Dumont & Blake Investment Advisors LLC Lowers Position in Sysco Co. (NYSE:SYY)

Dumont & Blake Investment Advisors LLC decreased its holdings in shares of Sysco Co. (NYSE:SYY) by 50.2% in the 3rd quarter, Holdings Channel reports. The firm owned 16,214 shares of the company’s stock after selling 16,320 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in Sysco were worth $1,266,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Plimoth Trust Co. LLC lifted its holdings in shares of Sysco by 0.6% during the 2nd quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock worth $1,610,000 after acquiring an additional 139 shares during the last quarter. Meeder Advisory Services Inc. increased its position in shares of Sysco by 1.7% during the 1st quarter. Meeder Advisory Services Inc. now owns 8,362 shares of the company’s stock valued at $679,000 after purchasing an additional 141 shares during the last quarter. Koshinski Asset Management Inc. raised its holdings in shares of Sysco by 3.1% during the 3rd quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock valued at $383,000 after buying an additional 146 shares in the last quarter. NorthRock Partners LLC lifted its position in Sysco by 3.7% in the 1st quarter. NorthRock Partners LLC now owns 4,121 shares of the company’s stock worth $335,000 after buying an additional 147 shares during the last quarter. Finally, Winthrop Advisory Group LLC boosted its stake in Sysco by 3.7% in the first quarter. Winthrop Advisory Group LLC now owns 4,120 shares of the company’s stock worth $334,000 after buying an additional 148 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SYY shares. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday. JPMorgan Chase & Co. upped their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Barclays boosted their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Morgan Stanley lowered their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Finally, Jefferies Financial Group increased their price target on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $86.08.

Sysco Stock Performance

Shares of SYY traded up $0.07 during mid-day trading on Friday, hitting $74.45. 164,793 shares of the company traded hands, compared to its average volume of 3,136,251. Sysco Co. has a 1 year low of $64.28 and a 1 year high of $82.89. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. The stock has a 50-day moving average price of $76.51 and a two-hundred day moving average price of $74.82. The stock has a market cap of $36.57 billion, a price-to-earnings ratio of 19.12, a P/E/G ratio of 1.95 and a beta of 1.20.

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

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Friday, October 4th. Sysco’s payout ratio is 52.44%.

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.