Concurrent Investment Advisors LLC Sells 1,191 Shares of Sysco Co. (NYSE:SYY)

by · The Markets Daily

Concurrent Investment Advisors LLC reduced its position in shares of Sysco Co. (NYSE:SYY – Free Report) by 4.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,463 shares of the company’s stock after selling 1,191 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Sysco were worth $1,832,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in SYY. Norden Group LLC acquired a new position in Sysco in the first quarter valued at approximately $434,000. Csenge Advisory Group grew its stake in shares of Sysco by 9.3% during the first quarter. Csenge Advisory Group now owns 3,248 shares of the company’s stock worth $264,000 after purchasing an additional 276 shares during the period. Empirical Finance LLC increased its holdings in Sysco by 3.5% in the first quarter. Empirical Finance LLC now owns 18,264 shares of the company’s stock valued at $1,483,000 after purchasing an additional 615 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Sysco by 43.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 62,295 shares of the company’s stock valued at $5,057,000 after buying an additional 18,749 shares during the period. Finally, Quantbot Technologies LP bought a new position in Sysco during the first quarter worth about $1,027,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s 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 transaction, the senior vice president now directly owns 48,451 shares in the company, valued at $3,638,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SYY. Barclays increased their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Morgan Stanley reduced 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. Finally, Jefferies Financial Group increased their price target on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and an average price target of $85.77.

View Our Latest Research Report on Sysco

Sysco Trading Down 0.2 %

NYSE SYY opened at $76.87 on Friday. Sysco Co. has a 52 week low of $66.27 and a 52 week high of $82.89. 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 stock’s 50 day moving average price is $76.17 and its two-hundred day moving average price is $74.74. The stock has a market capitalization of $37.76 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 1.98 and a beta of 1.20.

Sysco (NYSE:SYY – Get Free Report) 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 business 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%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 EPS. As a group, analysts anticipate that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend was Friday, October 4th. Sysco’s payout ratio is 52.44%.

Sysco Profile

(Free Report)

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.

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