L.M. Kohn & Company Purchases 179 Shares of Sysco Co. (NYSE:SYY)

L.M. Kohn & Company raised its position in Sysco Co. (NYSE:SYY) by 2.4% during the third quarter, Holdings Channel reports. The institutional investor owned 7,739 shares of the company’s stock after buying an additional 179 shares during the quarter. L.M. Kohn & Company’s holdings in Sysco were worth $604,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec bought a new position in Sysco in the 3rd quarter valued at $5,961,000. Captrust Financial Advisors boosted its position in Sysco by 7.7% in the 3rd quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock valued at $9,706,000 after buying an additional 8,891 shares during the last quarter. Isthmus Partners LLC lifted its stake in shares of Sysco by 2.4% in the 3rd quarter. Isthmus Partners LLC now owns 151,405 shares of the company’s stock valued at $11,819,000 after purchasing an additional 3,615 shares during the period. Vinva Investment Management Ltd lifted its stake in shares of Sysco by 13.7% in the 3rd quarter. Vinva Investment Management Ltd now owns 23,133 shares of the company’s stock valued at $1,797,000 after purchasing an additional 2,782 shares during the period. Finally, Financial Counselors Inc. lifted its stake in shares of Sysco by 5.0% in the 3rd quarter. Financial Counselors Inc. now owns 10,794 shares of the company’s stock valued at $843,000 after purchasing an additional 516 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Sysco Stock Performance

Shares of Sysco stock opened at $77.11 on Friday. The stock’s fifty day simple moving average is $75.78 and its 200 day simple moving average is $74.79. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.89. The company has a market capitalization of $37.88 billion, a PE ratio of 19.82, a PEG ratio of 2.01 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 (NYSE:SYY) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.47 billion. During the same period in the prior year, the business earned $1.07 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, research analysts predict that Sysco Co. will post 4.57 EPS for the current year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Friday, January 3rd. Sysco’s dividend payout ratio is 52.44%.

Insider Buying and Selling at Sysco

In other news, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction dated 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 trade represents a 18.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the transaction, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,638,670.10. The trade was a 7.69 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

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.