Los Angeles Capital Management LLC Reduces Stock Position in Sysco Co. (NYSE:SYY)

Los Angeles Capital Management LLC cut its stake in shares of Sysco Co. (NYSE:SYY) by 36.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 114,103 shares of the company’s stock after selling 66,632 shares during the period. Los Angeles Capital Management LLC’s holdings in Sysco were worth $8,907,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. TruNorth Capital Management LLC purchased a new stake in Sysco in the 2nd quarter worth approximately $25,000. Armstrong Advisory Group Inc. raised its position in shares of Sysco by 1,240.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after purchasing an additional 310 shares during the period. Focused Wealth Management Inc purchased a new position in shares of Sysco during the 3rd quarter valued at $37,000. Fairscale Capital LLC purchased a new stake in Sysco in the 2nd quarter worth $38,000. Finally, Canoe Financial LP purchased a new position in shares of Sysco in the third quarter valued at about $38,000. 83.41% of the stock is owned by institutional investors.

Sysco Stock Performance

Shares of NYSE:SYY opened at $77.94 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The company has a market capitalization of $38.29 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 2.03 and a beta of 1.20. Sysco Co. has a 12 month low of $66.87 and a 12 month high of $82.89. The firm’s 50-day moving average is $76.14 and its 200 day moving average is $74.72.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $20.47 billion. During the same quarter in the previous year, the company posted $1.07 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. Research analysts predict that Sysco Co. will post 4.57 EPS for the current year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were given a $0.51 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.04 annualized dividend and a yield of 2.62%. Sysco’s dividend payout ratio (DPR) is 52.44%.

Insiders Place Their Bets

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the business’s stock in a transaction that occurred 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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wells Fargo & Company decreased their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Bank of America cut their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Barclays raised their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Finally, Morgan Stanley reduced their price objective 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. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.77.

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.