Douglass Winthrop Advisors LLC lessened its stake in shares of SYSCO Co. (NYSE:SYY) by 18.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,835 shares of the company’s stock after selling 2,600 shares during the period. Douglass Winthrop Advisors LLC’s holdings in SYSCO were worth $867,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. MUFG Securities EMEA plc bought a new stake in shares of SYSCO during the second quarter valued at approximately $14,719,000. Homrich & Berg increased its holdings in SYSCO by 12.7% during the second quarter. Homrich & Berg now owns 13,659 shares of the company’s stock valued at $933,000 after buying an additional 1,538 shares during the period. Spears Abacus Advisors LLC purchased a new position in SYSCO during the second quarter valued at approximately $212,000. Golub Group LLC increased its holdings in SYSCO by 4.6% during the second quarter. Golub Group LLC now owns 34,278 shares of the company’s stock valued at $2,341,000 after buying an additional 1,512 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in SYSCO by 1.2% during the second quarter. Janus Henderson Group PLC now owns 5,903,214 shares of the company’s stock valued at $403,131,000 after buying an additional 68,148 shares during the period. 80.22% of the stock is owned by hedge funds and other institutional investors.

NYSE SYY opened at $68.82 on Friday. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.74 and a current ratio of 1.21. SYSCO Co. has a 12-month low of $52.30 and a 12-month high of $75.98. The firm has a market capitalization of $38.07 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 1.98 and a beta of 0.56.

SYSCO (NYSE:SYY) last released its quarterly earnings results on Monday, August 13th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.01. SYSCO had a net margin of 2.44% and a return on equity of 68.15%. The business had revenue of $15.32 billion for the quarter, compared to analyst estimates of $15.30 billion. During the same period in the previous year, the company earned $0.72 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. Sell-side analysts anticipate that SYSCO Co. will post 3.49 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 26th. Shareholders of record on Friday, October 5th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.09%. The ex-dividend date is Thursday, October 4th. SYSCO’s dividend payout ratio is currently 45.86%.

In other SYSCO news, Director Richard G. Tilghman sold 5,000 shares of SYSCO stock in a transaction on Monday, September 17th. The shares were sold at an average price of $73.71, for a total value of $368,550.00. Following the transaction, the director now directly owns 61,137 shares of the company’s stock, valued at $4,506,408.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Brian R. Todd sold 9,147 shares of SYSCO stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $73.82, for a total transaction of $675,231.54. Following the completion of the transaction, the senior vice president now directly owns 11,747 shares in the company, valued at $867,163.54. The disclosure for this sale can be found here. Insiders sold 3,969,811 shares of company stock worth $297,380,043 over the last ninety days. Corporate insiders own 9.60% of the company’s stock.

Several brokerages recently issued reports on SYY. ValuEngine raised shares of SYSCO from a “hold” rating to a “buy” rating in a report on Tuesday, June 26th. Citigroup lifted their price objective on shares of SYSCO from $67.00 to $69.00 and gave the company a “neutral” rating in a report on Tuesday, June 19th. Jefferies Financial Group set a $68.00 price objective on shares of SYSCO and gave the company a “hold” rating in a report on Monday, August 13th. Morgan Stanley lifted their price objective on shares of SYSCO from $67.00 to $71.00 and gave the company an “equal weight” rating in a report on Tuesday, August 14th. Finally, Loop Capital lifted their price objective on shares of SYSCO to $80.00 and gave the company a “buy” rating in a report on Tuesday, August 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $72.42.

SYSCO Profile

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.

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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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