Graypoint LLC Has $320,000 Stock Position in Sysco Co. (NYSE:SYY)

Graypoint LLC boosted its holdings in shares of Sysco Co. (NYSE:SYY) by 12.1% in the third quarter, HoldingsChannel reports. The fund owned 4,100 shares of the company’s stock after buying an additional 443 shares during the quarter. Graypoint LLC’s holdings in Sysco were worth $320,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. TruNorth Capital Management LLC acquired a new stake in shares of Sysco during the second quarter worth approximately $25,000. Armstrong Advisory Group Inc. boosted its stake in shares of Sysco by 1,240.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after buying an additional 310 shares during the period. Focused Wealth Management Inc acquired a new stake in shares of Sysco during the 3rd quarter valued at $37,000. Fairscale Capital LLC acquired a new position in shares of Sysco in the second quarter worth $38,000. Finally, Canoe Financial LP purchased a new stake in shares of Sysco during the third quarter worth $38,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. 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 report on Tuesday, July 16th. Wells Fargo & Company reduced their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Barclays boosted their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.77.

Insider Buying and Selling

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now owns 48,451 shares in the company, valued at approximately $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 can be accessed through the SEC website. 0.54% of the stock is owned by company insiders.

Sysco Stock Performance

SYY opened at $77.41 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The stock’s 50 day moving average price is $76.14 and its two-hundred day moving average price is $74.76. The firm has a market capitalization of $38.03 billion, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 2.02 and a beta of 1.20. Sysco Co. has a 12-month low of $66.27 and a 12-month high of $82.89.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The company had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. During the same period last year, the firm posted $1.07 EPS. The company’s revenue was up 4.4% compared to the same quarter last year. On average, equities analysts forecast that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.64%. The ex-dividend date was Friday, October 4th. Sysco’s 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.