Sysco Co. (NYSE:SYY) Shares Bought by Graypoint LLC

Graypoint LLC boosted its position in Sysco Co. (NYSE:SYY) by 12.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,100 shares of the company’s stock after buying an additional 443 shares during the quarter. Graypoint LLC’s holdings in Sysco were worth $320,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Radnor Capital Management LLC bought a new position in Sysco during the third quarter worth $491,000. Focused Wealth Management Inc bought a new position in shares of Sysco during the third quarter valued at approximately $37,000. Pittenger & Anderson Inc. raised its position in shares of Sysco by 7.8% during the 3rd quarter. Pittenger & Anderson Inc. now owns 4,211 shares of the company’s stock worth $329,000 after purchasing an additional 305 shares during the period. Moloney Securities Asset Management LLC lifted its holdings in shares of Sysco by 4.1% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 14,482 shares of the company’s stock worth $1,130,000 after purchasing an additional 564 shares during the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in Sysco during the 3rd quarter valued at approximately $75,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Performance

NYSE:SYY opened at $77.41 on Friday. The company has a 50-day moving average of $76.14 and a 200-day moving average of $74.76. The firm has a market cap of $38.03 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 2.02 and a beta of 1.20. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. Sysco Co. has a twelve month low of $66.27 and a twelve month high of $82.89.

Sysco (NYSE:SYY) last issued its earnings results 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 business had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. During the same quarter in the previous year, the business posted $1.07 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. Analysts forecast 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 was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.64%. The ex-dividend date was Friday, October 4th. Sysco’s dividend payout ratio is 52.44%.

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of recent research reports. Morgan Stanley cut their target price on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Barclays upped their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Jefferies Financial Group lifted their price target on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, Wells Fargo & Company lowered their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.77.

Insider Activity at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the business’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 owns 48,451 shares in the company, valued at approximately $3,638,670.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

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.