Tocqueville Asset Management L.P. reduced its holdings in SYSCO Co. (NYSE:SYY) by 1.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 192,298 shares of the company’s stock after selling 2,157 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in SYSCO were worth $14,086,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SYY. Smith Asset Management Group LP boosted its holdings in shares of SYSCO by 5.6% in the 2nd quarter. Smith Asset Management Group LP now owns 1,218,339 shares of the company’s stock worth $83,225,000 after acquiring an additional 64,867 shares in the last quarter. Cognios Capital LLC boosted its holdings in shares of SYSCO by 32.4% in the 2nd quarter. Cognios Capital LLC now owns 54,165 shares of the company’s stock worth $3,697,000 after acquiring an additional 13,245 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of SYSCO in the 2nd quarter worth approximately $3,891,000. Fiera Capital Corp acquired a new position in shares of SYSCO in the 2nd quarter worth approximately $506,000. Finally, Jennison Associates LLC acquired a new position in shares of SYSCO in the 2nd quarter worth approximately $616,000. 79.31% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts recently weighed in on SYY shares. ValuEngine cut shares of SYSCO from a “buy” rating to a “hold” rating in a research report on Tuesday, November 6th. Argus boosted their price objective on shares of SYSCO from $67.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, August 16th. Zacks Investment Research upgraded shares of SYSCO from a “sell” rating to a “hold” rating in a research report on Thursday, November 22nd. Citigroup dropped their price objective on shares of SYSCO from $78.00 to $74.00 and set a “neutral” rating for the company in a research report on Tuesday, November 13th. Finally, Jefferies Financial Group set a $68.00 price objective on shares of SYSCO and gave the stock a “hold” rating in a research report on Monday, August 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. SYSCO presently has a consensus rating of “Hold” and a consensus target price of $73.54.

In other SYSCO news, Director Trian Fund Management, L.P. sold 2,115,358 shares of the company’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $74.81, for a total transaction of $158,249,931.98. Following the completion of the sale, the director now owns 4,005 shares in the company, valued at approximately $299,614.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joshua D. Frank sold 1,013,666 shares of the company’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $75.09, for a total transaction of $76,116,179.94. Following the sale, the director now 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 have sold a total of 6,884,031 shares of company stock valued at $484,008,301 in the last quarter. Corporate insiders own 7.88% of the company’s stock.

SYY stock traded down $0.71 during trading on Thursday, hitting $65.42. The company had a trading volume of 9,648 shares, compared to its average volume of 3,438,565. 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 Co. has a 12 month low of $56.01 and a 12 month high of $75.98. The stock has a market capitalization of $34.37 billion, a PE ratio of 20.78, a price-to-earnings-growth ratio of 1.87 and a beta of 0.54.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 25th. Shareholders of record on Friday, January 4th will be given a dividend of $0.39 per share. This is a boost from SYSCO’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, January 3rd. This represents a $1.56 annualized dividend and a dividend yield of 2.38%. SYSCO’s payout ratio is presently 45.86%.

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SYSCO Company 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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