Lewis Asset Management LLC Has $242,000 Stock Position in Sysco Co. (NYSE:SYY)

Lewis Asset Management LLC lessened its position in shares of Sysco Co. (NYSE:SYY) by 6.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 3,097 shares of the company’s stock after selling 196 shares during the quarter. Lewis Asset Management LLC’s holdings in Sysco were worth $242,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SYY. Capital Research Global Investors grew its holdings in Sysco by 112.8% during the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock worth $536,770,000 after acquiring an additional 3,504,740 shares during the period. ProShare Advisors LLC boosted its position in shares of Sysco by 103.0% during the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock valued at $338,830,000 after purchasing an additional 2,408,226 shares in the last quarter. Swedbank AB acquired a new stake in Sysco during the first quarter worth approximately $178,824,000. Diamond Hill Capital Management Inc. increased its holdings in Sysco by 49.8% in the second quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock worth $429,240,000 after purchasing an additional 1,997,895 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Sysco by 26.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock worth $615,076,000 after buying an additional 1,782,180 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SYY shares. Wells Fargo & Company lowered their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Morgan Stanley decreased their price target on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Bank of America cut their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Jefferies Financial Group upped their price target on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Finally, JPMorgan Chase & Co. raised their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.77.

Sysco Trading Down 0.2 %

Shares of SYY stock opened at $76.87 on Friday. Sysco Co. has a 52-week low of $66.27 and a 52-week high of $82.89. The company has a 50-day simple moving average of $76.17 and a two-hundred day simple moving average of $74.74. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The company has a market capitalization of $37.76 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 2.02 and a beta of 1.20.

Sysco (NYSE:SYY) last issued 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). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The business had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.47 billion. During the same period in the previous year, the business posted $1.07 earnings per share. The business’s revenue was up 4.4% compared to the same quarter last year. Research analysts anticipate that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were given a dividend of $0.51 per share. The ex-dividend date was Friday, October 4th. This represents a $2.04 annualized dividend and a yield of 2.65%. Sysco’s payout ratio is currently 52.44%.

Insider Buying and Selling

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the business’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 transaction, the senior vice president now directly owns 48,451 shares in the company, valued at $3,638,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is currently owned by corporate insiders.

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.