SYSCO Co. (SYY) Holdings Reduced by Lowe Brockenbrough & Co. Inc.

Lowe Brockenbrough & Co. Inc. lowered its stake in SYSCO Co. (NYSE:SYY) by 9.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,691 shares of the company’s stock after selling 6,658 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in SYSCO were worth $4,446,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Flagship Harbor Advisors LLC acquired a new position in SYSCO in the second quarter valued at about $121,000. Daiwa SB Investments Ltd. acquired a new stake in shares of SYSCO during the third quarter worth about $132,000. Fort L.P. acquired a new stake in shares of SYSCO during the second quarter worth about $123,000. Security National Trust Co. lifted its position in shares of SYSCO by 110.0% during the third quarter. Security National Trust Co. now owns 2,100 shares of the company’s stock worth $154,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Cerebellum GP LLC acquired a new stake in shares of SYSCO during the third quarter worth about $181,000. 78.96% of the stock is currently owned by institutional investors.

Several analysts have recently issued reports on the stock. Pivotal Research increased their price target on shares of SYSCO from $58.00 to $62.00 and gave the stock a “sell” rating in a research report on Saturday, August 18th. Royal Bank of Canada set a $67.00 price target on shares of SYSCO and gave the stock a “hold” rating in a research report on Friday, November 2nd. Buckingham Research assumed coverage on shares of SYSCO in a research report on Monday, October 22nd. They set a “buy” rating and a $82.00 price target on the stock. Citigroup reduced their price target on shares of SYSCO from $78.00 to $74.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 13th. Finally, ValuEngine raised shares of SYSCO from a “hold” rating to a “buy” rating in a research report on Monday, November 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. SYSCO currently has an average rating of “Hold” and an average price target of $73.54.

In related news, Director Trian Fund Management, L.P. sold 1,524,475 shares of the firm’s stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $66.50, for a total value of $101,377,587.50. Following the sale, the director now owns 7,055 shares of the company’s stock, valued at $469,157.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard G. Tilghman sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $73.71, for a total transaction of $368,550.00. Following the completion of the sale, the director now directly owns 61,137 shares in the company, valued at approximately $4,506,408.27. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,755,007 shares of company stock worth $249,642,189. 7.88% of the stock is owned by corporate insiders.

Shares of NYSE:SYY opened at $65.45 on Friday. The company has a market capitalization of $34.02 billion, a P/E ratio of 20.58, a PEG ratio of 1.85 and a beta of 0.54. SYSCO Co. has a fifty-two week low of $56.01 and a fifty-two week high of $75.98. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.80 and a current ratio of 1.30.

SYSCO (NYSE:SYY) last issued its earnings results on Monday, November 5th. The company reported $0.91 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.01). The firm had revenue of $15.22 billion during the quarter, compared to analyst estimates of $15.39 billion. SYSCO had a net margin of 2.52% and a return on equity of 68.81%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the business earned $0.74 EPS. As a group, analysts predict that SYSCO Co. will post 3.4 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 25th. Investors of record on Friday, January 4th will be issued a $0.39 dividend. This is a boost from SYSCO’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, January 3rd. This represents a $1.56 annualized dividend and a yield of 2.38%. SYSCO’s dividend payout ratio (DPR) is 45.86%.

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SYSCO Company Profile

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.

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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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