Bard Financial Services Inc. Sells 71,850 Shares of Sysco Co. (NYSE:SYY)

Bard Financial Services Inc. lessened its stake in shares of Sysco Co. (NYSE:SYY) by 79.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,110 shares of the company’s stock after selling 71,850 shares during the period. Bard Financial Services Inc.’s holdings in Sysco were worth $1,492,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. TruNorth Capital Management LLC acquired a new stake in shares of Sysco during the 2nd quarter valued at $25,000. OFI Invest Asset Management acquired a new stake in shares of Sysco during the 1st quarter valued at $31,000. Fairscale Capital LLC acquired a new stake in shares of Sysco during the 2nd quarter valued at $38,000. Fairman Group LLC acquired a new stake in shares of Sysco during the 4th quarter valued at $39,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Sysco during the 4th quarter valued at $44,000. Institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on SYY shares. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Barclays boosted their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Morgan Stanley dropped their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Bank of America dropped their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Finally, Jefferies Financial Group boosted their target price on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $86.08.

Sysco Stock Down 0.3 %

SYY traded down $0.22 during midday trading on Friday, reaching $75.41. 2,792,314 shares of the company were exchanged, compared to its average volume of 4,208,693. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. The company’s fifty day moving average price is $76.65 and its 200 day moving average price is $75.35. The company has a market cap of $37.07 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 2.02 and a beta of 1.20. Sysco Co. has a one year low of $62.24 and a one year high of $82.89.

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

Sysco Announces Dividend

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 issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio is presently 49.76%.

About Sysco

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.