Sysco Co. (NYSE:SYY) Shares Sold by Arcadia Investment Management Corp MI

Arcadia Investment Management Corp MI trimmed its stake in shares of Sysco Co. (NYSE:SYY) by 8.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,257 shares of the company’s stock after selling 1,565 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in Sysco were worth $1,347,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Plimoth Trust Co. LLC lifted its position in Sysco by 0.6% during the 2nd quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock worth $1,610,000 after acquiring an additional 139 shares during the period. Meeder Advisory Services Inc. lifted its position in Sysco by 1.7% during the 1st quarter. Meeder Advisory Services Inc. now owns 8,362 shares of the company’s stock worth $679,000 after acquiring an additional 141 shares during the period. Koshinski Asset Management Inc. lifted its position in Sysco by 3.1% during the 3rd quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock worth $383,000 after acquiring an additional 146 shares during the period. NorthRock Partners LLC lifted its position in Sysco by 3.7% during the 1st quarter. NorthRock Partners LLC now owns 4,121 shares of the company’s stock worth $335,000 after acquiring an additional 147 shares during the period. Finally, Powers Advisory Group LLC lifted its position in Sysco by 1.6% during the 2nd quarter. Powers Advisory Group LLC now owns 9,555 shares of the company’s stock worth $682,000 after acquiring an additional 149 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on SYY shares. Wells Fargo & Company reduced their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Barclays raised their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Jefferies Financial Group raised their price target on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, Bank of America dropped their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.77.

Sysco Stock Performance

Sysco stock opened at $75.03 on Friday. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.69 and a current ratio of 1.26. The stock has a fifty day moving average of $76.19 and a two-hundred day moving average of $74.73. The company has a market capitalization of $36.86 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 1.96 and a beta of 1.20. Sysco Co. has a fifty-two week low of $65.19 and a fifty-two week high of $82.89.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.04). The company had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.07 EPS. On average, analysts anticipate that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date was Friday, October 4th. Sysco’s dividend payout ratio is currently 52.44%.

Sysco 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.