King Luther Capital Management Corp Reduces Position in Sysco Co. (NYSE:SYY)

King Luther Capital Management Corp lowered its position in Sysco Co. (NYSE:SYY) by 2.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 38,792 shares of the company’s stock after selling 961 shares during the period. King Luther Capital Management Corp’s holdings in Sysco were worth $3,028,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of SYY. Plimoth Trust Co. LLC boosted its stake in 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 purchasing an additional 139 shares during the period. Koshinski Asset Management Inc. grew its holdings in shares of Sysco by 3.1% during the third quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock worth $383,000 after buying an additional 146 shares during the last quarter. Powers Advisory Group LLC increased its position in Sysco by 1.6% in the 2nd quarter. Powers Advisory Group LLC now owns 9,555 shares of the company’s stock valued at $682,000 after acquiring an additional 149 shares during the period. Cable Hill Partners LLC raised its stake in Sysco by 3.9% during the 3rd quarter. Cable Hill Partners LLC now owns 4,049 shares of the company’s stock valued at $316,000 after acquiring an additional 152 shares during the last quarter. Finally, Arrow Financial Corp lifted its position in Sysco by 0.8% during the 2nd quarter. Arrow Financial Corp now owns 19,993 shares of the company’s stock worth $1,427,000 after acquiring an additional 155 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Sysco

In related news, Director Sheila Talton sold 2,900 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were 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 of the company’s stock, valued at approximately $966,831.65. The trade was a 18.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Eve M. Mcfadden sold 4,036 shares of the firm’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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Barclays boosted their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Jefferies Financial Group upped their price objective on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Wells Fargo & Company lowered their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.77.

Sysco Price Performance

Shares of NYSE:SYY opened at $75.79 on Friday. The firm has a market capitalization of $37.23 billion, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 1.95 and a beta of 1.20. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The business’s 50 day simple moving average is $75.69 and its 200-day simple moving average is $74.74. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.89.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, October 29th. The company reported $1.09 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 firm had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.47 billion. During the same quarter in the previous year, the firm posted $1.07 earnings per share. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, equities analysts forecast that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Friday, January 3rd. Sysco’s payout ratio is currently 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.