SYSCO Co. (NYSE:SYY) Stock Position Decreased by Buckley Wealth Management LLC

Buckley Wealth Management LLC cut its position in shares of SYSCO Co. (NYSE:SYY) by 1.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,416 shares of the company’s stock after selling 248 shares during the period. Buckley Wealth Management LLC’s holdings in SYSCO were worth $1,065,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Krane Funds Advisors LLC acquired a new stake in SYSCO in the 2nd quarter valued at approximately $25,000. SRS Capital Advisors Inc. acquired a new position in SYSCO during the 2nd quarter valued at approximately $28,000. Coastal Capital Group Inc. acquired a new position in SYSCO during the 2nd quarter valued at approximately $29,000. Neo Ivy Capital Management acquired a new position in SYSCO during the 2nd quarter valued at approximately $32,000. Finally, FinTrust Capital Advisors LLC boosted its holdings in shares of SYSCO by 55.2% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 523 shares of the company’s stock valued at $37,000 after acquiring an additional 186 shares during the last quarter. 78.15% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Hans-Joachim Koerber sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $73.35, for a total transaction of $733,500.00. Following the completion of the sale, the director now directly owns 52,872 shares in the company, valued at $3,878,161.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Thomas Bene sold 39,384 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $78.12, for a total transaction of $3,076,678.08. Following the sale, the chief executive officer now owns 132,929 shares of the company’s stock, valued at $10,384,413.48. The disclosure for this sale can be found here. Insiders sold 117,893 shares of company stock valued at $9,180,771 over the last quarter. Company insiders own 5.24% of the company’s stock.

SYY has been the topic of a number of recent analyst reports. Credit Suisse Group increased their price target on shares of SYSCO from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Tuesday, August 13th. Consumer Edge initiated coverage on shares of SYSCO in a report on Wednesday, July 17th. They set an “underweight” rating and a $71.75 price target on the stock. Bank of America upped their price objective on shares of SYSCO from $76.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Wells Fargo & Co restated a “buy” rating on shares of SYSCO in a research report on Monday, August 12th. Finally, Barclays increased their target price on shares of SYSCO from $70.00 to $71.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $74.52.

Shares of NYSE SYY traded up $0.64 during mid-day trading on Friday, reaching $78.87. The company’s stock had a trading volume of 2,876,283 shares, compared to its average volume of 2,964,648. The stock has a 50-day moving average of $76.73 and a two-hundred day moving average of $72.35. The stock has a market capitalization of $39.72 billion, a P/E ratio of 22.22, a P/E/G ratio of 2.13 and a beta of 0.48. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.81 and a current ratio of 1.33. SYSCO Co. has a 1-year low of $59.44 and a 1-year high of $79.74.

SYSCO (NYSE:SYY) last issued its earnings results on Monday, August 12th. The company reported $1.10 EPS for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.03. The business had revenue of $15.47 billion during the quarter, compared to analysts’ expectations of $15.65 billion. SYSCO had a net margin of 2.79% and a return on equity of 76.80%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.94 earnings per share. Analysts predict that SYSCO Co. will post 3.81 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, October 3rd. SYSCO’s dividend payout ratio (DPR) is 43.94%.

SYSCO 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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