Lynch & Associates IN Sells 715 Shares of Sysco Co. (NYSE:SYY)

Lynch & Associates IN trimmed its position in Sysco Co. (NYSE:SYY) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 61,464 shares of the company’s stock after selling 715 shares during the quarter. Lynch & Associates IN’s holdings in Sysco were worth $4,700,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. State Street Corp raised its position in shares of Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after purchasing an additional 2,721,449 shares during the period. Ameriprise Financial Inc. lifted its position in Sysco by 26.1% during the second quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock worth $615,076,000 after acquiring an additional 1,782,180 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in shares of Sysco by 11.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after acquiring an additional 672,940 shares during the period. Primecap Management Co. CA increased its stake in shares of Sysco by 9.7% during the third quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock worth $374,410,000 after purchasing an additional 422,954 shares during the period. Finally, Montrusco Bolton Investments Inc. boosted its stake in Sysco by 8.5% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock valued at $366,789,000 after purchasing an additional 375,409 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SYY has been the topic of a number of analyst reports. Jefferies Financial Group increased their price target on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Wells Fargo & Company reduced their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Melius assumed coverage on shares of Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective for the company. Melius Research upgraded Sysco to a “hold” rating in a research note on Wednesday, December 18th. Finally, StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and an average price target of $85.93.

Insider Buying and Selling

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were 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 directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. The trade was a 7.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,306 shares of company stock valued at $6,485,050. Company insiders own 0.54% of the company’s stock.

Sysco Stock Down 1.6 %

Shares of Sysco stock traded down $1.19 on Friday, hitting $73.66. The company had a trading volume of 2,456,359 shares, compared to its average volume of 1,894,474. 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 stock has a market capitalization of $36.18 billion, a price-to-earnings ratio of 18.94, a P/E/G ratio of 2.10 and a beta of 1.18. The stock has a 50 day moving average of $77.05 and a 200-day moving average of $75.73. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.89.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.04). The business had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.07 earnings per share. As a group, sell-side analysts forecast that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s payout ratio is currently 52.44%.

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.