Sysco Co. (NYSE:SYY) Shares Sold by A. D. Beadell Investment Counsel Inc.

A. D. Beadell Investment Counsel Inc. trimmed its position in Sysco Co. (NYSE:SYY) by 8.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,647 shares of the company’s stock after selling 1,000 shares during the period. A. D. Beadell Investment Counsel Inc.’s holdings in Sysco were worth $798,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Boston Partners increased its position in shares of Sysco by 143.7% during the fourth quarter. Boston Partners now owns 12,184,114 shares of the company’s stock worth $930,296,000 after purchasing an additional 7,184,754 shares in the last quarter. Norges Bank acquired a new stake in Sysco during the 4th quarter worth $450,441,000. Capital Research Global Investors grew its holdings in shares of Sysco by 27.3% during the fourth quarter. Capital Research Global Investors now owns 8,991,476 shares of the company’s stock worth $687,488,000 after buying an additional 1,928,002 shares in the last quarter. Mondrian Investment Partners LTD acquired a new stake in shares of Sysco in the fourth quarter valued at about $123,928,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Sysco in the fourth quarter valued at about $97,078,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Trading Up 1.1%

Shares of SYY stock opened at $73.73 on Friday. Sysco Co. has a 1-year low of $67.12 and a 1-year high of $82.23. The firm has a market cap of $35.74 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 1.88 and a beta of 0.81. The company has a 50-day moving average of $71.68 and a two-hundred day moving average of $73.70. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.06). Sysco had a return on equity of 106.30% and a net margin of 2.40%. The company had revenue of $19.60 billion for the quarter, compared to analysts’ expectations of $20.11 billion. During the same period in the previous year, the business posted $0.96 EPS. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts predict that Sysco Co. will post 4.58 EPS for the current year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.93%. This is a boost from Sysco’s previous quarterly dividend of $0.51. The ex-dividend date is Thursday, July 3rd. Sysco’s dividend payout ratio (DPR) is 55.96%.

Insider Buying and Selling at Sysco

In other Sysco news, Director Sheila Talton sold 356 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total value of $25,219.04. Following the completion of the transaction, the director now owns 12,738 shares in the company, valued at $902,359.92. The trade was a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Sysco from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 20th. BMO Capital Markets lowered their target price on Sysco from $82.00 to $77.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Wells Fargo & Company lowered their price objective on Sysco from $87.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Sanford C. Bernstein set a $87.00 target price on Sysco and gave the stock an “overweight” rating in a research note on Tuesday, April 22nd. Finally, Barclays lowered their price target on shares of Sysco from $87.00 to $77.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.00.

Sysco 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.