Sysco Corporation $SYY Shares Sold by DMKC Advisory Services LLC

DMKC Advisory Services LLC lowered its stake in shares of Sysco Corporation (NYSE:SYY) by 14.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,823 shares of the company’s stock after selling 7,515 shares during the period. DMKC Advisory Services LLC’s holdings in Sysco were worth $3,339,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Sysco during the 2nd quarter worth $3,596,356,000. Bank of America Corp DE purchased a new position in shares of Sysco in the 2nd quarter worth $482,589,000. Dimensional Fund Advisors LP boosted its holdings in Sysco by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 4,667,412 shares of the company’s stock valued at $332,871,000 after acquiring an additional 59,685 shares during the last quarter. Primecap Management Co. CA acquired a new position in Sysco in the second quarter valued at $313,503,000. Finally, Bank of New York Mellon Corp purchased a new stake in Sysco during the second quarter valued at about $273,323,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on SYY. Morgan Stanley upped their price target on Sysco from $88.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 15th. Wall Street Zen downgraded Sysco from a “buy” rating to a “hold” rating in a report on Saturday, October 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on Sysco from $86.00 to $89.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Weiss Ratings cut Sysco from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, November 3rd. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Sysco in a report on Wednesday, November 4th. Eleven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Sysco presently has an average rating of “Moderate Buy” and an average target price of $91.13.

Insider Activity

In related news, EVP Ronald L. Phillips sold 960 shares of the firm’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $83.00, for a total transaction of $79,680.00. Following the sale, the executive vice president directly owned 49,852 shares in the company, valued at approximately $4,137,716. This trade represents a 1.89% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Thomas Gerard Ondrof bought 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The shares were bought at an average price of $76.62 per share, for a total transaction of $191,550.00. Following the completion of the acquisition, the director owned 2,500 shares in the company, valued at approximately $191,550. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 8,873 shares of company stock valued at $741,569 in the last ninety days. Company insiders own 0.55% of the company’s stock.

Sysco Stock Performance

Shares of SYY stock opened at $78.38 on Tuesday. The company’s fifty day simple moving average is $79.82 and its 200-day simple moving average is $80.50. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85. The company has a current ratio of 1.46, a quick ratio of 0.77 and a debt-to-equity ratio of 3.18. The company has a market cap of $38.56 billion, a PE ratio of 16.55, a P/E/G ratio of 2.17 and a beta of 0.66.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $1.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.19. Sysco had a net margin of 2.12% and a return on equity of 79.24%. The firm had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $22.02 billion. During the same period in the prior year, the company earned $1.15 EPS. The firm’s revenue was up 2.8% on a year-over-year basis. As a group, equities research analysts anticipate that Sysco Corporation will post 5.06 EPS for the current year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, October 2nd. Sysco’s payout ratio is currently 58.51%.

Sysco Profile

Sysco Corporation is a food distribution company headquartered in Houston, Texas. Founded in 1969, it supplies food and related products to customers in the foodservice and hospitality industries.

The company distributes fresh and frozen foods, meat, seafood, produce, dairy products, and pantry staples, as well as kitchen equipment, cleaning supplies, and other nonfood items. Its customers include restaurants, health care and educational facilities, lodging businesses, and other organizations that prepare and serve meals.

Sysco serves customers across the United States and in international markets, including Canada and parts of Europe.