King Luther Capital Management Corp trimmed its stake in SYSCO Co. (NYSE:SYY) by 1.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 46,270 shares of the company’s stock after selling 756 shares during the period. King Luther Capital Management Corp’s holdings in SYSCO were worth $3,389,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. First Republic Investment Management Inc. boosted its position in SYSCO by 1.3% in the 3rd quarter. First Republic Investment Management Inc. now owns 175,696 shares of the company’s stock valued at $12,870,000 after buying an additional 2,187 shares during the period. Renaissance Technologies LLC boosted its position in SYSCO by 342.2% in the 3rd quarter. Renaissance Technologies LLC now owns 1,977,518 shares of the company’s stock valued at $144,853,000 after buying an additional 1,530,318 shares during the period. Cpwm LLC purchased a new stake in SYSCO in the 3rd quarter valued at about $207,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in SYSCO by 13.8% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 212,682 shares of the company’s stock valued at $15,579,000 after buying an additional 25,849 shares during the period. Finally, Honkamp Krueger Financial Services Inc. purchased a new stake in SYSCO in the 3rd quarter valued at about $268,000. 79.31% of the stock is owned by institutional investors.

Shares of SYY opened at $65.02 on Friday. SYSCO Co. has a fifty-two week low of $56.01 and a fifty-two week high of $75.98. The company has a market capitalization of $34.27 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 1.87 and a beta of 0.54. The company has a debt-to-equity ratio of 3.00, a current ratio of 1.30 and a quick ratio of 0.80.

SYSCO (NYSE:SYY) last announced its quarterly earnings results on Monday, November 5th. The company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.01). SYSCO had a return on equity of 68.81% and a net margin of 2.52%. The business had revenue of $15.22 billion during the quarter, compared to analysts’ expectations of $15.39 billion. During the same period in the previous year, the company posted $0.74 EPS. SYSCO’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities analysts expect that SYSCO Co. will post 3.4 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 25th. Stockholders of record on Friday, January 4th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, January 3rd. This is a boost from SYSCO’s previous quarterly dividend of $0.36. SYSCO’s dividend payout ratio is presently 45.86%.

Several research firms have issued reports on SYY. Zacks Investment Research raised shares of SYSCO from a “sell” rating to a “hold” rating in a research report on Friday. BMO Capital Markets lowered their price objective on shares of SYSCO from $81.00 to $79.00 and set a “buy” rating for the company in a research report on Tuesday, November 6th. Credit Suisse Group lowered their price objective on shares of SYSCO from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday, November 6th. Morgan Stanley lowered their price objective on shares of SYSCO from $71.00 to $69.00 and set a “hold” rating for the company in a research report on Tuesday, November 6th. Finally, Loop Capital upped their price target on shares of SYSCO to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, August 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. SYSCO presently has an average rating of “Hold” and a consensus target price of $73.54.

In other news, Director Richard G. Tilghman sold 5,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 61,137 shares of the company’s stock, valued at approximately $4,506,408.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joshua D. Frank sold 1,013,666 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $75.09, for a total transaction of $76,116,179.94. Following the completion of the sale, the director now directly owns 4,005 shares of the company’s stock, valued at approximately $300,735.45. The disclosure for this sale can be found here. Insiders sold a total of 6,884,031 shares of company stock valued at $484,008,301 in the last ninety days. Corporate insiders own 7.88% of the company’s stock.

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About SYSCO

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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