LS Investment Advisors LLC Sells 29,463 Shares of Sysco Co. (NYSE:SYY)

08 Nov 2024, 07:54 by Teresa Graham · The Cerbat Gem

LS Investment Advisors LLC reduced its position in shares of Sysco Co. (NYSE:SYY – Free Report) by 86.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,717 shares of the company’s stock after selling 29,463 shares during the quarter. LS Investment Advisors LLC’s holdings in Sysco were worth $368,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mainstream Capital Management LLC acquired a new stake in shares of Sysco in the third quarter valued at approximately $516,000. Principal Financial Group Inc. increased its stake in Sysco by 3.8% in the 3rd quarter. Principal Financial Group Inc. now owns 608,135 shares of the company’s stock valued at $47,471,000 after buying an additional 22,513 shares during the last quarter. Advisors Management Group Inc. ADV bought a new stake in Sysco during the 3rd quarter worth about $218,000. Graypoint LLC boosted its stake in shares of Sysco by 12.1% during the 3rd quarter. Graypoint LLC now owns 4,100 shares of the company’s stock worth $320,000 after buying an additional 443 shares during the last quarter. Finally, Radnor Capital Management LLC bought a new position in shares of Sysco in the 3rd quarter valued at about $491,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Transactions at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the sale, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SYY. Morgan Stanley dropped their target price on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Jefferies Financial Group upped their price objective on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Wells Fargo & Company decreased their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Bank of America cut their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, Barclays lifted their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.77.

Get Our Latest Stock Report on Sysco

Sysco Stock Down 0.2 %

Shares of NYSE SYY opened at $76.87 on Friday. The company has a market cap of $37.76 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 2.02 and a beta of 1.20. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. Sysco Co. has a 12 month low of $66.27 and a 12 month high of $82.89. The stock has a 50-day moving average price of $76.17 and a two-hundred day moving average price of $74.74.

Sysco (NYSE:SYY – Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The business had revenue of $20.48 billion for 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%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.07 earnings per share. As a group, analysts forecast that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.65%. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

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