Carrera Capital Advisors Takes Position in Sysco Co. (NYSE:SYY)

Carrera Capital Advisors bought a new position in Sysco Co. (NYSE:SYY) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 16,165 shares of the company’s stock, valued at approximately $1,262,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. TruNorth Capital Management LLC bought a new position in shares of Sysco in the 2nd quarter valued at about $25,000. Armstrong Advisory Group Inc. lifted its position in shares of Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after purchasing an additional 310 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Sysco during the third quarter valued at $26,000. Focused Wealth Management Inc bought a new position in shares of Sysco in the third quarter worth about $37,000. Finally, Fairscale Capital LLC purchased a new position in Sysco in the 2nd quarter worth about $38,000. 83.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on SYY. Barclays upped their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. raised their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Morgan Stanley lowered their target price on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a report 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. Finally, Wells Fargo & Company lowered their price objective 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. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.77.

Insider Activity at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction that occurred 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 approximately $3,638,670.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.54% of the stock is owned by insiders.

Sysco Stock Up 0.3 %

SYY stock traded up $0.25 on Tuesday, hitting $78.19. 484,286 shares of the company’s stock were exchanged, compared to its average volume of 3,154,967. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The stock has a market cap of $38.41 billion, a P/E ratio of 20.04, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20. The firm has a 50 day moving average price of $76.14 and a two-hundred day moving average price of $74.73. Sysco Co. has a 12-month low of $66.87 and a 12-month high of $82.89.

Sysco (NYSE:SYY) last released its 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 analyst estimates of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the business earned $1.07 earnings per share. As a group, equities research analysts expect that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date was Friday, October 4th. Sysco’s dividend payout ratio (DPR) is 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.