D.A. Davidson & CO. cut its stake in shares of Sysco Co. (NYSE:SYY) by 3.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 80,162 shares of the company’s stock after selling 2,842 shares during the quarter. D.A. Davidson & CO.’s holdings in Sysco were worth $4,324,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in SYY. First Personal Financial Services lifted its stake in Sysco by 293.2% during the third quarter. First Personal Financial Services now owns 1,962 shares of the company’s stock worth $106,000 after purchasing an additional 1,463 shares during the last quarter. Arcadia Investment Management Corp MI lifted its stake in Sysco by 10.7% in the second quarter. Arcadia Investment Management Corp MI now owns 2,336 shares of the company’s stock valued at $118,000 after buying an additional 225 shares during the last quarter. Acrospire Investment Management LLC lifted its stake in Sysco by 84.6% in the second quarter. Acrospire Investment Management LLC now owns 2,400 shares of the company’s stock valued at $121,000 after buying an additional 1,100 shares during the last quarter. Manchester Capital Management LLC lifted its stake in Sysco by 13.4% in the second quarter. Manchester Capital Management LLC now owns 2,538 shares of the company’s stock valued at $128,000 after buying an additional 300 shares during the last quarter. Finally, Kistler Tiffany Companies LLC lifted its stake in Sysco by 0.4% in the second quarter. Kistler Tiffany Companies LLC now owns 2,915 shares of the company’s stock valued at $147,000 after buying an additional 12 shares during the last quarter. 79.70% of the stock is owned by institutional investors and hedge funds.

Shares of Sysco Co. (SYY) traded up $0.25 during mid-day trading on Thursday, reaching $54.90. The company had a trading volume of 1,216,400 shares, compared to its average volume of 2,900,031. Sysco Co. has a 52-week low of $48.85 and a 52-week high of $57.23. The firm has a market capitalization of $28,740.00, a price-to-earnings ratio of 21.43, a PEG ratio of 2.45 and a beta of 0.53. The company has a debt-to-equity ratio of 3.77, a current ratio of 1.40 and a quick ratio of 0.88.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Monday, November 6th. The company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.02. The firm had revenue of $14.65 billion for the quarter, compared to analyst estimates of $14.43 billion. Sysco had a return on equity of 63.88% and a net margin of 2.51%. Sysco’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.67 earnings per share. equities research analysts anticipate that Sysco Co. will post 2.77 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 5th will be issued a $0.36 dividend. This is a positive change from Sysco’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.44 annualized dividend and a yield of 2.62%. Sysco’s dividend payout ratio is 60.27%.

SYY has been the subject of a number of research reports. Royal Bank Of Canada set a $50.00 price objective on Sysco and gave the company a “hold” rating in a research note on Friday, August 11th. Zacks Investment Research cut Sysco from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Pivotal Research reiterated a “hold” rating and issued a $53.00 price objective on shares of Sysco in a research note on Sunday, November 5th. Wells Fargo & Company reiterated a “buy” rating on shares of Sysco in a research note on Monday, August 14th. Finally, BMO Capital Markets set a $60.00 price objective on Sysco and gave the company a “buy” rating in a research note on Thursday, August 3rd. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Sysco currently has an average rating of “Hold” and a consensus target price of $56.42.

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In other news, CEO William J. Delaney III sold 150,000 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $54.05, for a total value of $8,107,500.00. Following the sale, the chief executive officer now directly owns 526,725 shares in the company, valued at $28,469,486.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William J. Delaney III sold 30,000 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $53.16, for a total value of $1,594,800.00. Following the completion of the sale, the chief executive officer now owns 406,725 shares in the company, valued at $21,621,501. The disclosure for this sale can be found here. Insiders sold 2,222,381 shares of company stock worth $119,570,516 in the last three months. 9.60% of the stock is owned by corporate insiders.

About Sysco

Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.

Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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