Sysco Co. (NYSE:SYY) Shares Sold by Capital Investment Counsel Inc

Capital Investment Counsel Inc decreased its holdings in shares of Sysco Co. (NYSE:SYY) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,606 shares of the company’s stock after selling 505 shares during the quarter. Capital Investment Counsel Inc’s holdings in Sysco were worth $3,014,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. ORG Partners LLC raised its position in shares of Sysco by 3,159.0% during the 2nd quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock worth $495,000 after purchasing an additional 6,855 shares during the period. Mizuho Markets Americas LLC grew its position in shares of Sysco by 102.1% during the first quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock worth $11,355,000 after acquiring an additional 70,660 shares during the last quarter. Wedge Capital Management L L P NC increased its holdings in shares of Sysco by 11.6% in the 2nd quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock worth $12,577,000 after acquiring an additional 18,296 shares during the period. Diversify Advisory Services LLC bought a new stake in Sysco in the 1st quarter valued at about $1,677,000. Finally, Shell Asset Management Co. boosted its stake in Sysco by 205.0% during the 1st quarter. Shell Asset Management Co. now owns 14,305 shares of the company’s stock valued at $1,161,000 after purchasing an additional 9,615 shares during the period. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of SYY opened at $74.63 on Thursday. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. The firm’s 50 day moving average is $76.51 and its 200-day moving average is $74.82. Sysco Co. has a 12-month low of $64.28 and a 12-month high of $82.89. The stock has a market capitalization of $36.66 billion, a P/E ratio of 19.19, a P/E/G ratio of 1.95 and a beta of 1.20.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.01. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The firm had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. During the same quarter in the previous year, the business posted $1.34 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. Equities research analysts anticipate that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio is 52.44%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Barclays lifted their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Bank of America cut their target price on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday. JPMorgan Chase & Co. lifted their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, Jefferies Financial Group increased their target price on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Sysco has a consensus rating of “Moderate Buy” and a consensus price target of $86.08.

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.