Kiltearn Partners LLP Sells 38,300 Shares of Sysco Co. (NYSE:SYY)

Kiltearn Partners LLP decreased its holdings in Sysco Co. (NYSE:SYY) by 15.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 203,500 shares of the company’s stock after selling 38,300 shares during the period. Sysco comprises 2.2% of Kiltearn Partners LLP’s holdings, making the stock its 20th biggest position. Kiltearn Partners LLP’s holdings in Sysco were worth $15,885,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. TruNorth Capital Management LLC acquired a new stake in shares of Sysco in the second quarter valued at approximately $25,000. Armstrong Advisory Group Inc. raised its holdings in Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after acquiring an additional 310 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Sysco during the 3rd quarter valued at $26,000. Valley Wealth Managers Inc. bought a new position in shares of Sysco in the third quarter worth $31,000. Finally, Focused Wealth Management Inc acquired a new position in shares of Sysco in the 3rd quarter valued at approximately $37,000. Institutional investors own 83.41% of the company’s stock.

Insider Activity at Sysco

In other Sysco news, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 12,955 shares in the company, valued at $966,831.65. This represents a 18.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the sale, the senior vice president now owns 48,451 shares in the company, valued at $3,638,670.10. The trade was 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 owned by insiders.

Sysco Price Performance

Shares of SYY opened at $76.39 on Wednesday. The business’s fifty day moving average is $75.65 and its 200 day moving average is $74.75. 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 stock has a market cap of $37.52 billion, a P/E ratio of 19.64, a P/E/G ratio of 2.02 and a beta of 1.20.

Sysco (NYSE:SYY) last released 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 net margin of 2.44% and a return on equity of 101.04%. The business had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. During the same period last year, the business posted $1.07 earnings per share. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. Sell-side analysts anticipate that Sysco Co. will post 4.57 earnings per share for the current fiscal 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 of this dividend is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.67%. Sysco’s dividend payout ratio is presently 52.44%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Barclays boosted their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. 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. Wells Fargo & Company dropped their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Finally, StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and an average price target of $85.77.

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.