Sysco Co. (NYSE:SYY) Shares Sold by Lavaca Capital LLC

Lavaca Capital LLC cut its position in Sysco Co. (NYSE:SYY) by 2.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 222,761 shares of the company’s stock after selling 6,439 shares during the quarter. Sysco comprises about 7.4% of Lavaca Capital LLC’s portfolio, making the stock its 2nd largest holding. Lavaca Capital LLC’s holdings in Sysco were worth $17,389,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. B&L Asset Management LLC bought a new position in shares of Sysco during the 3rd quarter valued at about $514,000. Morton Community Bank increased its position in shares of Sysco by 1.2% during the third quarter. Morton Community Bank now owns 40,440 shares of the company’s stock worth $3,157,000 after acquiring an additional 475 shares in the last quarter. L.M. Kohn & Company raised its holdings in shares of Sysco by 2.4% during the third quarter. L.M. Kohn & Company now owns 7,739 shares of the company’s stock worth $604,000 after acquiring an additional 179 shares during the period. Caisse DE Depot ET Placement DU Quebec bought a new stake in Sysco in the 3rd quarter valued at $5,961,000. Finally, Captrust Financial Advisors boosted its stake in Sysco by 7.7% in the 3rd quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock worth $9,706,000 after purchasing an additional 8,891 shares during the period. 83.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SYY shares. 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. JPMorgan Chase & Co. upped their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Finally, Jefferies Financial Group increased their target price on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Two investment 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.77.

Sysco Stock Performance

Shares of SYY opened at $77.11 on Friday. The company has a market cap of $37.88 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20. The firm has a 50-day moving average of $75.78 and a 200-day moving average of $74.78. Sysco Co. has a one year low of $69.03 and a one year high of $82.89. 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 (NYSE:SYY) last announced its quarterly 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 analyst estimates of $20.47 billion. During the same period last year, the firm earned $1.07 EPS. Sysco’s quarterly revenue 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 year.

Sysco Dividend Announcement

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

Insider Activity

In other Sysco news, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the transaction, the director now directly owns 12,955 shares of the company’s stock, valued at $966,831.65. This represents a 18.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. 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.