Sysco Co. (NYSE:SYY) Shares Sold by Gladstone Institutional Advisory LLC

Gladstone Institutional Advisory LLC cut its holdings in Sysco Co. (NYSE:SYY) by 5.9% during the 3rd quarter, Holdings Channel reports. The firm owned 4,525 shares of the company’s stock after selling 282 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Sysco were worth $353,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Creative Financial Designs Inc. ADV lifted its stake in shares of Sysco by 5.3% during the third quarter. Creative Financial Designs Inc. ADV now owns 11,320 shares of the company’s stock valued at $884,000 after buying an additional 571 shares during the period. Reston Wealth Management LLC purchased a new position in shares of Sysco during the third quarter valued at approximately $93,000. 1620 Investment Advisors Inc. lifted its stake in shares of Sysco by 8.7% during the third quarter. 1620 Investment Advisors Inc. now owns 4,479 shares of the company’s stock valued at $350,000 after buying an additional 359 shares during the period. Cornerstone Wealth Group LLC purchased a new position in shares of Sysco during the third quarter valued at approximately $207,000. Finally, Diversify Wealth Management LLC lifted its stake in shares of Sysco by 12.0% during the third quarter. Diversify Wealth Management LLC now owns 8,406 shares of the company’s stock valued at $627,000 after buying an additional 900 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. increased their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Morgan Stanley cut their price target on shares of 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 cut their price target on shares of 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 increased their price target on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.77.

Sysco Price Performance

SYY opened at $75.37 on Tuesday. The company has a fifty day simple moving average of $76.16 and a 200 day simple moving average of $74.73. The firm has a market cap of $37.02 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 1.96 and a beta of 1.20. Sysco Co. has a twelve month low of $66.27 and a twelve month high of $82.89. The company has a current ratio of 1.26, a quick ratio of 0.69 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 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The firm had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. Sysco’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.07 earnings per share. Equities research analysts expect that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend was Friday, October 4th. Sysco’s dividend payout ratio is currently 52.44%.

Insiders Place Their Bets

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

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.