Verity & Verity LLC Buys 412 Shares of Sysco Co. (NYSE:SYY)

Verity & Verity LLC lifted its stake in shares of Sysco Co. (NYSE:SYY) by 7.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,606 shares of the company’s stock after acquiring an additional 412 shares during the quarter. Verity & Verity LLC’s holdings in Sysco were worth $438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Plimoth Trust Co. LLC lifted its position in Sysco by 0.6% during the second quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock valued at $1,610,000 after purchasing an additional 139 shares during the last quarter. Koshinski Asset Management Inc. increased its holdings in shares of Sysco by 3.1% in 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 period. Powers Advisory Group LLC increased its stake in Sysco by 1.6% in the 2nd quarter. Powers Advisory Group LLC now owns 9,555 shares of the company’s stock worth $682,000 after purchasing an additional 149 shares during the period. Cable Hill Partners LLC increased its stake in shares of Sysco by 3.9% in the third quarter. Cable Hill Partners LLC now owns 4,049 shares of the company’s stock worth $316,000 after buying an additional 152 shares during the period. Finally, Arrow Financial Corp raised its stake in shares of Sysco by 0.8% during the second quarter. Arrow Financial Corp now owns 19,993 shares of the company’s stock valued at $1,427,000 after acquiring an additional 155 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Up 1.1 %

Shares of SYY opened at $75.76 on Tuesday. The stock has a market capitalization of $37.22 billion, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 1.97 and a beta of 1.20. The business’s 50 day simple moving average is $75.87 and its 200-day simple moving average is $74.75. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.89.

Sysco (NYSE:SYY) last released its quarterly 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). The firm had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. Sysco’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.07 earnings per share. As a group, equities analysts expect that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, 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 transaction, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. This trade represents a 7.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is owned by company insiders.

Sysco 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.