Prio Wealth Limited Partnership Sells 141 Shares of Sysco Co. (NYSE:SYY)

Prio Wealth Limited Partnership reduced its stake in shares of Sysco Co. (NYSE:SYY) by 0.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,300 shares of the company’s stock after selling 141 shares during the quarter. Prio Wealth Limited Partnership’s holdings in Sysco were worth $2,053,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SYY. TruNorth Capital Management LLC purchased a new stake in shares of Sysco during the second quarter valued at $25,000. Armstrong Advisory Group Inc. boosted its stake in shares of Sysco by 1,240.0% during the third 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. OFI Invest Asset Management purchased a new stake in shares of Sysco during the first quarter valued at $31,000. Fairscale Capital LLC purchased a new stake in shares of Sysco during the second quarter valued at $38,000. Finally, LRI Investments LLC purchased a new stake in shares of Sysco during the first quarter valued at $45,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Stock Up 0.5 %

Shares of SYY stock traded up $0.36 during mid-day trading on Monday, hitting $75.90. 519,776 shares of the stock traded hands, compared to its average volume of 3,150,780. The stock has a market cap of $37.29 billion, a P/E ratio of 19.42, a P/E/G ratio of 1.97 and a beta of 1.20. The stock’s fifty day moving average is $76.55 and its two-hundred day moving average is $74.85. Sysco Co. has a 52-week low of $64.28 and a 52-week high of $82.89. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69.

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

Sysco Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.69%. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SYY. Barclays boosted their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Bank of America lowered their price objective 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. Jefferies Financial Group upped their price objective on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. upped their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Sysco has an average rating of “Moderate Buy” and an average price target of $86.08.

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.