Carnegie Investment Counsel Sells 1,003 Shares of Sysco Co. (NYSE:SYY)

Carnegie Investment Counsel trimmed its position in shares of Sysco Co. (NYSE:SYY) by 4.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,425 shares of the company’s stock after selling 1,003 shares during the period. Carnegie Investment Counsel’s holdings in Sysco were worth $1,562,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Renaissance Technologies LLC lifted its position in shares of Sysco by 39.2% in the second quarter. Renaissance Technologies LLC now owns 160,182 shares of the company’s stock valued at $11,435,000 after acquiring an additional 45,082 shares in the last quarter. Axxcess Wealth Management LLC lifted its holdings in Sysco by 54.9% in the 2nd quarter. Axxcess Wealth Management LLC now owns 12,083 shares of the company’s stock worth $863,000 after purchasing an additional 4,285 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Sysco by 4.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 42,987 shares of the company’s stock worth $3,068,000 after purchasing an additional 1,682 shares during the period. Hsbc Holdings PLC grew its holdings in Sysco by 25.0% during the 2nd quarter. Hsbc Holdings PLC now owns 1,178,231 shares of the company’s stock valued at $84,233,000 after buying an additional 235,645 shares in the last quarter. Finally, Seven Eight Capital LP bought a new stake in shares of Sysco during the second quarter valued at approximately $1,402,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares in the company, valued at $4,335,408. This trade represents a 46.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the transaction, the senior vice president now owns 48,451 shares in the company, valued at $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 83,306 shares of company stock worth $6,485,050 over the last quarter. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SYY. Wells Fargo & Company dropped their target price on shares of 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 raised their price objective on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 16th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 13th. Melius Research upgraded Sysco to a “hold” rating in a report on Wednesday, December 18th. Finally, Melius initiated coverage on Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective on the stock. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $85.93.

Sysco Trading Down 0.3 %

SYY stock opened at $73.02 on Friday. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.89. The stock has a market capitalization of $35.87 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 1.93 and a beta of 1.18. 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 firm’s fifty day simple moving average is $76.80 and its two-hundred day simple moving average is $75.75.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share 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 analysts’ expectations of $20.47 billion. During the same period last year, the company earned $1.07 earnings per share. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, analysts anticipate that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s dividend payout ratio (DPR) 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.