Brooklyn Investment Group Acquires New Shares in Sysco Co. (NYSE:SYY)

Brooklyn Investment Group purchased a new position in shares of Sysco Co. (NYSE:SYY) in the third quarter, Holdings Channel.com reports. The firm purchased 1,256 shares of the company’s stock, valued at approximately $98,000.

Several other institutional investors have also made changes to their positions in SYY. TruNorth Capital Management LLC bought a new position in Sysco during the second quarter valued at approximately $25,000. Armstrong Advisory Group Inc. increased its stake in shares of Sysco by 1,240.0% during the 3rd 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 bought a new position in shares of Sysco during the 3rd quarter valued at $26,000. Valley Wealth Managers Inc. acquired a new stake in shares of Sysco in the 3rd quarter valued at $31,000. Finally, Focused Wealth Management Inc bought a new stake in Sysco in the third quarter worth $37,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Up 0.3 %

Shares of SYY opened at $76.65 on Thursday. 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 company has a 50-day simple moving average of $75.70 and a 200-day simple moving average of $74.76. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.89. The firm has a market capitalization of $37.65 billion, a P/E ratio of 19.70, a P/E/G ratio of 2.02 and a beta of 1.20.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The firm had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. Sysco’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.07 EPS. On average, equities research analysts expect that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SYY shares. Barclays boosted their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Jefferies Financial Group lifted their price target on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Wells Fargo & Company decreased their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $85.77.

Insider Activity

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the sale, the director now directly owns 12,955 shares in the company, valued at approximately $966,831.65. The trade was a 18.29 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Sysco Company 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.