict that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.52%. Sysco’s dividend payout ratio (DPR) is 52.44%.

Analyst Ratings Changes

A number of research firms have recently commented on SYY. Wells Fargo & Company cut their target price 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. JPMorgan Chase & Co. boosted their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Jefferies Financial Group boosted their target price on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $85.77.

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.