Fisher Asset Management LLC Sells 240 Shares of Sysco Co. (NYSE:SYY)

Fisher Asset Management LLC lessened its holdings in Sysco Co. (NYSE:SYY) by 2.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,892 shares of the company’s stock after selling 240 shares during the quarter. Fisher Asset Management LLC’s holdings in Sysco were worth $928,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Daiwa Securities Group Inc. raised its position in Sysco by 11.7% in the third quarter. Daiwa Securities Group Inc. now owns 60,557 shares of the company’s stock worth $4,727,000 after purchasing an additional 6,360 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Sysco by 84.5% in the 3rd quarter. Larson Financial Group LLC now owns 2,234 shares of the company’s stock worth $174,000 after buying an additional 1,023 shares in the last quarter. Sompo Asset Management Co. Ltd. lifted its position in shares of Sysco by 11.3% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 123,792 shares of the company’s stock worth $9,663,000 after buying an additional 12,591 shares during the period. KKM Financial LLC boosted its stake in Sysco by 6.4% in the 3rd quarter. KKM Financial LLC now owns 30,415 shares of the company’s stock valued at $2,374,000 after buying an additional 1,840 shares in the last quarter. Finally, Cerity Partners LLC grew its position in Sysco by 4.5% in the third quarter. Cerity Partners LLC now owns 174,343 shares of the company’s stock valued at $13,609,000 after acquiring an additional 7,430 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wells Fargo & Company cut their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Jefferies Financial Group upped their price objective 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. Finally, StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.77.

Insider Activity at Sysco

In other news, Director Sheila Talton sold 2,900 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the sale, the director now owns 12,955 shares of the company’s stock, valued at $966,831.65. This represents a 18.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Eve M. Mcfadden sold 4,036 shares of the business’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 sale, the senior vice president now directly owns 48,451 shares in the company, valued at $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

Sysco Stock Up 0.6 %

Sysco stock opened at $77.11 on Friday. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.89. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The firm has a market capitalization of $37.88 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 2.01 and a beta of 1.20. The company’s 50 day simple moving average is $75.78 and its 200 day simple moving average is $74.79.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.04). The firm had revenue of $20.48 billion during 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 quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the firm earned $1.07 EPS. As a group, sell-side analysts anticipate that Sysco Co. will post 4.57 EPS for the current year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.65%. Sysco’s dividend payout ratio is presently 52.44%.

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.