Catalyst Capital Advisors LLC Buys New Position in Sysco Co. (NYSE:SYY)

Catalyst Capital Advisors LLC bought a new stake in Sysco Co. (NYSE:SYY) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 965 shares of the company’s stock, valued at approximately $75,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Plimoth Trust Co. LLC boosted its holdings in Sysco by 0.6% in the second quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock valued at $1,610,000 after acquiring an additional 139 shares during the last quarter. Meeder Advisory Services Inc. boosted its holdings in Sysco by 1.7% in the first quarter. Meeder Advisory Services Inc. now owns 8,362 shares of the company’s stock valued at $679,000 after acquiring an additional 141 shares during the last quarter. Koshinski Asset Management Inc. boosted its holdings in Sysco by 3.1% in the third quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock valued at $383,000 after acquiring an additional 146 shares during the last quarter. NorthRock Partners LLC lifted its stake in Sysco by 3.7% in the first quarter. NorthRock Partners LLC now owns 4,121 shares of the company’s stock valued at $335,000 after buying an additional 147 shares during the period. Finally, Powers Advisory Group LLC lifted its stake in Sysco by 1.6% in the second quarter. Powers Advisory Group LLC now owns 9,555 shares of the company’s stock valued at $682,000 after buying an additional 149 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on SYY. Jefferies Financial Group boosted their price target on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Morgan Stanley dropped their price target 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. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. Bank of America dropped their price target 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, Wells Fargo & Company dropped their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $85.77.

Sysco Trading Up 0.9 %

NYSE SYY opened at $77.01 on Thursday. The firm has a market capitalization of $37.83 billion, a P/E ratio of 19.80, a PEG ratio of 1.98 and a beta of 1.20. The business has a fifty day simple moving average of $76.17 and a 200 day simple moving average of $74.74. Sysco Co. has a 12 month low of $66.27 and a 12 month high of $82.89. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The company had revenue of $20.48 billion during 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 quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.07 earnings per share. On average, analysts predict that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date was Friday, October 4th. Sysco’s payout ratio is currently 52.44%.

Insider Activity at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the transaction, the senior vice president now owns 48,451 shares in the company, valued at $3,638,670.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is currently owned by insiders.

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.